Buying your first home can be a daunting experience, but at East Coast Mortgage Brokers, our team is committed to making this experience as smooth and stress-free as possible. We are well trained and experienced in guiding you through the process. Once we help you establish what mortgage you can qualify for, you can then shop with confidence. We can even suggest real estate agents you can work with who specialize in helping first time buyers find that right home.


As a first time homebuyer, you are entitled to withdraw funds held in an RRSP plan to assist with your down payment and other costs. Revenue Canada will permit you to withdraw up to $25,000 from your RRSP, and you have 15 years to repay without incurring tax. You can also contribute to an RRSP in the year you purchase your home, as long as the funds remain in the plan for 90 days. A simple move of depositing your down payment into an RRSP and then withdrawing to provide for the down payment can save you thousands which can cover your closing costs. Ask our advisors for more information and how this will work for you.


Don’t have quite enough for your down payment? Many of the lenders we deal with, will permit all or a portion of your down payment to be borrowed on a separate loan. To qualify for this option, you must have a strong credit score and have the ability to carry the payments on your down payment loan, in addition to your mortgage payments.  Our advisors will assess your personal situation and determine if this is a good option for you.