First Time Buyer

March 1, 2024

Property Transfer Tax for BC Home Buyers | Updated 2024

BC Property Transfer Tax is a land transfer tax. Property Transfer Tax is typically applicable when you purchase a home or acquire an interest in a property but there are some exemptions. If the tax is applicable, it's payable when you register the property at the Land Title Office ...

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March 26, 2023

First Home Savings Account & Other Home Buyer Rebates

We wanted to let you know about the new First Home Saving Account, and remind you of the Home Buyer's Amount Tax Credit, in addition to, other valuable home owner and buyer rebates and incentives.

First Home Savings Account

Qualifying first-time buyers can contribute up to $8,000 yearly ...

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May 20, 2021

CMHC First-Time Home Buyer Incentive | Updated 2023

The CMHC First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage costs by the government contributing to part of the home purchase. Basically, it's a shared equity mortgage with the Canadian Government.

The government implemented changes in the Spring of 2021 to help more buyers to ...

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March 4, 2019

Helping Your Children Buy their First Home with the Family Equity Plan

Many parents are helping their children buy their first home by providing money for their mortgage downpayment. If you are also thinking of helping your kids with their home purchase, you may want to consider the Family Equity Plan instead of gifting your cash directly to your children.

You can ...

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April 11, 2018

7 Things to Avoid During the Mortgage Application Process

BC Mortgage Application Tips

Seven things mortgage brokers advise that you should avoid during the mortgage application process:

1. Don’t change jobs, or quit your job. Brokers cannot utilize your income if it’s probationary.

2. Don’t buy a car, truck or van with a payment plan before a home. 

3. Don’t use credit ...

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Jan. 12, 2018

Knowing The Lingo – Key Terms For Your First Mortgage

When buying a home, the mortgage process can be overwhelming. Knowing the key terms that are part of it can help reduce confusion and help guide your first conversation with your mortgage broker.

Mortgage Definitions and Key Terms


Length of time over which the mortgage will be repaid.

Mortgage Term

Length of time that ...

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March 14, 2017

First Time Buyers' Program Threshold Increases $25,000

The Greater Vancouver Real Estate Board, together with the BC Real Estate Association, has been lobbying the government for years to increase the First Time Buyers' Program threshold, as it's difficult to purchase a home under $475,000 in Greater Vancouver. They asked the government to increase the resale ...

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Feb. 10, 2017

First Time Home Buyer Event

You and your friends are invited to our free Event for First Time Home Buyers!

Learn how to take advantage of the New BC Housing 2nd Mortgage Program and other tips to help buy your first home! Guest speakers include:

  1. Jerry & Stephen Jackman - Verico Pacific Coastal Mortgage Brokers
  2. Lisa ...
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Dec. 20, 2016

New First-Time Buyer Home Downpayment Loan Program

As you’ve probably heard, the BC Government will lend first-time homebuyers up to 5% of the purchase price to use as a downpayment to a maximum of $37,500.

There are many details still to be clarified - below is our understanding of the new regulations. However, we’re not mortgage experts ...

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July 1, 2016

Family Equity Plan -- Help Your Family Buy a Home

Would you like to help a family member buy their first home or help them move up to a house with a basement suite (mortgage helper) to accommodate a growing family?

Accumulating enough down payment funds is often the biggest challenge for home buyers (especially with the new mortgage rules ...

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