Expert Guidance for First Time Homebuyers

Purchasing your first home is an exciting milestone, but it can also be overwhelming. At The Source, we offer expert guidance and resources to help you navigate the home buying process with confidence.

Applying won’t affect your credit score

Your First Home Starts Here

From securing financing to understanding your options, we're here to make your first home purchase smooth and stress-free.

Our Real Estate Services

Know Your Budget Before You Start Looking

Calculate your ideal home price with the right mortgage

Understanding how much home you can afford is a crucial first step. Your budget will depend on:

  • Down Payment: Typically 5% to 20% of the home’s purchase price.

  • Income and Employment: Your income is assessed to determine borrowing amount.

  • Existing Debt: Your current debts will also factor into how much you can afford.

  • Credit Score: A good credit score can help you secure a lower interest rate.

Curious About Our Realty Services?

Talk to our full service realty team today.

Real Estate FAQ

  • When purchasing a home, key factors include:

    • Your budget – Get pre-approved to determine how much you can afford.

    • Location & neighborhood – Consider property value trends, amenities, and commute times.

    • Future resale value – Choose a home with long-term appreciation potential.

    Our real estate professionals can guide you through the homebuying process to help you make a confident decision.

  • While not required, working with a real estate agent gives you access to:

    • Exclusive listings and market insights.

    • Expert negotiation to secure the best price.

    • Professional guidance on contracts, inspections, and closing.

    An agent protects your interests and simplifies the buying process.

  • Pricing your home correctly is key to attracting buyers and maximizing your return. Factors that influence pricing include:

    • Comparable home sales in your neighborhood.

    • Current market trends and demand.

    • Condition and upgrades of your home.

    We provide free home evaluations to help you list at the best possible price.

  • To sell your home quickly and at top value, consider:

    • Professional staging – Makes your home more appealing to buyers.

    • Strategic marketing – High-quality listings, virtual tours, and online exposure.

    • Minor repairs and updates – Fresh paint, updated lighting, and curb appeal improvements can boost value.

    Our team handles the entire selling process, ensuring a smooth and profitable transaction.

  • In Canada, several programs help first-time buyers afford a home:

    • First-Time Home Buyer Incentive – A government shared-equity program that reduces mortgage payments.

    • Home Buyers' Plan (HBP) – Withdraw up to $35,000 from your RRSP tax-free for a down payment.

    • Land Transfer Tax Rebates – Available in certain provinces to help reduce closing costs.

    Our experts can help you explore which programs you qualify for.

  • Down payment requirements depend on the home price:

    • 5% down for homes up to $500,000.

    • 10% down on the portion of the home price between $500,000 and $999,999.

    • 20% down for homes $1 million or more.

    If your down payment is less than 20%, you’ll need mortgage default insurance. We can help you determine the best financing options.

  • Finding the perfect rental involves:

    • Determining your budget – Consider rent, utilities, and other costs.

    • Choosing the right location – Proximity to work, schools, and amenities.

    • Understanding lease terms – Length, included utilities, and landlord policies.

    We offer a range of rental listings and expert leasing assistance to match you with the right home.

  • Before committing to a rental, review:

    • Lease length – Is it month-to-month or a fixed term?

    • Security deposit requirements – How much is required upfront?

    • Included expenses – Are utilities, parking, or maintenance fees included?

    • Tenant rights & responsibilities – Understand eviction policies and maintenance responsibilities.

    Our leasing specialists help renters navigate lease agreements and secure the best rental terms.

A Realty Partner You Can Trust

Expert Guidance for Every Step of Your Real Estate Journey

Navigating the real estate market can be complex, but with The Source, you have a trusted partner by your side. Whether you're buying, selling, or leasing, our expert team provides personalized support and market insights to ensure a smooth and successful experience.

What our customers say about us

  • "The Source helped me secure the funds I needed quickly and easily. The process was straightforward, and their team was fantastic to work with!"

    Sarah L.

  • "I was nervous about applying for an unsecured loan, but The Source made it stress-free. They explained everything clearly and got me approved in no time!"

    Mark T.

  • "Thanks to The Source, I’ve consolidated my debt into one manageable payment. It’s such a relief to finally feel in control of my finances -thank you!"

    Emily R.

  • "The Source's credit help services were a lifesaver. They guided me through improving my credit score and qualifying for better loan options."

    James K.

  • "Getting a HELOC with The Source was a game-changer for our home renovations. The terms were great, and the funds were there when we needed them."

    Lisa M.

  • "I needed a second mortgage for some big expenses, and The Source delivered. Their team made the process smooth and hassle-free."

    Hirad W.

  • "When an emergency came up, The Source came through for me. Fast approval, great service, and peace of mind when I needed it most."

    Jessica P.

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