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We help first time home buyers every step of the way

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Understand what you
​ can afford

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Determine your
​down payment

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Speak to
​an advisor

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Financial readiness

Are you ready to buy?

Figuring out what you can afford for your first home starts with looking at your cash flow.

  • Deduct what you spend on everyday items, including food and transportation, from your income.

  • Understand all the costs with homeownership, including your mortgage, utilities, property taxes, and existing debt payments.

  • Factor in the one-time costs that come with buying a home — legal fees, moving costs, and renovations.

Let us help you understand the Canadian home-buyers market and options for owning your first home.

Speak to a mortgage specialist for guidance >

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Let's talk numbers

Your down payment & pre-approval

While you can get away with as little as 5% down when financing a home, the larger your down payment, the less interest you'll pay over time. 

To fund a more generous down payment, you can borrow from your RRSP using the Home Buyers' Plan. Under the plan, each individual can withdraw up to $60,000 tax-free from their RRSP. You can also combine with funds in your FHSA

Getting pre-approved for a mortgage tells realtors and sellers you're a qualified purchaser. It lets you shop and negotiate knowing how much you can borrow, so you won't waste time looking at homes out of your price range.

Apply for a SASCU mortgage >

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Discovery discussion

What to bring to your appointment

Your first appointment will enable your advisor to discover your needs and to identify how we can best help you in making your first home purchase stress-free!

Below are the few documents you will need to bring with you to your first appointment.

Call us at 250-832-8011 >


You'll need:

  • Previous year's income tax Notice of Assessment
  • Two most recent paystubs
  • Are you self-employed? Please bring the previous two year's of income and business records.
  • Do you have a property in mind? Bring all of the information that you have for the property, including the MLS number if the property has been listed.
  • Have you placed an offer? Bring the sale agreement.
  • Are you purchasing the property yourself or with another person? They will need to bring their income records as well.
  • Is the co-signer a SASCU member? If not, they will need to bring their ID and Social Insurance Number.

Payment Protection Legal Disclaimer

Creditor's group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor's group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.


Tools & Resources

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Mortgage Calculator



Budget Planner


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Cash Flow Calculator



Discover more


Own a home

Home ownership is a dream and responsibility. Learn more about mortgages, home equity line of credits, and planning for renovations.


Online Mortgage Application

We make it convenient and easy for you to apply for a mortgage with our online application. 




First Home Savings Account (FHSA) is a registered plan designed specifically to help you save for your first home.


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Start your journey today

Our advisors are happy to talk to you about the steps to buying your first home.