01. An honest budget
What you can actually afford to spend - including closing costs, property tax, insurance, and the stress test - not just what the bank's calculator spits out.
Your first place, without the panic.
Buying your first home should feel like progress, not a pop quiz. I walk first-time buyers through every step - from down payment math to keys in your hand - in plain language, at your pace, with zero pressure.
No mystery fees, no boilerplate emails. Just real advice, in order, from the first call to your closing day.
What you can actually afford to spend - including closing costs, property tax, insurance, and the stress test - not just what the bank's calculator spits out.
How to combine RRSP Home Buyers' Plan, FHSA, gifted funds, and savings. The most tax-efficient order to use them.
A locked rate for 90-120 days while you shop, so you're protected if rates move and ready to write an offer the moment you find the place.
Done before you fall in love with a house. No surprises at the offer stage.
Not just my own big bank's product. I match your situation to whichever lender is actually offering the best fit that week.
Including 'maybe wait six months' if that's what the numbers say. I'd rather lose a client than push the wrong mortgage.
Most first-time buyers I work with use two or three of these together. I'll show you which combination fits your situation.
Up to $60,000
Withdraw from your RRSP tax-free for a down payment. Repay it back into your RRSP over 15 years. Couples can combine for up to $120,000.
Up to $40,000 lifetime
Contributions are tax-deductible (like an RRSP) and withdrawals for a first home are tax-free (like a TFSA). Contribute up to $8,000/year.
5% min
5% minimum on the first $500K, 10% on the portion above. Below 20% down, a mortgage default insurance premium gets added to your mortgage.
Most lenders accept
A gift letter from immediate family is widely accepted. I'll walk you and the gift-giver through exactly what the lender needs to see.
Limited Canadian credit OK
Specialty programs for people with thin Canadian credit history but solid income. Yes, you can buy in your first year.
No first-time buyer rebate
Charged on marginal brackets at closing - 0% on the first $30,000, rising to 2% above $200,000. About $5,650 on a $400,000 home. Unlike Ontario or BC, Manitoba doesn't offer a first-time buyer rebate, so it's worth budgeting for up front.
“Buying your first home is one of the biggest financial decisions you'll ever make. You deserve someone in your corner who explains the why, not just the what.”- Jeremy LaHaie
Most first-time buyers walk into their bank, get a number, and walk out either elated or deflated. Neither reaction is the right starting point.
My approach is the opposite. We start with what you actually want your life to look like - the neighbourhood, the commute, the monthly payment you'd be comfortable with on a bad month, not just a good one. Then we work backwards into the mortgage.
Once we know what we're looking for, I shop 40+ lenders to find the structure that fits - not just the lowest rate on paper, but the right combination of rate, term, prepayment privileges, and penalty structure.
And I stick around. Renewal questions in five years? Refinance question after a renovation? Same number. Same Jeremy.
Minimum is 5% on the first $500,000 of the purchase price, then 10% on anything above that. So a $400,000 home needs $20,000 down; a $600,000 home needs $35,000. Below 20% down you'll pay CMHC insurance.
A pre-qualification is a guess based on what you tell me. A pre-approval is the real deal - documents reviewed, credit checked, rate locked. You want pre-approval before you start house hunting seriously.
Both, if you can. FHSA is usually the better tool to fund first (tax-deductible going in, tax-free coming out for a home). The RRSP HBP is great as a second source - up to $60K per person.
A federal rule: lenders must qualify you at either the Bank of Canada benchmark or your contract rate + 2%, whichever is higher. We'll run your numbers against the current benchmark before you start shopping.
640+ opens most A-lender doors. Below that, we have B-lender and alternative options - the rate is a bit higher but it's a real path forward.
Pre-approval: 48-72 hours from a full document package. From accepted offer to keys in hand: usually 30-60 days.
Yes - Manitoba charges a Land Transfer Tax on marginal brackets: 0% on the first $30,000, then 0.5% up to $90,000, 1.0% up to $150,000, 1.5% up to $200,000, and 2.0% above that. On a typical $400,000 Winnipeg home, that's about $5,650, due at closing. Unlike Ontario, BC, or PEI, Manitoba doesn't offer a first-time buyer rebate - budget for it as a real closing cost.
Questions answered by Jeremy LaHaie, mortgage professional with INVIS Inc., serving Winnipeg, Ste Anne, Steinbach, and all of Southeast Manitoba. Call or text (204) 995-7336.