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Demystifying Mortgages

Go Ahead, Own It.

Buying a home is one of the biggest financial decisions most people ever make. At Cambrian, we've helped thousands of first-time homebuyers plan for and buy their first house. We work with you every step of the way to ensure you're informed and fully prepared when the perfect home comes along.

First off, we know that a mortgage can be complicated to understand. This video will talk through a mortgage, in simple terms, so that you know what to look for and what to ask.

 

 

Here are next steps you can take to get you ready to buy your first home:

Not sure where to start? If you're thinking about your future home purchase but aren't quite ready to buy, meet with with one of our Lending Specialists at any of our 11 branches who can help you get started.

Save for your down payment: A minimum down payment of 5% of the purchase price is required to qualify for a mortgage. A Cambrian Savings Account can help you get there faster.

Calculate what you can afford: Try our Home Affordability Calculator to get an idea of what you can afford in just minutes.

Build your credit rating: A good credit rating can help you qualify for a mortgage. Regularly using and paying off your credit card in full every month is a great way to build your credit rating.

Get pre-approved. Getting pre-approved for a mortgage will give you peace of mind because you'll know exactly what your maximum purchase price is based on your down payment, income and financing. It also protects you from rising interest rates by guaranteeing your mortgage rate for 120 days.

Educate yourself: There are a number of helpful resources available to first-time home buyers. Check out this list of helpful tips for first time buyers to get you started.

 

Home Affordability Calculator

Find out how much home you can afford and what your mortgage payment would be. Using our calculator will not affect your credit rating.

  • Step 1 Tell us about yourself
  • Step 2 Find out what you can afford
  • Step 3 Get pre-approved for a mortgage

Helpful Resources

Online Mortgage Application

Apply online for our hassle-free mortgage and you will automatically get our low mortgage rate, no negotiation required.

Apply now

Find a Branch

Find the Cambrian branch nearest you to meet with one of our mortgage experts.

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*Rate subject to change without notice

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