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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 buying a home but have questions or don't know where to start, meet with Financial Advisors at any of our 11 branches who can tell you all that you need to know.

Save for your down payment: A minimum down payment of 5% of the purchase price is required to qualify for a mortgage. But the more you put towards your down payment, the lower your mortgage and payments. There are programs that can help you save for your down payment such as the First-Time Home Buyer Incentive. Set up an automated Cambrian Savings Account to help you save faster.

Calculate what you can afford: Try our Home Affordability Calculator to get an idea of what you can afford in just 2 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. In as little as 15 minutes you can complete Cambrian's new online mortgage application, setting you on your way to mortgage pre-approval. Getting pre-approved for a mortgage will give you peace of mind because you'll know exactly what your maximum purchase price is. It also protects you from rising interest rates by guaranteeing your mortgage rate for 120 days.

Educate yourself: Determine if you're financially ready for home ownership, and then 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.

Find a Branch

Learn More about Applying for a Mortgage

Discover what you'll need to apply online for our hassle-free mortgage.

Learn More

Feature Mortgage Offer

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Rate subject to change without notice.

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