Buying a home?
Get pre-approved for your mortgage within 24 business hours.
Mortgages
Flexible financing for any need
Whether you’re buying your first home, a second home, a mobile home or a different type of property entirely, we can help.
Book an appointment with us!
Select your preferred branch location below to book an appointment.
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What is an FHSA?
An FHSA is a registered plan designed to help you save for your first home, tax-free! When a qualifying withdrawal is made, the amount withdrawn is not taxable.
Who is Eligible?
To open an FHSA you must be a Canadian resident, be 18 years or older, and be a first-time home buyer.
The account can stay open for a maximum of 15 years or until the end of the year you turn 71.
The account can stay open for a maximum of 15 years or until the end of the year you turn 71.
What are the contribution limits?
The annual contribution limit is $8,000 and a lifetime contribution limit of $40,000. Plus you can carry forward any unused portions of your contribution limit in any year.
Why choose Stride?
Protect yourself from life’s curveballs
Life happens and sometimes it can throw your plans off-track. Mortgage insurance covers you in case these unexpected events stop you from making payments.
Mortgage calculator
Not sure how much home you can afford? Try our calculator to find out what your mortgage could look like.
Getting your mortgage is as easy as:
Apply now
You can apply online or book a chat with us, so we can collect the information we need (see below).
Get a decision
We’ll personally review your application and let you know within 24 business hours if it has been approved.
Sign and finalize
If approved, simply book a time in-branch to finalize the paperwork or e-sign from home.
What kind of information will we need from you?
Your mortgage questions answered
What types of mortgages are there?
There are many different types of mortgages you can get. Examples include:
- Conventional – a good option for those with a 20% down payment
- High ratio – a good option for those who have less than a 20% down payment
- Purchase Plus Improvements – a good option for those who are buying a fixer-upper or plan to do immediate renovations to their home
- Collateral – a good option for those who want to include a loan or line of credit secured by their property
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Construction – a good option for those who want to build their dream home from the ground up
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And more!
Not sure which type of mortgage you need? No problem! Our experts can help you assess the options based on your home-buying plans.
What is a high ratio mortgage?
You can buy a home with as little as 5% down payment. But, if you have less than 20% set aside, your mortgage will be considered “high ratio”. This means that it will automatically include mandatory insurance.
The exact insurance amount will depend on:
- Home price
- Mortgage amortization period
- How much down payment you have saved
Our experts can help you understand whether a high ratio mortgage is right for you and what your insurance premiums might look like.
What’s the difference between an open and closed mortgage?
Open and closed mortgages are opposites. Here’s how they differ:
| Open | Closed | |
|---|---|---|
| Payments | Mortgage payments can be increased at any time | Mortgage payments are locked-in for the term |
| Penalties | No penalties for increasing your mortgage repayments | Penalties for increasing your mortgage repayments |
| Interest rates | Rates are typically higher | Rates are typically lower |
| Good for | Those who anticipate coming into money or selling their home soon | Those who don’t require flexibility and want a lower rate |
Choosing your mortgage type is an important decision that can save you money. Our experts can help you look at your personal financial picture to assess which option is best for you.
What’s the difference between a variable and a fixed rate?
Similar to open and closed mortgages, fixed and variable rates are opposites:
| Variable Rate | Fixed Rate | |
|---|---|---|
| Overview | Rate can change with the markets | Rate is locked in for the mortgage term |
| Interest rates | Rates are typically lower | Rates are typically higher |
| Mortgage type | Typically combined with an open mortgage | Typically combined with a closed mortgage |
| Good for | Those who want to save money if interest rates drop | Those who want peace of mind that their rate won’t change |
Unsure which option to choose? Let our experts help you figure it out!
How much can I withdraw from my RRSP to buy a home?
Under the federal Home Buyer’s Plan (HBP), you can withdraw up to $35,000 from your RRSP to buy or build a first home. This amount will not be taxed as long as you pay it back in full within 15 years of the withdrawal.
What kind of information do I need to provide?
See our Mortgage Checklist here.
Have more questions?
Don’t hesitate to reach out! Our experts will happily help you figure out your options and what they mean for you.
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