You may need less down than you think
The federal minimum down payment generally starts at five percent on the first portion of a home's price. Twenty percent is what removes default insurance, not what gets you in the door.
Janet Hong Mortgages
Buying your first place?
Find out what you can actually afford
Before you fall for a listing, it helps to know your real number. Janet works out the range lenders are likely to consider for you, what you would need up front, and what the monthly payment really looks like.
You'll be speaking with Janet You're all set. Pick your time below.
Get my real numberPrefer to talk? Call 709-763-1844.
Free pre-approval · Access to multiple lenders · No cost to talk
Janet Hong arranges mortgages as a broker with First Rate Mortgage NL, Lic. #JH342-1, serving St. John's and the rest of Newfoundland and Labrador.
Most first-time buyers start with a listing they love and work backwards. It is easier the other way around.
Janet sets the budget first and walks through the down payment programs that apply to you, so every home you tour is one you could actually buy.
A pre-approval is the part that makes the rest simple
It tells you your budget, it shows sellers you are serious, and it holds a rate while you shop.
A pre-approval holds a rate while you look
A pre-approval commonly holds a rate for up to 120 days. If rates move up while you are shopping, you keep the held one. Many lenders will pass on a lower rate if rates drop, and Janet confirms which terms your own pre-approval carries.
Perfect credit is not the bar
Lenders look at the whole file, and different lenders weigh it differently. Janet knows which ones fit a shorter credit history, including if you are new to Canada.
What we offer
- Mortgage Renewals
- First Time Home Buyers
- Mortgage Refinancing
- Investment Properties
- Self-Employed Mortgages
- Home Equity Line of Credit
- Debt Consolidation
Verified review
“I was overwhelmed by the options, but Janet's guidance helped me choose the best mortgage for my needs. I highly recommend her!”
Frequently asked questions
How much do I really need for a down payment?
The federal minimum generally starts at five percent of the first portion of the purchase price, with a higher percentage on the amount above that. Under twenty percent, default insurance applies and gets added to your mortgage.
What does a pre-approval actually do?
It confirms the amount a lender is prepared to work with, holds a rate for a set window while you shop, and tells a seller your offer is backed by a lender rather than a guess.
I am new to Canada. Can I still qualify?
Often, yes. Some lenders have programs built for a short Canadian credit history. Janet will tell you up front what your file needs.
Reserve your spot, then pick a time
Leave your details and we'll hold your spot, then you go straight to the booking page to pick a time that suits you.