Mortgages for First Time Home Buyers
Winnipeg and Manitoba Mortgages Made Easy
Unlocking Dreams: Let Our Expertise Pave the Way for First-Time Home Buyers to Secure Their Ideal Mortgage
We are your trusted Winnipeg and Manitoba Mortgage Brokers
Schedule a CallWhy Choose Us For Your First Time Home Buyer Mortgage?
We are one of the most respected brokerages in the Winnipeg area and our goal is to provide first time home buyers across Manitoba with some of the best mortgage solutions anywhere in the province.
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Wide Range of Options
As Winnipeg Mortgage brokers, we offer access to numerous lenders, including those not available to the public, ensuring you find a mortgage product that perfectly fits your financial needs.
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Expert Guidance
With our mortgage expertise, we provide personalized advice to navigate complex mortgage terms and conditions, helping you make well-informed decisions.
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Cost and Time Efficiency
We are able compare various mortgage deals to secure competitive rates and terms, potentially saving you money and simplifying the application process to save you time.
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Ongoing Support
From start to finish, mortgage brokers such as ourselves, offer continuous assistance, handling paperwork, resolving issues, and ensuring a smooth mortgage application process.
More About The Spooner Group
The Spooner Group originated in 2016 when Tracy founded the brokerage. We offer over 32 years of experience in mortgage financing, real estate and law. Our award-winning team is looking forward to assisting you with all your mortgage needs.
We offer competitive mortgage rates with many features for you to choose from. Our unbiased advice will continue long after your mortgage has funded. We look forward to building a relationship with you for years to come.
What Our Winnipeg Mortgage Clients Have To Say
'Taylor was amazing! She helped us buy our first home with no stress, she was very responsive and helped us with any issues / questions we had. Will definitely recommend the spooner group to anyone i know in need of a mortgage group !'
Jenna Maclean
'The Spooner Group is amazing! Super helpful and will promptly answer all questions. Really loved my experience working with this team.'
Courtney Sabo
'Tracy is absolutely FANTASTIC. She goes above and beyond to help her clients. She's extremely professional and friendly to talk to, and is very knowledgeable about what she does. I would definitely recommend!!'
Katrina Maleski
'Couldn’t ask for better service! They went out of his way to ensure we got approved quickly on our mortgage so we could put in an offer. Being first time home buyers he was able answer any questions that we had and was very communicative throughout the whole process. Thank you Dave!'
Lane Sokolowski
Winnipeg & Manitoba First Time Home Buyer Frequently Asked Questions
We get lots of questions from new home buyers when it comes to how to get a mortgage. Below are just a few of the most common items and as always, we are glad to answer any questions you might have.
What's the 1st step in the buying process?
The first step is usually getting pre-approved for a mortgage. This gives you an idea of how much you can afford, helping you narrow down your home search to properties within your budget.
How much down payment do I need?
The required down payment varies, but in Canada, it's typically 5% of the home's purchase price for properties less than $500,000. For homes over $500,000, you'll need 5% for the first $500,000 and 10% for the portion of the price above $500,000.
How do I choose the right mortgage?
Consider factors like the interest rate, term length, flexibility in repayment options, and whether a fixed or variable rate suits your financial situation better. We can help you navigate these choices and find the best mortgage for your needs.
What additional costs are there?
Beyond the down payment, be prepared for closing costs (like legal fees, land transfer taxes, and home inspection fees), which can range from 1.5% to 4% of the purchase price, as well as ongoing expenses such as property taxes, home insurance, and maintenance.
What is mortgage loan insurance?
If your down payment is less than 20% of the purchase price, you'll need mortgage loan insurance. This protects the lender in case you default on the loan and typically adds to the cost of your mortgage.
Are there government programs for first-time home buyers?
In Canada, there are several programs to assist first-time buyers, such as the First-Time Home Buyer Incentive, which offers 5% or 10% towards your down payment, and the Home Buyers' Plan, allowing you to withdraw up to $35,000 tax-free from your RRSP to buy or build a qualifying home.
Have Questions?
Not Sure Where To Start?
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