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2525 blv Daniel-Johnson, Laval, QC, H7T 1S9
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Fax: 514-533-0143
First-time buyers — Quebec
First purchase: get your financing ready before you find the property
Above $600,000, every slice of down payment and every existing debt moves your budget by tens of thousands of dollars. Better to know your real number before the showings — and before falling for a house that was never in reach.
- First property purchase
- A purchase at $600,000 or more
- A down payment to structure
- A buying budget to define clearly
Nectarios Petropoulos, mortgage broker (licence 237338), Dominion Lending Centres National. Free, confidential review with no obligation.
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We will contact you shortly to discuss your situation. If your request is urgent, you can also reach us at 514-999-9946.
Who this is for
Do these questions sound familiar?
Most first-time buyers start with showings. The ones who get the house they want start with the numbers.
What is my real budget?
Not the theoretical maximum, but the number that leaves liveable payments once everything is added up.
Is my down payment enough?
Above $500,000, minimum down payment requirements change by price band. At $600,000 or $800,000 the math is not the same.
What else should I plan for?
Transfer duties, notary, inspection, tax adjustments, moving: thousands of dollars that cannot be financed.
Will I be ready to move fast?
In a tight market the file has to be built before the showing, not after.
The basics
What a pre-approval tells you — and what it does not
A pre-approval confirms an amount and often holds a rate for a set period. It does not guarantee the financing: the lender will still verify your documents, your credit at the time, the property you choose and its value. A quick online pre-qualification is worth little more than an estimate.
What really counts is the strength of the file behind the number. Here is what the review settles before your showings.
What gets prepared before the showings
Your actual capacity
Calculated with the stress test and your existing debts, not with a rough formula found online.
The structure of the down payment
Savings, HBP, FHSA, a gift from family: each source has its own rules and documentation lead time. This gets prepared weeks ahead.
The total cost of buying
Monthly payment, municipal and school taxes, insurance, heating, upkeep, plus the closing costs you pay in cash.
The right lender for your profile
Salaried, self-employed, bonus or commission income: the grids differ, and so does the amount approved.
If the review shows the plan is too tight, you will know before submitting an offer rather than during the financing condition. That is often the single biggest saving in the whole process.
The process
How the review works
A simple three-step process, at no cost and with no obligation.
Your real budget
Income, debts, credit and down payment: we set a realistic purchase capacity, with a number attached.
Your strategy
We structure the down payment and the financing around your project, your priorities and the type of property.
You shop with confidence
You know what to look for, what price to target and how the financing will be structured before you offer.
Your team
Supported from the first question to the signature
When you need it, you can rely on a network of trusted professionals at every step of your purchase.
Real estate brokers
For the search, the showings and the negotiation on your first property.
Financial security advisors
To think through the protection that fits your new reality as an owner.
Notaries
To carry the transaction through to closing and signature.
What changes
What the preparation gives you
Every file is different and no outcome can be guaranteed in advance. Here is what the review usually gives you.
- A purchase budget with a number, and the monthly payment that goes with it.
- A down payment structured and documented before the seller asks.
- The cash needed for closing costs, which almost everyone underestimates.
- A file ready to support a fast offer in a competitive market.
Who you will be talking to
A mortgage broker from the very first question
Nectarios Petropoulos is a mortgage broker with Dominion Lending Centres National and has worked with Quebec buyers since 2016, from the first calculation through to signing at the notary.
A broker works with several lenders: banks, alternative lenders and private lenders. The job is to compare what exists for your situation and explain the consequences of each option, including when doing nothing is the better call.
- Broker
- Nectarios Petropoulos
- Licence number
- 237338
- Brokerage
- Dominion Lending Centres National
- Office
- 2525 Daniel-Johnson Blvd, Laval, Quebec H7T 1S9
- Phone
- 514-999-9946
Frequently asked questions
Buying your first home: your questions
Why prepare the financing before finding a property?
Because the maximum price is only part of the equation. You also need the required down payment, the real monthly payment, the effect of your debts, the cash needed at closing and the lenders' criteria. That is the difference between a budget that is comfortable and one that is merely financeable.
Does a pre-approval guarantee my financing?
No. It confirms an amount and often holds a rate for a period, but final approval depends on document verification, your credit at the time of purchase, the property chosen and its appraised value.
What down payment is needed on a $600,000 property?
Minimum requirements vary by price band and step up above $500,000. At 20% down the mortgage no longer has to be insured, which changes both cost and options. We calculate the exact amount that applies to your purchase under the rules in force.
What should I get ready before we start?
Pay stubs or tax returns, bank statements, proof of where the down payment comes from, and a list of your debts. The earlier those arrive, the faster the file moves when it matters.
Does a credit check hurt my file?
A broker's check leaves a mark, but mortgage inquiries grouped within a short window are generally treated as a single search by the credit bureaus. That is far better than scattered applications across several banks.
How long is a pre-approval valid?
Often 90 to 120 days depending on the lender. It can usually be renewed, with updated documents if your situation has changed.
Your first home starts with a plan
Let's prepare your budget, your down payment and your financing before you find the right place.
The information on this page is provided for general guidance only and is not an offer of credit or a guarantee of approval. A pre-approval or initial review is not a final approval. Down payment requirements, amounts, rates and conditions vary with the lender, the property and the rules in force, and are subject to review.