From first steps to first anniversaries, the physical space that we call home is the bedrock for all of life’s wins, losses and the everyday minute in between.
But getting into that first home can be fraught with confusion – who to trust, fixed rate versus variable or which financial institution to trust to guide your journey.
Getting your mortgage with Coast Capital cuts through the noise with plans focused on clarity and a people-first approach. With an 85-year history, Coast Capital prioritizes community support, digital convenience, easy-to-use financial tools, competitive rates, personalized service — and above all, ethical banking.
“People in Canada are working harder than ever to get ahead: they’re facing record debt levels, income instability and struggles to access the resources they need to thrive,” says Coast Capital Mobile Mortgage Specialist Sara Ferguson. “So we’re leveraging the best of our 85-year history as a member-owned financial cooperative, to continue to drive even more impact with our social purpose business model.”
As Ferguson notes, step one in the first-time home buying process is all about clarity: getting the right information, getting the right advice and understanding the amount you’ll need to save for a down payment.
When your down payment savings are ready, you can then start the next stage in your homebuying journey by getting prequalified for a mortgage. This helps confirm the home purchase price you can afford and allows you to lock in a mortgage rate for up to 120 days while you shop for your new home.
And while the housing landscape is more expensive than ever, Ferguson is confident in the innovation happening right now to help first-time homebuyers enter the market. With options like co-ops, leaseholds and high-ratio mortgages that only require a five per cent down payment, there are solutions to help make your homeownership goals more achievable.
As for the ever-present debate around fixed or variable mortgage rates, Ferguson offers the following: fixed rates provide a level of stability that’s ideal for budgeting and long-term planning; variable rates, on the other hand, start lower but carry more risk as they fluctuate.
It’s here that expert advice is critical. Coast Capital’s Mortgage Advisors can help assess the right mortgage fit based on individual risk tolerance and homebuying timelines.
And whether that advice comes in person or online, Coast Capital’s tools to get the job done are as intuitive as they are easy to use.
You can plan for your mortgage with the credit union’s suite of digital mortgage calculators or learn what home purchase price you could qualify for through a personalized calculation that won’t impact your credit score.
Coast Capital’s Money Chat is a free online tool for members to help understand your current financial health, your goals and where you want to go and how to get there. Meanwhile, Money Manager is a free personal financial management tool for members to help set budgets and track spending across all accounts in one place.
“It makes me feel great when I can help a member achieve their financial goal of purchasing a home or saving money by refinancing,” Ferguson says. “It makes my job have purpose and meaning when I can truly impact someone's life.”
Get in touch with a Mortgage Advisor today at www.coastcapitalsavings.com/mortgages.
