You may need less down than you think
The federal minimum down payment 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.
Dereck Landry 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. Dereck works out what lenders will approve, what you would need up front, and what the monthly payment really looks like.
4.8★ from 44 reviews Mortgage Broker · FSCO Agent Lic. M08009340 · Mortgage Intelligence inc. · Newcomer and self-employed programs · 4.8 on Google across 44 reviews
Dereck Landry Mortgage Broker, AMP
Your pre-approval, in writing
A real budget and a held rate on paper before you tour a single home.
Dereck has been placing mortgages for 17+ years and compares options across over 50 lenders, from the big banks to credit unions and alternative lenders. There is no cost to talk and no obligation. Serving Kitchener, Waterloo, Cambridge and Waterloo Region.
Most first-time buyers start with a listing they love and work backwards. It is easier the other way around.
Dereck sets the real budget first and walks through the programs that fit your file, including newcomer and self-employed lending, 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. If they move down, you get the lower one.
Perfect credit is not the bar
Lenders look at the whole file, and different lenders weigh it differently. Dereck knows which ones fit a shorter credit history, including if you are new to Canada.
One conversation before the house hunt
Nothing to prepare for the first call.
Dereck Landry You send
The basics: what you earn, what you have saved, and where you want to buy.
You talk
What you can afford, what you would need up front, and what a held rate protects while you look.
You decide
You leave with a number you can trust and a pre-approval path in writing, ready when you are.
What we offer
- Mortgage renewals and switches
- First-time home buyers
- Refinancing and home equity
- Debt consolidation
- Self-employed and business-for-self
- New to Canada
Client testimonial review 4.8 from 44 reviews
“Thanks Dereck for going above and beyond and holding my hand during my first ever home purchase! Thanks for your amazing gift too!”
Frequently asked questions
How much do I really need for a down payment?
The federal minimum 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. Dereck works with them regularly and will tell you upfront what your file needs.
Buying your first place?
Request a callback
Leave your details and Dereck Landry Mortgages gets back to you directly to set up a time that works for you.
- Mortgage Broker · FSCO Agent Lic. M08009340
- Mortgage Intelligence inc.
- Newcomer and self-employed programs
- 4.8 on Google across 44 reviews
You'll be speaking with Dereck Prefer to talk? Call (519) 208-4145.
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Prefer to talk now? Call (519) 208-4145.