How to Navigate First-Time Home Buyer Mortgages in BC (2025 Edition)
.png)
Buying your first home is exciting — but it’s also one of the most complex financial steps you’ll take. In British Columbia, where property values are high and lending rules are strict, first-time buyers face unique challenges when trying to enter the market. Whether you’re hoping to buy in Surrey , Abbotsford , Langley , or nearby Fraser Valley areas, this guide will help you better understand how first-time home buyer mortgages work in 2025 — and what you can do to prepare for a smooth approval and successful purchase. What Defines a First-Time Home Buyer? In Canada, you’re considered a first-time buyer if: You’ve never owned a home , or You haven’t owned a home in the past 4 years , or You’ve gone through a marital or common-law breakdown and no longer live in a previously owned property Meeting this definition can open the door to several federal and provincial assistance programs. What’s Required to Qualify for a Mortgage in BC? To get appro...