CornerstoneCU - Personal Mortgages

STEP 1: Get a True Pre-approval

Home purchasing doesn’t just start with “H”, it starts with a mortgage pre-approval! In all seriousness, when you first decide you want to purchase a home, it is wise to get a pre-approved mortgage.

Our true pre-approval process will tell you how much of a mortgage you qualify for, ensuring you are looking at homes in your price range. At Cornerstone, we can get you pre-approved in 24 hours, ensuring you only have to worry about the fun stuff - searching for your dream home!

Mortgage Checklist

Get Pre-Approved

STEP 2: Select a Realtor

Buying a home is one of the most important financial decisions you’ll make in your life, so choosing the right real estate agent can make or break your home buying experience.

We strongly recommend working with a licensed Real Estate professional to get the best advice and service when purchasing a home. A Real Estate Agent is there to represent you during the homebuying process, assessing the value or red flags of a home, putting in an offer or negotiating, facilitating paperwork for purchasing offers, etc. Need a referral? We know some pretty great realtors, and would be happy to introduce you!

STEP 3: Make an Offer

Once you’ve found the home you are interested in, it's time to make an offer! The offer to purchase is more than what you're willing to purchase the home for. It may also include other conditions, such as a satisfactory home inspection or the review of condominium board minutes. Don't worry - your Real Estate Agent will help you through this process.

STEP 4: Completed and Accepted Offer to Purchase

Once the offer is accepted, provide a copy of the Offer to Purchase and property features to your Advisor. We'll work with you on obtaining the required documentation needed (such as appraisal, removal of conditions, etc.) to get you a final approval on your mortgage.

STEP 5: Sale & Signing

Once you have met all your financing conditions, after discussions with your Real Estate Agent, you may choose to remove the conditions on your offer. Once all the conditions are removed, you have a firm sale, pending possession. You'll sign the mortgage application with us, and instructions will be sent to your lawyer’s office at that time. Your lawyer will call you in to sign the formal mortgage documents, usually about two weeks prior to the completion date (the day that the money is given to the sellers and the property is transferred to your name).

Congrats! After 5 easy steps, you are now a homeowner! Now go get that classic “We Bought a Home” picture you’ve always dreamed of!

First Home Savings Account

An investment arrangement available to Canadian residents aged 18 or older, that gives first-time home buyers a tax advantage option to save for a down payment.

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The Home Buyers' Plan (HBP)

The Home Buyers' Plan (HBP) allows you to withdraw from your registered retirement savings plans (RRSP's) to buy or build a qualifying home for yourself or for a related person with a disability.

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First-Time Homebuyers' Tax Credit

The First-Time Homebuyers' Tax Credit provides a provincial non-refundable income tax credit to eligible first-time homebuyers.

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Metis Nation - Saskatchewan FTHB Program

The First-Time Home Buyers Program assists eligible Métis citizens with a contribution of $15,000 toward the down payment of a new home. A further $2,500 is available to help cover closing costs.

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