Get ready for the thrill of homeownership
Making your first dream home a reality
Buying your first home
Here are a few key points to consider when planning to buy your first home.
Define your first home needs versus wants
Find the right home by understanding what’s important and what you can live without.
Decide on your budget including closing costs
When you’re saving for a home, you need to consider more than just your down payment. Determine how much your home will really cost.
Get pre-approved for a mortgage
Know what you can afford and show a seller you mean business by getting pre-approved.
Use a realtor to find your home
From uncovering hidden gems to making an offer, a realtor will give you expert guidance.
Take the next steps to finalize your mortgage
Once you have an accepted offer, it’s time to take the next step to homeownership: finalizing your mortgage.
Get peace of mind with home insurance
Make sure your prized possessions are fully covered. All it takes is the right insurance.
MORTGAGE CASHBACK
Get up to $3,500 cash back with a mortgage from Coastal Community!
For a limited time, get up to $3,500* cash back when you transfer a mortgage to Coastal Community or take out a new mortgage with us.
*Some conditions apply
Coastal Community Mortgages
Mortgage choices
Not all mortgages are created equal. Here’s what we offer:
1. Rate Type
Fixed rate
The interest rate and payment amount are locked in over the term.
Great for those who want the security of knowing their payments will remain the same.
Variable rate
The interest rate will fluctuate with the Prime rate over the term of the mortgage.
Great for those who think rates will decline so they can pay down more principal.
Fixed & Variable rate
A mortgage with a mix of fixed rate and variable rate components.
Great for those who want the security of a fixed rate with the flexibility of a variable rate.
2. Payment Schedule
Monthly
You make 12 payments a year due on the same day of every month.
Great for those who want to keep flexibility in their budgets.
Accelerated Bi-Weekly
Your monthly mortgage payment is divided in two and that amount is due every two weeks.
Great for those who want to save in interest and pay off their mortgage faster.
Weekly
Your monthly mortgage payment is multiplied by 12 months and divided by 52 weeks to get a weekly payment amount.
Great for those who use a weekly budget to keep close track of their finances.
3. Amortization and Term Lengths
Amortization Period
25 years
Great choice for first time buyers with less than a 25% down payment.
Variable Rate
The interest will fluctuate with the Prime rate over the term of the mortgage.
Great for those who think rates will decline so they can pay down more principal.
Term Lengths
Term length can range, but many first time buyers choose 5 years.
Great for those who want to lock in their interest rate for a longer period of time.
For the First Time Home Buyer
Our Learning Centre is dedicated to providing our members, clients & communities with content focused on improving financial health.
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When day-to-day costs rise or an unexpected bill arrives, it can be tempting to put retirement savings on hold. Here’s…
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How to talk to young adults about money
From that first real paycheque to managing spending to saving for a car or a weekend in Tofino, here’s how…
ONE GRAND PLAN
Get $1,000 toward your down payment, plus helpful expertise
Contribute at least $100/month consistently and we’ll give you $1000 toward your down payment for a mortgage with us — with helpful info along the way!
*Some conditions apply. Read the full terms and conditions here.
working with a mortgage expert
A perfect-for-you mortgage ― let’s bring it home
Paint, flooring, fixtures—they can all be tailored to fit your needs, So why not your mortgage? Here’s where we, and our customization skills, come in.
- Bundling different needs (mortgage, car loan, home reno) under one product
- Finding a mortgage term and rate structure that’s right for you
- Securing solutions for future needs like an income property or vacation home
Our featured rates
5 Year Fixed*
(CMHC/Sagen™ Insured)
5 Year Variable*
(CMHC/Sagen™ Insured)
Legal:
*Rates are subject to change without notice. Interest rates are per annum. Terms and conditions apply. In the event of a discrepancy between the rates posted on this website and the official rates posted in our branches, the latter shall prevail.
COASTAL COMMUNITY MORTGAGES
How much can I afford?
Estimate your mortgage payments and determine how much you can afford.
FOLLOW THESE STEPS TO SEE YOUR RESULTS:
Step 1: Enter gross annual income.
Step 2: Enter down payment and amortization period.
Step 3: Select a loan term.
Step 4: Input your monthly debts (including co-owners). View the results.
INSERT CALCULATOR
