Family First Mortgage

Family First is a wonderful way
to help your children or grandchildren buy a home,
without the stress of lending money to family!

How We Help You Lend the Down Payment

It’s getting harder and harder for young people to buy their first home. Most can afford the monthly costs, it’s the down payment that’s out of reach.

Without a down payment of at least 20%, new home owners pay thousands of dollars in CMHC insurance fees and other costs. What if you could help them with money you already have, save them thousands in fees, and open the door to owning a home, without handing over a cheque?

How it Works

  1. The home buyer qualifies for a mortgage, and a loan for their down payment.
  2. The loan is secured with a term deposit that's in your (the parent or grandparent's) name.
  3. Your term deposit is held as security for the loan until the borrower pays it out in full or refinances it into the mortgage.
  4. Your term deposit continues to be an interest-earning investment within your portfolio.

Apply Now

You'll like this because:

  • You help your kids or grandkids achieve a dream, without having to bear a financial burden
  • You keep your money and it continues to grow
  • You also could save them tens of thousands in CMHC fees and interest
  • You kick start their equity, credit and future
  • Thanksgiving dinners are not uncomfortable because you have not lent or given them money
To learn more about our Family First Mortgage please contact our local Member Service Centre at 1-855-220-2580

Always here to help.

When you're a member of Interior Savings, you're among friends. What do you need to get done today?

Download our First-Time Home Buyer or Mortgage Shopper checklists for everything you need to know about your home-buying journey, or consider meeting with a specialist from the comfort of your own home with our Mobile Mortgage services. Call 1-844-841-HOME (4663) to get started, today!