First-Time Home Buyer Mortgage in Regina, SK: Your Ultimate Guide (2025)

Buying your first home in Regina is exciting, but it can also feel overwhelming. Between finding the right property, navigating mortgage rates, understanding lender requirements, and managing a budget, first-time buyers often feel lost.

Dealerhop has partnered with Homewise, Canada’s leading online mortgage platform, to make your first-time home buying experience simple, fast, and tailored to your needs.

Here’s everything you need to know to secure your first-time home buyer mortgage in Regina.

🏡 Why Dealerhop + Homewise Is Ideal for Regina Buyers

• Fast, Online Application – Apply from home in minutes. No bank visits required.
• 30+ Lenders in One Place – Homewise matches your profile with banks, credit unions, and financial institutions to find the best fit.
• We Negotiate For You – Forget calling multiple lenders. Homewise handles negotiations to secure low rates and favorable terms.
• Multiple Tailored Mortgage Options – Compare a variety of mortgages designed around your budget and lifestyle.
• Dedicated Guidance – A personal Homewise Advisor guides you from application to closing, answering all your questions.
• Free & Transparent – No hidden fees, no lender bias, no jargon — just clear mortgage solutions.

🔹 Step-by-Step Guide for Regina First-Time Buyers

1. Apply Online

Complete your application via Dealerhop + Homewise in just a few minutes. Your answers create a custom mortgage profile tailored to you.

2. Profile Matching

Homewise identifies the lenders and mortgage programs that match your financial situation and homeownership goals.

3. We Negotiate on Your Behalf

Homewise contacts lenders to secure the lowest rates, ideal terms, and features that save you money.

4. Compare Your Options

Receive multiple mortgage options — fixed, variable, short-term, long-term — so you can choose what works best for your lifestyle.

5. Get Approved With Confidence

Your Homewise Advisor helps you prepare documents, understand the mortgage terms, and navigate pre-approval and final approval smoothly.

🏙️ Why Regina Is a Great Place for First-Time Buyers

Regina offers first-time buyers affordability and a strong community atmosphere:

• Neighborhoods – Consider areas like Broadway, Harbour Landing, Lakeview, Hillsdale, and Twin Lakes.
• Affordable Market – Prices in Regina are more approachable than in larger Alberta or Ontario cities.
• Community & Amenities – Access to parks, trails, rivers, schools, and recreation facilities.
• Job Growth & Stability – Saskatchewan’s provincial capital offers stable employment opportunities.

Example: Jane and Mark, first-time buyers in Regina, were able to secure a $350,000 home in Harbour Landing with a fixed 5-year mortgage at 5.09% — all thanks to multiple lender options from Dealerhop + Homewise.

🎁 First-Time Home Buyer Incentives in Saskatchewan

Regina buyers can maximize savings with programs such as:

• First-Time Home Buyer Incentive (FTHBI) – Shared-equity program to lower monthly mortgage costs.
• RRSP Home Buyers’ Plan (HBP) – Withdraw up to $35,000 from your RRSP tax-free for your down payment.
• GST/HST New Housing Rebate – Get a rebate on the GST portion of your new home.
• Provincial Programs – Saskatchewan sometimes offers grants or low-interest loans for first-time buyers.

💡 Tips & Tricks for Regina First-Time Buyers

1. Get Pre-Approved First – Strengthens your offer and helps you understand your budget.
2. Save for a Down Payment – Aim for at least 5–20% to reduce mortgage insurance costs.
3. Budget for Closing Costs – Include legal fees, land transfer fees, inspections, and moving expenses.
4. Consider Fixed vs. Variable Rates – Fixed offers stability, variable may save money if rates drop.
5. Don’t Make Major Purchases – Avoid new credit cards or car loans before your mortgage is finalized.
6. Leverage Multiple Options – Compare lender options through Dealerhop + Homewise to find the best deal.
7. Think Long-Term – Factor in resale value, neighborhood growth, and potential future upgrades.

Example Tip: If you’re eyeing a property in Lakeview, consider proximity to schools and transit — it may impact your long-term resale value.

🔹 Common Questions for First-Time Buyers in Regina

Q: How much mortgage can I afford in Regina?
A: Generally, your mortgage should not exceed 32–35% of your gross monthly income. Pre-approval from Dealerhop + Homewise gives you a clear picture.

Q: Can I buy with less than 20% down?
A: Yes, but you may need mortgage insurance. Your advisor can show you cost-effective options.

Q: How long does approval take?
A: With Dealerhop + Homewise, pre-approval can happen in hours to a few days, depending on document readiness.

🚀 Start Your Regina Mortgage Application Today

With Dealerhop + Homewise, buying your first home in Regina doesn’t have to be stressful:

✔️ Fast online application
✔️ Multiple mortgage options from 30+ lenders
✔️ Negotiated rates to save you money
✔️ Expert guidance every step of the way

Take the first step — apply today and get matched with your ideal mortgage in Regina.