How Much Income Do First-Time Homebuyers Really Need in Canada? Insights from the Financial Post & Rock Solid Mortgages

By Rock Solid Mortgages | | Tagged Calgary real estate , Canadian housing market , first-time homebuyers , Mortgage Broker

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Buying your first home is a major milestone—but in today’s Canadian housing market, it can also feel like an uphill climb, especially if you're going it alone. A recent article from the Financial Post explores this challenge and features insight from Remi Korent, Mortgage Broker at Rock Solid Mortgages, on how income, family dynamics, and affordability all shape the journey for first-time buyers.

Read the full article here

The Rising Income Barrier for First-Time Buyers

In the article, Remi Korent puts it plainly:

“It is harder and harder to purchase (when you’re) single,” said Remi Korent, broker at Rock Solid Mortgages, licensed with Quantus Mortgage Solutions. “A lot of people rent until they buy, or they buy when they have kids.”

Remi’s insight reflects what many Canadians are experiencing: homeownership is becoming increasingly out of reach for individuals buying on a single income. Dual-income households, family financial support, and strategic saving have become more important than ever.

So, What Does It Take to Buy Your First Home in 2025?

The Financial Post reports that the average Canadian first-time buyer is around 36 years old, with typical down payments ranging from 5% to 20%, depending on the home price and mortgage insurance requirements. In cities like Calgary, where Rock Solid Mortgages is based, home prices are more affordable than in Vancouver or Toronto—but even then, the combination of inflation, interest rates, and stress test requirements means first-time buyers need to be financially strategic.

Rock Solid Advice for First-Time Buyers

At Rock Solid Mortgages, Remi Korent brings more than 12 years of mortgage brokerage experience—plus five years working directly for mortgage lenders. That means he understands the process from both sides of the table, giving his clients a powerful advantage when navigating approvals, lender policies, and financial planning.

Whether you're a salaried employee, self-employed, or buying as a couple, Remi helps tailor a financing strategy that fits your goals—not just your immediate purchase.

He’s particularly experienced in:

  • Guiding first-time buyers through the pre-approval and application process

  • Structuring mortgage options to work with your income and savings

  • Helping French-speaking clients with personalized bilingual service

  • Solving complex scenarios with creative, lender-level insight

Buying Solo? Here's What You Can Do

If you’re purchasing on a single income, here are a few ways to get ahead:

  • Get pre-approved early to understand your true budget

  • Explore co-ownership with a friend or family member

  • Look into first-time buyer incentives such as the First-Time Home Buyer Incentive or tax credits

  • Work with a broker like Remi who can help find lenders open to more flexible income qualifications

Ready to Make Your Move?

Buying your first home doesn’t have to be overwhelming. With the right mortgage expert on your side, you can make confident, informed decisions that set you up for long-term success.

Contact Rock Solid Mortgages today and let Remi Korent help you find a mortgage solution built just for you.

Visit Rock Solid Mortgages to get started.

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