How much home can you afford? First time homebuyers or those looking for a new home may be impacted by the changes to the down payment minimum and may need to save up a little longer for the Mountainview home of their dreams. What should buyers know about the Canadian down payment as it applies to different home prices?
Understand more about down payment minimums and changes to the Canadian housing market.
A New Minimum Down Payment
Homebuyers may have a difficult time coming up with money for a significant down payment on the purchase of a home. It appears lenders may get their way and the minimum down payment may soon rise. This may make it harder for first-time home buyers to get into a desired home and they may have to go for a more…