How Much Do I Need For A Down Payment?

With Chris Winkler of Castle Mortgage Group

How Much Do I Need For A Down Payment?

When you’re buying your first house, a big question is how much money do you have for a down payment? There really is no maximum down payment, but there is a minimum amount required of 5%. Traditional down payments come from savings, gifts from family, and RRSPs for first time home buyers. In very special circumstances, some down payments might even be borrowed. Even so, there are some funds that can not be used for a down payment - we’d love to help you sort that out.