First-time buyers
Fixed and variable mortgage rates compared
The table below lays out some of the key differences as well as the pros and cons of fixed and variable mortgage rates. Fixed mortgage
First-time buyers
First-time buyers
Home Buyers’ Plan (HBP)
To help you come up with a down payment, you may be eligible for the HBP. The HBP allows you to withdraw up to $35,000,
First-time buyers
How much is a minimum down payment?
Buying property for the first time? The first question that would come to mind is what is the minimum down payment that you would need to put down to buy a property?
The answer; depends on the value of the property you are looking to buy. If you are looking to buy a property for $500,000 or less you can put down a minimum of 5%. If the property is worth between $500,000 and $999,999, then the minimum down payment you need to come up with would be 5% on the first $500,000 and 10% for the rest of the purchase price. If the property is worth $1 million or more, then the minimum down payment needed is 20%.
