Finally got my offer accepted after 8 tries in Hamilton

I used to think I needed a 20% down payment, but my broker showed me a program for first-timers that only needed 5%. Has anyone else had luck with a smaller down payment recently?

2 comments

2 Comments

barnes.mason7d ago

My cousin in Brantford just closed with 3.5% down using some first time buyer incentive. The mortgage insurance added a chunk to his monthly payment, but getting in the market now was worth it for him.

dakotal197d ago

Yeah, that's exactly what my friend did too, @barnes.mason. The higher payment stings a bit, but you're right, just getting a place is the win.