Guide · First-Time Buyer Programs & Costs

How Much Should You Put Down on a Home?

Canada’s minimum down payment rules depend on the home’s purchase price — and the right amount to put down isn’t always the most you can afford. Here’s what to weigh before you commit.

Steven Brennan

10 Oct, 2026

Saving for a down payment is one of the biggest financial goals for prospective homebuyers. But after years of putting money aside, it can be easy to lose sight of the bigger picture. A larger down payment reduces your mortgage, lowers your monthly payments and can save you interest. Commit too much cash to the purchase, however, and you may be left short for closing costs, repairs or unexpected expenses.

Read article

Latest

News

Statistics Canada

Canada Lost 68,300 Jobs in September, Rate Hike Expectations Pull Back

Canada lost 68,300 jobs in September, erasing all 2026 employment gains and pushing back Bank of Canada rate hike expectations, welcome news for variable-rate borrowers.

Re/Max Canada

65% of Canadian Buyers Will Compromise to Get a More Suitable Home: Re/Max Survey

A Re/Max survey finds 65% of Canadian buyers will compromise on location, property type, or finances to afford a more suitable home. Buyer-friendly market conditions have doubled compared to a year ago.

Toronto Regional Real Estate Board

Toronto Condo Sales Fall Again in September as Prices Hit Four-Year Low

Toronto condo sales fell again in September and the average GTA price is now 24.3% below its 2022 peak. Rising fixed rates and growing hike expectations are adding pressure from both directions.

More News

Latest

The digest

Mortgage5 min read

The Bank of Canada Hasn’t Moved. So Why Are Fixed Rates Going Up?

The Bank of Canada (BoC) has held its overnight interest rate at 2.25% seven consecutive times as of September 2, 2026. Variable rates have barely budged at all. On the other hand, fixed mortgage rates have been quietly climbing; the reason has nothing to do with the BoC.

Riley Brady

18 Oct, 2026

Mortgage4 min read

What Is Title Insurance and Do You Need It When Buying a Home in Canada?

Title insurance protects you from problems with a home’s ownership history, like fraud, unpaid liens and public record errors. Here’s what it covers, what it costs, and whether you need it.

Riley Brady

12 Oct, 2026

Mortgage5 min read

How to Build Your Credit Score Before Applying for a Mortgage in Canada

Most lenders want a credit score of at least 680 for the best mortgage rates. If you are not there yet, here is what is actually affecting your score and what you can do about it in the next six to twelve months.

Riley Brady

4 Oct, 2026

Mortgage3 min read

How to Choose a Mortgage Broker in Canada

A mortgage broker has access to multiple lenders. A bank specialist has one. Here is what that difference actually means, what to ask before you sign anything, and what red flags to watch for.

Riley Brady

4 Oct, 2026

Mortgage3 min read

How Much Do You Actually Need to Earn to Buy a Home in Canada?

What you earn is only part of the picture. Lenders use debt ratios, the stress test, and your full financial profile to determine what you can actually borrow. Here is how it works.

Riley Brady

4 Oct, 2026

Mortgage2 min read

How Much Are Closing Costs When Buying a Home in Canada?

Closing costs in Canada typically run 1.5% to 4% of the purchase price, on top of your down payment. Here is what is included, what first-time buyers can get back, and how to budget for closing day.

Riley Brady

4 Oct, 2026

Mortgage3 min read

Financing Your First Home vs Your Second: How the Rules Change in Canada

Buying a second home in Canada means losing access to first-time buyer tools and passing the stress test again at your new rate. Here is what changes and what to do before you list or make an offer.

Riley Brady

3 Oct, 2026

Mortgage2 min read

Can Your Parents Co-Sign Your Mortgage in Canada?

Co-signing a mortgage means your parents take on equal legal and financial responsibility, not just a formality. Here is what it means for everyone involved.

Riley Brady

3 Oct, 2026

Mortgage3 min read

Can You Port Your Mortgage in Canada?

Porting a mortgage means transferring your existing rate and remaining term to a new property when you move. Here is how it works, when it makes sense, and what to watch for.

Riley Brady

3 Oct, 2026

Mortgage4 min read

Leveraging SMS Marketing: How Canadian Mortgage Professionals Can Harness Text Messaging to Boost Engagement, Speed Up Conversions, and Serve Every Generation of Homebuyers

In an increasingly fast-paced digital landscape, the way mortgage brokers communicate with clients can make or break a deal.

Riley Brady

1 Oct, 2026

Mortgage14 min read

Three Possible Outcomes on October 28 — and What Each Could Mean for Borrowers

If investors expect a rate increase in December, bond yields may rise in advance. Mortgage lenders can respond by increasing fixed rates even while the overnight policy rate remains unchanged.

Bello Olaseni

30 Sept, 2026

Mortgage9 min read

October 28th Is the Most Important Mortgage Date of 2026. Here Is Why

“What happens on October 28th effectively showcases next year’s rate environment for Canadian mortgage borrowers.”

Bello Olaseni

30 Sept, 2026

How we work

How We Compare Rates

Every rate on financecanada.ca is checked against the lender's own published sheet on the morning a piece is filed, and the date sits on the page so you can tell how old the number is.

We list lenders lowest rate first, always. There is no paid placement and no ranking by relationship; the only thing that moves a lender up the table is a lower number.

Every byline belongs to a person we can name. Writers do not accept payment, gifts or other consideration from anyone in our directory, and when we get something wrong we say so and fix it.

BoC Analysis · After Every Announcement

The BoC analysis, delivered to you.

Rate decisions explained. Independent commentary on what each Bank of Canada announcement means for your finances.