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I’s the reason you clip coupons and choose the office coffee rather than hitting the local coffee shop on your way to the office. It’s the reason you’ve become more familiar with the creatively cost-efficient “staycation” rather than a lavish vacation, and the reason you carefully consider each purchase before swiping your card. That’s right, it’s time to discuss the down payment, and more importantly, discuss exactly what is a down payment?

 

For those of you who have done your research, you know that when it comes to your down payment, you have a few options to consider. The down payment is the part of the purchase price that you come up with in advance of getting your mortgage, and the amount of your down payment is something you should have set before beginning the search for your dream home.

Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.