This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information , your premiere condominium source


Thanks for the down payment Mom and Dad

Can I "borrow" some money please?  If you are a parent chances are you have heard,  or will hear this from your child at some point.  Who are we kidding, you will likely hear it a lot!  Now usually the child is looking to buy the latest video game, gas, clothes, what have you...however, more and more of these brave little "adorable in a mother's eyes" kids are asking this in regards to a down payment for their first place.  A recent report from the Canadian Association of Accredited Mortgage Professionals say that 18% of first-time homebuyers receive help from their parents.  That is just under 1 in 5 first-time buyers. According to CAAMP, first time buyers put down $18.8 billion in terms of down payments last year, and $2.2 billion was a gift from parents. An additional $1.1 billion came as a loan from the family.

So kids let put it this way, Santa has nothing on Mom and Dad, so if I were you I would work hard to stay off of their naughty list.


 first time home buyers getting help from mom and dad

Search the hottest listings from 1 bedrooms, 1 plus dens, 2 bedrooms, 2 plus dens and 3 bedrooms.  Find it all here with your premier condominium source.

Sayra Gidwani    Salesperson    REsource Realty, Brokerage Independently owned and operated    Direct 416-888-0382 


Popular Searches: Toronto Condos for Sale Toronto New Condo Developments  Scarborough New Condo Developments  Scarborough Condos for Sale  Markham Condos for Sale  Etobicoke Condos for Sale  Etobicoke New Condo Developments VIP Condo Corner

About Us Site Map  Advertise  Careers  Privacy Policy  Client Login  Calculators  Blog  Twitter  Facebook


© Copyright 2000-2019 / All Rights Reserved.

Designated trademarks and brands are the property of their repective owners.