TORONTO — A new survey says financial help with a down payment is now essential for many homebuyers.
A Mortgage Professionals Canada survey shows seven in 10 recent homebuyers say they could not have purchased their home without relying on family gifts, loans and other outside help.
Mortgage Professionals Canada CEO Lauren van den Berg says down payment assistance is no longer a backup plan but a requirement for many Canadians hoping to buy a home.
The survey also shows one in five homeowners who have an upcoming mortgage renewal feel anxious about what their new payments could look like.
It adds 68 per cent of the borrowers surveyed prefer having a fixed-rate mortgage.
Meanwhile, the report shows variable-rate holders were nearly twice as likely as fixed-rate borrowers to make extra payments.
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Ritika Dubey, The Canadian Press
This report by The Canadian Press was first published July 17, 2025.
