Common sources of down payment
These are not the only sources of a down payment but according to our mortgage professional of choice, they are the most popular. If you would like to find out if the funds you are holding can be used towards your down payment for the purchase of a home, please send me a DM and I can introduce you to my mortgage partner today!
· Chequing Account
· Savings Account
· Proceeds from the sale of a property
· Investments such as TFSA
· Mutual Funds
· Gift from immediate family members (non-repayable)
Some sources are easier to access than others so when it comes to your deposit remember to reach out to your financial planner, financial expert, or mortgage professional well in advance to understand the process and what is needed for you to access the funds with ease.
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