Homeownership remains a major aspiration for many Canadians – but increasingly, it’s becoming more difficult to achieve.

According to a recent survey by NerdWallet Canada, featured on BNN Bloomberg, one in three Canadians say that saving for a down payment is the number one reason they can’t buy a home.

At Canadian Mortgage Professionals Inc., we understand these challenges firsthand. Based right here in Calgary, we work closely with homebuyers across Alberta to overcome financial barriers and make homeownership a reality – starting with the down payment.

The Down Payment Challenge

Even with entry-level homes in Calgary’s relatively affordable market, a 5% down payment can easily exceed $20,000. Add closing costs, taxes, insurance, and moving expenses, and the burden gets heavier – especially for first-time buyers.

The survey data shows this problem is particularly acute for young Canadians aged 18–34, many of whom are also balancing student loans, high rent, and limited savings. It’s no wonder many feel stuck.

Family Support: A Smart and Growing Strategy

One of the most effective ways to bridge the down payment gap is by partnering with family, especially parents or grandparents who are in a position to help.

Here are some family-based strategies we support:

• Gifted Down Payments: Parents can gift part – or all – of a down payment. We help you ensure the proper documentation is in place to meet lender requirements.
• Co-Signing a Mortgage: A parent’s income and credit can boost your mortgage approval odds and improve the terms.
• Joint Ownership: Purchasing a property together (as co-owners) can reduce financial strain and open the door to better property options.
• Multi-Generational Living: Some families are pooling resources to buy larger homes together, reducing costs while investing in long-term equity.

Our role is to guide all parties through the process, so everything is set up legally, efficiently, and with a clear plan for the future.

How We Help You Navigate the Process

As an experienced Calgary brokerage, we specialize in helping clients:

• Explore low down payment options through insured mortgage programs.
• Access government assistance such as the First-Time Home Buyer Incentive and Home Buyers’ Plan (HBP).
• Understand all documentation requirements for gifted funds or co-borrowers.
• Get pre-approved and lock in competitive rates, even in a shifting market.

Whether you’re just starting to think about buying or are ready to make a move, Canadian Mortgage Professionals Inc. is here to support you from start to finish.

Ready to Take the Next Step?

Don’t let the down payment stop you from reaching your goals. With expert advice, smart planning, and the right team by your side, homeownership is possible – and we’d be honoured to help you get there.

Call us: 403-509-2434
Text us: 403-819-0500
Toll-Free: 1-877-676-4496
Email: [email protected]
Visit: www.canadianmortgagepro.com