Average Down Payment On A Home Unchanged In 35 Years

An annual report conducted by the Canadian Association of Accredited Mortgage Professionals has found that the average amount paid as a down payment for a home in Canada has remained the same over the last 35 years, at 21 per cent.

However despite the amount of down payment being unchanged in this time, the way that first-time homebuyers are making these down payments has changed quite a bit since 2000.

For example, the Canadian Association of Accredited Mortgage Professionals found that first-time home buyers from 2000-2004 said six per cent of their down payment was a gift from parents and six per cent was a loan, while from 2010 to 2014 first-time buyers said 11 per cent of their down payment was a gift and six per cent a loan.

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