US EditionCanadians say down payment help is no longer a 'nice-to-have'--but essential for many, new MPC survey shows
CANADA, JUL 17 – A survey of 2,000 Canadians finds 70% of recent homebuyers rely on family gifts, loans, or mortgage brokers due to rising home prices and affordability challenges.
- Mortgage Professionals Canada released a July 17, 2025 report showing 7 in 10 recent Canadian homebuyers needed financial help to purchase their homes.
- The survey revealed a growing divide in homeownership access and that down payment assistance is now a required support, not a backup plan.
- Additional findings show 20% of homeowners approaching mortgage renewal feel anxious, while 68% of borrowers prefer fixed-rate mortgages amid rising affordability pressures.
- Lauren van den Berg emphasized that for a significant number of Canadians looking to purchase a home, receiving help with down payments has shifted from being an optional fallback to an essential necessity, reflecting the increasing challenges in the housing market.
- The report implies sustained demand for financial help and expert advice as Canadians face affordability challenges and elevated concerns about mortgage fraud.
14 Articles
14 Articles
Winnipeg Free Press
Help with down payment now essential for many homebuyers: survey
Breaking News, Sports, Manitoba, Canada
Canadians say down payment help is no longer a 'nice-to-have'--but essential for many, new MPC survey shows
TORONTO, July 17, 2025 /CNW/ - Seven in 10 recent homebuyers say they could not have purchased their home without help with the down payment, according to new national data from Mortgage Professionals Canada (MPC). The findings point to an affordability system under strain, as more Canadians rely on family gifts, loans and other outside help to get a foot in the housing market. The insights come from Mortgage Professionals Canada's annual State…
Younger homebuyers turn to social media, AI and each other
Faced with high housing costs, economic instability and declining trust in traditional lending institutions, younger generations are redefining how they approach homeownership. A newly released NextGen Homebuyer Report — compiled by National Mortgage Insurance and financial literacy nonprofit FirstHome IQ — highlights how Gen Z and millennials are creatively navigating a changing real estate landscape. Since 2020, the annual report has tracked t…
70% of new homebuyers needed down payment help: study
A majority of recent homebuyers say they couldn’t have purchased their home without help covering the down payment, according to new research from Mortgage Professionals Canada. Among buyers in the past two years, 70 per cent say they couldn’t have bought their home without financial support. The findings highlight a housing affordability system under pressure, as more Canadians turn to family gifts, loans and other outside support to enter the…
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