Today on the podcast, I am clearing up one of the biggest myths in Canadian real estate: that every first time home buyer needs 20% down. I break down what the minimum down payment actually looks like in Ontario, how CMHC insurance works, and how to decide whether buying sooner or waiting aligns better with your homeownership and wealth building goals.

In this episode, I cover:

• Minimum down payment rules in Canada: 5%, 10% and how it’s calculated
• What an insured mortgage is and how CMHC, Sagen and Canada Guaranty protect lenders
• The true cost of mortgage insurance and how the premium is added to your loan
• Interest rate advantages of insured mortgages versus 20% down
• Ontario closing costs, land transfer tax and why your down payment is not your only expense

If you are a first time home buyer in Ontario trying to figure out how much you really need saved, this episode will help you make a confident, strategic decision. Tune into Homeowner AF and take the next step toward homeownership with clarity.

Send your podcast questions to hello@briannagoslinmortgages.com and my socials below, or send me a voice note to be featured on the podcast!


Resources Mentioned In This Episode:
How much you need for a downpayment from the Government of Canada: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html?

Canadian mortgage insurers:
• Canada Guaranty: https://www.canadaguaranty.ca
• Sagen: https://www.sagen.ca
• CMHC: https://www.cmhc-schl.gc.ca

Specific Questions? Ready to get started?
Book a free call with Brianna: www.Bricallme.com

Join my mailing list: https://briannagoslinmortgages.myflodesk.com/mortgagebites

Website: http://www.briannagoslinmortgages.com
Instagram: https://www.instagram.com/briannagoslinmortgages
Facebook: https://www.facebook.com/brianna.goslin.mortgages
LinkedIn: https://www.linkedin.com/in/briannagoslinmortgages