What are the down payment requirements?

Are you wondering what the down payment requirements are when trying to get a loan for Vancouver real estate? First off, wherever your funds are coming from you must provide a 3 month history on those bank accounts. You must show ownership of said accounts. If your bank statements show any large deposits then they will ask for details on that as well if any money is coming as a gift you must also provide proper documentation for that.

Should you be using funds from your RRSP then you will also be asked to show statements from your RRSP of the past 3 months.

For the full list of down payment requirements please watch the video blow courtesy of Vancouver mortgage broker Mark Fidgett.


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