Can parents use equity in their home to help with my down payment?
Parents may access a HELOC, refinance or second mortgage, but their payment, risk and retirement plan must be reviewed alongside the buyer’s mortgage.
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Can my family send the down payment from outside Canada?
Overseas family funds may be acceptable, but identity, relationship, transfer history, currency and timing require a clean paper trail.
Can I combine an FHSA, the Home Buyers’ Plan and a family gift?
Eligible buyers may combine several down-payment sources, but each source has its own conditions, timing and paper trail.
Can I buy a home from a parent using gifted equity?
A below-market family sale may create usable equity, but appraisal, lender, insurer, tax and legal treatment must align.
Should family help be documented as a gift or a loan?
Calling a repayable family advance a gift can create underwriting, legal and relationship problems later.
How and when can I remove a parent or co-signer from my mortgage?
A co-signer is not removed automatically; the remaining borrower must qualify and the lender and lawyer must approve the change.
Can I borrow my down payment from a line of credit?
Borrowed funds may be possible under selected programs, but the new payment affects qualification and must be fully disclosed.
What proof does a lender need for a gifted down payment?
A gift letter is only one part of the review; the lender may also require account history, transfer evidence and confirmation that repayment is not expected.
Will co-signing my child’s mortgage reduce my own borrowing power?
A co-signed mortgage can affect the parent’s debt-service calculation, credit exposure and plans to renew, refinance or buy another property.
How can I protect myself from a suspicious mortgage operator?
Verify the Ontario licence, brokerage and contact information independently. Read documents before signing, confirm fees and lender identity, keep copies, and refuse requests to lie, alter records, route money through strangers or sign blan