Myth: You Need 20% Down to Buy Your First Home

There’s a common misconception out there: that you need a hefty 20% down payment to buy your first home. In reality, here in Canada, it’s entirely possible to step into homeownership with just 5% down on homes up to $500,000. As someone dedicated to serving Edmonton and the surrounding areas, I see so many clients surprised (and relieved) when they discover this. Your journey to owning a home might be closer than you think—sometimes, all it takes is understanding what’s truly required to get started.