Can I use gifted funds as a down payment?

Most lenders will accept down payment funds that are a gift from family as an acceptable down payment. A gift letter signed by the donor is usually required to confirm that the funds are a true gift and not a loan. Where the mortgage requires mortgage loan insurance, Canada Mortgage and Housing Corporation requires the gift money to be in the purchaser’s possession before the application is sent in to them for approval.

Covid Update: Due to the high case numbers of COVID-19 currently being reported in the province, & in an effort to keep our staff & community safe, our office is closed for in person appointments at this time. We are happy to assist you safely virtually. (We offer virtual tours, virtual appointments, and dotloop). In person appointments will only be made when absolutely necessary & must be pre-booked. In this case, we will require you to mask, sanitize, complete a covid questionnaire & show proof of double vaccination. Our service team will also not be completing any inside service calls at this time.   We want to assure you that we have your safety top of mind. We are being very diligent with sanitizing and safety measures when it comes to COVID-19. We thank you in advance for your understanding & look forward to assisting you with all of your housing needs.   For more information on our homes, call us at 902-835-8388 or send us an email @ .   We will continue to monitor the COVID-19 situation as it unfolds, and are working on contingencies that will ensure that our clients may continue to be served during these uncertain times. We thank you for your understanding and we hope you stay safe & healthy. We will get through this together!   Note: This information is current as of January 5th, 2022. 
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