When buying a home, 5% down payment is barely enough

How much skin should you have in the game if you want to buy a home? Is 5% enough? That's what the government says, although there is plenty of discussion about getting consumers to plunk down more before they are eligible to buy a house with a loan backed ultimately by the Canadian taxpayer. At that rate, with $35,000 you have enough cash to buy an average place in Vancouver's pricey but slowing … [Read more...]