Putting a larger down payment on a house has many advantages if you can afford it.
First, it can lower your monthly mortgage payments, making buying your dream home more affordable. It can also reduce the amount of interest you pay over the life of the loan, which can save you money in the long run. Additionally, a larger down payment may make it easier to qualify for a mortgage or to secure more favourable terms, such as a lower interest rate. It’s definitely a wise move if you’re unsure how to do it, make sure to check all the programs available to Canadians.