“ It is prudent mortgage advice for co-owners financing jointly on homes to memorialize contingency plans upfront either in cohabitation agreements or separation agreements detailing what
should happen if separation, default, disability or death situations emerge after a while.
The minimum downpayment is 5% on mortgages as much as $500,000
and 10% above that amount for non-insured mortgages. The First Time Home Buyer Incentive reduces monthly costs
through shared CMHC equity with no repayment. ”