Canadians say down payment help is no longer a 'nice-to-have'--but essential for many, new MPC survey shows

TORONTO, July 17, 2025 /CNW/ - Seven in 10 recent homebuyers say they could not have purchased their home without help with the down payment, according to new national data from Mortgage Professionals Canada (MPC).

The findings point to an affordability system under strain, as more Canadians rely on family gifts, loans and other outside help to get a foot in the housing market.

The picture shows a man and a woman putting large coins into a big jar, representing how people need help saving enough money to buy a home. The main message states that 58% of Canadians would not have been able to afford their down payment without assistance. This figure represents a slight decrease of 2 percentage points from the previous year. (CNW Group/Mortgage Professionals Canada)

The insights come from Mortgage Professionals Canada's annual State of the Housing Market survey, conducted by Bond Brand Loyalty earlier this year. The poll of 2,000 Canadians reveals a growing divide in access to homeownership—and rising demand for guidance in a high-stakes borrowing environment.

Key findings from the 2025 survey:

• Down payment support is now essential: Among buyers in the past two years, 70% say they couldn't have bought their home without financial help. Among all recipients, 58% say the same.
• Affordability gaps are shifting consumer behaviour: With 74% of mortgage holders set to renew in the next three years, 1 in 5 say they're anxious about what those renewals will look like.
• Consumers still lean fixed: Fixed-rate mortgages remain the top choice, preferred by 68% of borrowers surveyed. Variable-rate holders were nearly twice as likely as fixed-rate borrowers to make extra payments, and younger Canadians were more likely to increase their payment frequency.
• Broker clients report higher satisfaction: Consumers who used a mortgage broker were more likely to feel confident in their mortgage decision and reported higher satisfaction with the advice they received compared to those who went directly to a bank.
• Renovation and income potential now shape buying decisions: Over 70% of homeowners say they've recently renovated or plan to, and a growing number say rental income is necessary to help cover housing costs.
• Canadians want stronger safeguards against mortgage fraud: Concern about mortgage fraud is rising, with 34% of Canadians now rating their concern as high, up from 29% a year ago. A full 85% say the issue is serious enough to warrant stronger security measures. Support for enabling mortgage professionals to verify income directly with the CRA has also grown, with 57% now in favour, up seven points from 2023.

Mortgage brokers gaining traction as lending grows more complex

As affordability pressures rise, Canadians are increasingly turning to brokers for help understanding their options. Two-thirds say they're likely to use a broker for their next mortgage. Among those who already have, 81% say they'd return to a broker again.

"Down payment assistance is no longer a backup plan—it's a requirement for many Canadians hoping to buy," said Lauren van den Berg, President and CEO of Mortgage Professionals Canada. "These findings confirm what brokers across the country are seeing every day: consumers are under pressure, and they need expert, transparent advice to find a way forward."

Advocating for stronger protections and smarter tools

As Canadians face more financial strain and mortgage complexity, MPC continues to advocate for smart, targeted policy improvements. Among them is the association's call for secure CRA-enabled income verification tools that would help mortgage professionals detect and deter fraud while maintaining strong consumer privacy protections.

"Canadians are concerned about mortgage fraud. It artificially inflates home prices, and makes it more difficult for honest, hardworking Canadians who rely on legitimate income and savings to compete and enter the housing market. MPC is working to protect both the integrity of the mortgage system and the consumers it serves," van den Berg added. "We've urged the government to enable income verification in a way that's safe, fast, and fair. It's one more way we're standing up for Canadians in this critical moment."

The full 2025 State of the Housing Market report is available here.

About Mortgage Professionals Canada
We are Canada's mortgage industry association with over 15,000 members and more than 1,000 member firms. We are a non-profit association representing mortgage brokers and agents, as well as banks, lenders, insurers, and service providers, making up the largest network across the country. Forty-five percent of first-time home buyers in Canada choose brokers for their mortgage.

We are proud to be the industry that provides Canadians with choice when making the most important financial decision of their lives and help people achieve the dream of home ownership. You can find one of our licensed members at findmeabroker.ca.

SOURCE Mortgage Professionals Canada

Jasmine Toor, Vice President, Public Affairs, Mortgage Professionals Canada, [email protected]