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CMHC's 2025 Mortgage Consumer Survey shows Canadians took 3.4 years on average to save a down payment — down from 4.2 years in 2024 — while gifts and inheritances now touch roughly a third of all purchases.
was the average time Canadian homebuyers took to save their down payment in 2025
— down from 4.2 years in 2024, helped by rule changes, lower rates and rising use of gifts.
CMHC, 2025 Mortgage Consumer Survey
The single biggest down payment source differs sharply by buyer type, even though gifts matter to both.
Largest single contributor to the down payment, by buyer type, 2025. Source: CMHC, 2025 Mortgage Consumer Survey.
Buyers are saving faster than a year ago: the average time to save a down payment fell to 3.4 years in 2025 from 4.2 years in 2024, the fastest pace CMHC has recorded in recent years.
Gifts are large and getting more common: 35% of all homebuyers used a gift or inheritance toward their down payment in 2025, averaging $79,127 — and 78% say they could still have bought without it, though with concessions.
First-time buyers lean on gifts more, but for less money: 41% of first-time buyers used a gift (versus 20% of repeat buyers), but repeat buyers' average gift was larger at $103,382 versus $74,570 for first-time buyers.
Repeat buyers still rely mainly on home equity: 52% of repeat buyers cite equity from a previous home as their largest down payment source — gifts and inheritance are a top-up, not the primary source, for most repeat purchases.
| Buyer type | Down payment source | Share citing as largest |
|---|---|---|
| First-time buyers | Savings | 52% |
| Repeat buyers | Equity from previous home | 52% |
| First-time buyers | Gift or inheritance | 22% |
| Repeat buyers | Gift or inheritance | 11% |
Source: CMHC, 2025 Mortgage Consumer Survey.
of first-time buyers cite savings as their largest down payment source — still ahead of gifts
CMHC
of repeat buyers cite equity from a previous home as their largest source
CMHC
of gift recipients say they could still have bought without it, but with concessions
CMHC
average time first-time buyers specifically needed to save their down payment
CMHC
With a third of buyers now leaning on a gift and repeat buyers routinely rolling in six-figure home equity, down payment verification has become one of the more document-heavy parts of a file — gift letters, 90-day paper trails and source-of-funds checks all take time to do right. That's a natural place to lean on fulfillment support so files move without stalling on paperwork.
Last updated August 1, 2026. Each figure carries its source; projections are labelled. Page reviewed on every major source release. Information only — not advice.
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