GIFTed down Payment now possible for New-to-Canada home buyers!!

For New to Canada buyers – Expanded “GIFT-ing” is now possible for close family members!

That’s right! As of now, May 23, 2024, buyers who are New to Canada – in Canada for less than 2 years – ARE now allowed to use /receive GIFTS for down payment from “close family members.”

This is a big deal because it now includes; aunts, uncles, nephews, and cousins; all were not allowed to provide a “GIFT for down payment” before.

The standard used to be only: mother, father, brother, sister, grandparent and legal guardian; and that was it.


From our data that we have on on our own customers, this will help about 20% of our New to Canada files to buy a home, where they would have been shut out before.

Mortgage Mark Herman, top best fantastic Calgary Alberta mortgage broker, specializing in First Time Buyers.


We view that the Expanded Gift-er Options ARE needed due to the average new home price being 500k+, it is super tough for newcomers to save enough to buy a home. GIFTS are relied on all the time by 1st time home buyers.