This is the question that many home buyers ask themselves when preparing to purchase a home.  If you were to ask 100 people their opinion, most likely half would recommend saving up the 20% and the other half would recommend to go in with what you have (minimum 5%) and purchase the property. I believe in selecting the high ratio mortgage and purchasing your home with 5% -19% down payments, instead of waiting to save 20% or more.  Below is some reasoning for this option.
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What is Private Mortgage Financing?

Private Mortgage Financing can occur when the borrower has to obtain financing outside of the traditional lending sources, i.e. Banks, credit unions, trust companies. The private lenders can be individuals who are searching for a better return on their money or, companies specifically, designed for these purposes.   Private financing is not shady as the bad criticism it may receive. It represents a large portion of the mortgage financing industry here in Canada and provides another option for Canadian borrowers.
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10 Most Livable Cities 3 of Which Belong to Canada

Vancouver, Toronto and Calgary get ranked in the top 10 of the Economist`s annual ranking of the world’s most livable cities. The ranking is based on which cities around the world provide best or worst living conditions according to the five set categories: stability, health care, culture & environment, education, and infrastructure.
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When looking for homes in the city, one will notice that to get a decent sized home in the City of Toronto, you will have to start digging deep into your pockets. It is no secret that this city is one of the most expensive to purchase real estate in and furthermore bidding wars are very common when it comes to the single residential homes. When thinking about affordability, if an individual on their own cannot support the payments on their own, what is a typical solution? Get a partner.
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If you are a new immigrant to Canada, obtaining a mortgage has never being easier.  You can qualify for a standard mortgage of up to 95% of borrowing.  That is right, up to 95%!  This program is open for all new immigrants with permanent residency, temporary residency, or a work VISA.
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Secured Line Of Credit

Using the equity in your property can help grow your wealth and save thousands of dollars in interest over the life of your mortgage.  At the end of the day, we all want to pay off our mortgages faster and if all goes to plan, maybe leave our home or properties to our kids without a mortgage balance owing (lucky for them).  What if there was a mortgage strategy in place that can help you build a real estate portfolio, pay off debts and still pay off your mortgage at a faster pace? By doing this you can potentially leave the property/properties to your child/ren free and clear?
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What is a Reverse mortgage?

What if you had the money to travel, pay off debts, renovate your home, and help your children buy a home or just have more income to do more of the things you wanted to do?  CHIP Canada Home Income Plan / Reverse Mortgage Canada could be just what you need. It’s the simplest and sensible way to use and unlock your home’s equity and turn it into a steady flow of income or a lump sum cash payment to help you enjoy life on your terms.
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All inspections should take between 2-3 hours minimum. If they are shorter, this may be a red flag.
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According to new reports, Canadians are turning to renovations more and more, with their current homes and new purchases as well known as ‘fixer-uppers’. This is what people are referring to as the ‘HGTV effect’. It is no secret that right now, the home renovation shows are all the rage on television right now. From shoes like Disaster DIY, Property Brothers, love it or list it, we cannot deny that these shows are all the rage right now. Spending for this hit a record of $63.4 billion last year and is on the rise to surpass that figure for 2014. Based on figures, more money is being driven into home renovations than new constructions in Canada.
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