Using savings from abroad or a family gift for your down payment

Many families build their down payment from savings back home, the sale of property abroad, or help from relatives. This can work, but money that isn’t clearly documented is a common reason for last-minute problems.

This guide is general information as of November 2026, not legal, tax, immigration, mortgage or financial advice. Rules change, so confirm your situation with a qualified professional.

How much do you need?

The federal minimum depends on the price:

• Up to $500,000: 5%
• $500,000 to $1.5 million: 5% of the first $500,000, plus 10% of the rest
• $1.5 million or more: 20%

Lenders may ask for more, for example if you are self-employed or have a limited credit history in Canada. Many newcomer programs have their own requirements, so ask early.

Lenders and lawyers need to see where the money came from

Expect to show records such as:

• Bank statements, often covering about three months
• Proof of where overseas money came from, such as a sale agreement or an employment record
• Transfer receipts showing the money moving to your Canadian account
• Certified translations of documents in Farsi, Dari or other languages

Gifts from family

Many lenders accept a gift from close family toward a down payment, usually with a signed letter confirming it is a gift and doesn’t need to be repaid. Rules vary, so ask your lender before the money moves.

If your money is in Afghanistan or Iran

Moving money from these countries can be difficult. Banking restrictions and sanctions may apply, and informal channels such as hawala or sarafi can be hard or impossible to document. Talk to your lender and a lawyer before you move anything, so the money you worked for can actually be used.

Plan ahead

Bring your money to Canada early if you can, and keep every record. Remember to budget for closing costs too. A mortgage professional can tell you what applies to you, and Lena can help you plan your search around it.