A down payment can come from several different resources.

1. You can use your RRSP’s as a down payment.  You are required to pay them back within 15 years but you can deduct them tax free when using an RRSP as a down payment on a home as a first time home buyer.

2. Your down payment can come from your savings.  A lender would ask to see your last three months bank statements to confirm the money has been in your account for a number of months.

3. You can have your down payment gifted from a direct reletive.  A lender would require a signed gift letter and a bank statement confirming the deposit.

4. Your down payment can come from the sale of your current or previous home.  A lender would want to see a signed sale agreement and a proceeds of sale statement as well as any mortgage statement to confirm what amount you have available after selling your home and paying out your existing mortgage.