Helping your child buy? · North York
The gap usually is not the down payment. It is the income.
Most parents assume what their child needs is cash. More often the block is qualifying income, and that is something a parent can solve without handing over savings. I will show you each of the ways to do it and what every one of them actually commits you to.
- 5.0 on Google, 74 reviews
- Mortgage Agent Level 2
- No cost, no obligation
Miriam was very informative and helpful. I learned everything I needed to know and do to make it possible to own my first home. I am happy with my first home and happy to have her handle my mortgage. Thank you.
The bank of mom and dad
Why a parent moves the number more than a deposit does
Bank of Canada research published in 2026 put figures on something brokers have watched happen for years.
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Most co-signed buyers could not have qualified alone
That Bank of Canada research found 74 percent of adult children with a co-signed mortgage would not have qualified on their own income, and that the share of mortgages carrying a parent as co-signer climbed from about 4 percent in 2004 to roughly 11 percent in 2025.
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Income is the lever, not the deposit
Adding a parent adds their income to the application, and that is what moves the amount a lender will approve. The same research put the typical attainable price at about $458,000 for a buyer alone against about $787,000 with a co-signer behind them.
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It does not have to be permanent
A co-signer can often come off later, once your child qualifies on their own income, by restructuring at renewal. That depends on the lender approving them alone at that point, so it is worth planning for from the start rather than assuming it.
Ontario-licensed · License# M1900073. Miriam compares options across a range of lenders through Mortgage Outlet Brokerage, at no cost to talk and no obligation to proceed. Serving North York, Toronto, Vaughan, Brampton and Innisfil.
Miriam Essebag, Mortgage Agent Level 2, License# M1900073. Brokerage: Mortgage Outlet Brokerage, Brokerage License # 12628. Rates and terms are not guaranteed and are confirmed directly with Miriam and the lender. Approval depends on your full application and the lender's own criteria. Nothing here is financial or legal advice.
Frequently asked questions
What am I actually agreeing to?
Does it have to be both parents?
Can I help without co-signing at all?
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- 5.0 on Google across 74 reviews
- Mortgage Agent Level 2, License# M1900073
- Mortgage Outlet Brokerage
- No cost to talk, no obligation
Prefer to talk? Call 647-274-9680.
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