How first-time homebuyers are sourcing their down payments
Did you know that the primary sources for down payments among first-time homebuyers* are:
While 71% of potential first-time homebuyers in Canada are aware of the First Home Savings Account (FHSA), only 33% of them are taking advantage*.
Equitable wants to help first-time homebuyers take advantage of all the benefits a FHSA has to offer. Clients who contribute to an Equitable FHSA between May 1 and September 30, 2025 will be entered into our Close to Home contest, for a chance to win one of two $8,000 prizes. Whether opening a new Equitable FHSA or making an annual contribution, this is a fantastic opportunity to help clients get closer to owning a home.
Advisors, your efforts matter too! You have a chance to win a $1,000 prize if the client you are assisting, in alignment with their unique homeownership needs, is selected as a winner. At Equitable, we believe that when we grow together, success is mutual.
Don’t forget about Equitable’s user-friendly online application, EZcomplete®, or online transaction platform, Equitable’s EZtransact®. These tools are fast, simple, and could bring clients closer to achieving their goals.
Want to learn more? Speak to your Director, Investment Sales.
*Source: 2024 CMHC Mortgage Consumer Survey
Equitable’s Close to Home Contest: No purchase necessary. Contest period May 1, 2025 to September 30, 2025. Clients enter by making a deposit to an Equitable FHSA during the contest period or by submitting a no-purchase entry. Two prizes of $8,000 CAD each to be drawn on October 15, 2025 will be awarded. The servicing advisor for the policy to which the selected entrant made the deposit is also an eligible winner and will receive a $1,000 CAD prize. For example, if an Equitable client is a winner of the $8,000 prize, the client’s servicing advisor wins a $1,000 prize. Open to legal residents of Canada of the age of majority. Odds of winning depend on number of eligible entries received during the Contest Period. For full contest rules, including no-purchase method of entry, see the full contest rules.
Date posted: August 14, 2025
- Savings outside of a RRSP (59%)
- Gifts (38%)
- Savings within a RRSP (31%)
While 71% of potential first-time homebuyers in Canada are aware of the First Home Savings Account (FHSA), only 33% of them are taking advantage*.
Equitable wants to help first-time homebuyers take advantage of all the benefits a FHSA has to offer. Clients who contribute to an Equitable FHSA between May 1 and September 30, 2025 will be entered into our Close to Home contest, for a chance to win one of two $8,000 prizes. Whether opening a new Equitable FHSA or making an annual contribution, this is a fantastic opportunity to help clients get closer to owning a home.
Advisors, your efforts matter too! You have a chance to win a $1,000 prize if the client you are assisting, in alignment with their unique homeownership needs, is selected as a winner. At Equitable, we believe that when we grow together, success is mutual.
Don’t forget about Equitable’s user-friendly online application, EZcomplete®, or online transaction platform, Equitable’s EZtransact®. These tools are fast, simple, and could bring clients closer to achieving their goals.
Want to learn more? Speak to your Director, Investment Sales.
*Source: 2024 CMHC Mortgage Consumer Survey
Equitable’s Close to Home Contest: No purchase necessary. Contest period May 1, 2025 to September 30, 2025. Clients enter by making a deposit to an Equitable FHSA during the contest period or by submitting a no-purchase entry. Two prizes of $8,000 CAD each to be drawn on October 15, 2025 will be awarded. The servicing advisor for the policy to which the selected entrant made the deposit is also an eligible winner and will receive a $1,000 CAD prize. For example, if an Equitable client is a winner of the $8,000 prize, the client’s servicing advisor wins a $1,000 prize. Open to legal residents of Canada of the age of majority. Odds of winning depend on number of eligible entries received during the Contest Period. For full contest rules, including no-purchase method of entry, see the full contest rules.
Date posted: August 14, 2025