Normally down payments can not be borrowed. However there are a few ways around this legally and ethically. So let’s first state that the down payment must be in your possession for 90 days and you must be able to provide bank statements to support that.

1. You can borrow it from an existing line of credit. This should not be from the same source that is providing your mortgage, and you must be able to debt service for the payment.
2. It can be gifted from a blood relative. A gift letter is required and you will then need to provide a statement showing that you are in possession of the funds.
3. You can borrow it from your RRSP’s under the Home Buyer’s Plan. For a single applicant this amount is up to 35K and for a couple it is