Thank god Canada created the CMHC which would insure loans and allow you a down payment as low as 5% for first time buyers.

ironically because the loans where insured they offered lower interest rates on these loans, which meant they costed almost the same as 20% uninsured loans (you paid the insurance premium on-top of your mortgage payment).

even if you have a 20% down it made more sense to put 5% down and put the rest into the index funds or a HISA.