So you have decided to buy a home! (In Canada)
You will typically have a down payment of at least 5% of the purchase price of the dwelling, depending on the dwelling type.
Closing costs include but are not limited to one-time items such as lawyer fees, HST as applicable, land transfer tax if applicable, adjustments, etc., to allow you to complete the house purchase. You also need to think about closing costs (for example, legal and land transfer fees) equivalent to 1% to 3% of the purchase price. Many first-time buyers are surprised by these costs.
Also, if you are considering alternative lending options and need to know the credibility of the lender, consult this CMHC approved list of lenders.
I hope this article has been of interest to you, please feel free to contact me if you have any questions or concerns!