Finance Friday: buying your first home

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Dave Schurman from FirstOntario Credit Union is back for another Finance Friday.

Today’s viewer question is from Jordan: “Dave, I wanted to ask your advice regarding the purchase of my first home. I’m debating whether to purchase a home now with a 5 per cent down payment or save over the next two years and purchase with a traditional 20 per cent down payment?”

“I think this is a question that young, recent college/university graduates such as myself may be thinking about.”