5% down. A couple of banks were offering cash back mortgages however it is my understanding that was gone about a month ago.
You will also want 1% of the purchase price for closing costs (the bank will want to see it) however this can be flexible.
closed rate gives the peace of mind knowing your payment for the duration you lock it into.
variable will be a lower rate but you take a chance of a rate hike which could come in higher than what your fixed rate would have been.
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