The ‘Bank of Mom & Dad’ is becoming an instrumental support for first-time homebuyers, as highlighted by the Ontario Real Estate Association’s study in 2022. With average individual contributions reaching over $41,000, parents are playing a critical role in the homeownership journey for many. The generosity of these familial lenders signifies growing challenges for young buyers in today’s market. Such contributions have been crucial in enabling new buyers to overcome the financial barriers to owning a home.