You were told that your minimum down payment was 5%. You have that.
However, did you know that you are also required to show that you have an additional 1.5% of the purchase price saved to cover closing costs such as:
1) Legal fees
2) Land Transfer Tax
3) Appraisal
4) Inspection
5) Title Insurance
6) PST (Provincial Sales Tax) on Default Insurance Premium
7) Final Adjustments
