Save For Your Down Payment - Faster

Buying your first home just got easier. With Paymyrent, every dollar you save daily is matched by us — doubling your progress towards a down payment.

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Automated Savings

Start building your mortgage down payment funds with our daily savings. Set up automatic savings with your card or connect directly to your salary account. Its easy, convenient and completely free.

Faster Path to Homeownership

Every dollar you save is matched by us, dollar for dollar. Example: Save $10/day, we add $10/day — doubling your progress.

Discipline & Structure

Daily savings create a habit that makes your down payment goal achievable. Unlike irregular lump sums, this builds steady momentum. Saving small amounts daily makes reaching a big goal simple and achievable.

Flexible Options

At the end of your savings tenure, you can Withdraw your own savings for personal use OR Withdraw both your savings + our matched portion and direct it into a FHSA, RRSP or directly to a mortgage broker’s trust account.

No Risk of Misuse

Our matched savings are structured as a loan released only when you are buying a home. This ensures the funds are used for their intended purpose: your down payment.

Maximize Government Programs

Earn Interest

Make your money work harder. Every time you deposit, you instantly earn interest on that day’s savings. Daily deposits mean daily growth — helping you reach your down payment goal even faster.

OPEN A FREE SAVINGS ACCOUNT

How Our Down Payment Savings Works

Save Daily - Set aside a fixed amount each day (e.g., $10). Small, steady steps build big results.

We Match You - For every dollar you save, we add the same amount — doubling your savings power instantly.

Use Your Funds - Withdraw just your savings for personal use, OR Withdraw your savings plus our matched funds and direct them into your FHSA, RRSP Home Buyers’ Plan, or straight to your mortgage broker’s trust account.

How Your Savings Work with Government Programs

FHSA (First Home Savings Account) - [1] Your Paymyrent savings and our matched funds into your FHSA. [2] Use both your savings + our matched funds to supercharge your FHSA. [3] Withdraw tax-free from your FHSA when buying your first home.

RRSP Home Buyers’ Plan (HBP) - [1] Your Paymyrent savings and our matched funds into your RRSP. [2] Withdraw up to $60,000 tax-free to put towards your down payment. [3] Repay over time with no penalties.

Mortgage Broker Trust Account - Ready to buy now? Direct your savings + our matched funds straight into your broker’s trust account for a seamless down payment.