“Requiring a down payment up-front from homebuyers has long been considered a cornerstone of risk mitigation for lenders. However, for some segments of our society, down payments are also why the well-worn phrase ‘it takes money to make money’ holds true for homeownership,” writes Richard Ferguson, president of CBC Mortgage Agency. For a hard-working family, it can take years to save for a down payment. And any setback — such as the coronavirus crisis — can return them to square one.