I don't have enough and won't have enough for this summer for 25% (still keeping in mind student housing). So I'll aim for next year. It just so happens that it's possible to have 40% of a down payment by then. I see what you're saying though. The 25% was initially my goal after last years attempted purchase of a condo in Burlington. $127k, one bedroom + den, brand spanking new, structural problems = no insurance on loans where the down payment is less than 25%.

So, that + CMHC fees are reason enough to not go past the 25% mark. but since I have about 80% of what I need (need as compared to the goal I set for june '09), there is zero reason why I shouldn't be able to buy a place next year.

I think changing payments to b-weekly is a great idea. It not only cuts a few years off of the loan period, but it might also be easier to handle in terms of money management.