The Home Buyers' Plan allows a withdrawal of up to $60,000 from an RRSP toward a down payment, repaid over 15 years, and the First Home Savings Account allows a deductible contribution of up to $8,000 a year to a lifetime limit of $40,000, tax free on withdrawal. Canada Mortgage and Housing Corporation insurance rules apply below 20 percent down.
These programs are not specific to University Heights, but combined with the neighbourhood's typical price point they determine how much home a first-time buyer can actually reach there without exceeding what a lender will approve.
Matching the right accounts to a specific University Heights price range is what makes the down payment work. Get your hand-reviewed valuation from Joel Dyck.