Women and Homeownership

woman at home being enjoying homeownership

Homeownership for women hasn’t always been an easy path.

It wasn’t until the Married Women’s Property Act nearly 140 years ago in Ontario that women were allowed to legally purchase property on their own.

Since then, women have gained many rights in Canada—but even in this day and age, homeownership can still present some unique challenges for women.


Inflation inhibits the ability to save for a down payment, but for women there can be another key factor.

Women are often paid less than men for jobs where they hold the same title.

To bring awareness to this issue, International Equal Pay Day was formed to highlight the wage discrepancies.

While not every industry is faced with a pay gap, many still have a ways to go.

The difference in income impacts a woman’s capacity to save for a down payment, and makes homeownership more difficult to attain.

Single Parenthood

Co-parenting your kids after a divorce is quite common these days.  

But, in times where that is not the case, the percentage of single-mother households is higher than single-father households.

“In 2016, 81.3% of children aged 0 to 14 in lone‑parent families were living with their mother, and 18.7% were living with their father.” (Source: Stats Canada)

While the number of single-father households is on the rise, women are still the primary caregivers in these situations.

As a single parent, homeownership is even more financially daunting.

There are subsidies available for parents, but they do not cover the entire cost of childcare or basic needs.

The ability to pay all your credit cards on time—and in-full—proves to be much more challenging under the circumstance of having to provide for a family.

Missing payments on credit cards or holding a high balance can also decrease a credit score, and in turn decreases the ability to apply for a home.

Lower Qualifying Ratio

In Canada, homebuyers are subject to mortgage debt service ratio calculations (GDSR and TDSR).

Both of these calculations use gross annual income as part of the equation to determine whether someone can qualify for a mortgage.

With monthly utility bills and household costs on the rise, a lower income due to the wage gap for women creates an even further barrier to homeownership.

Although women face unique obstacles on the path to becoming homeowners, there are alternatives to help make this dream become a reality sooner.

Our EP Homes program gives everyday people with 0% down the opportunity to pursue the path to homeownership.

The program allows you to save for a down payment while benefitting from our complimentary financial coaching provided by industry experts.

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