Minimum down payment calculator
In Canada the minimum down payment is 5% of the first $500,000 of the price plus 10% of the portion above it, for homes under $1,500,000. At $1,500,000 or more you need 20%. A $700,000 home needs at least $45,000.
Minimum down payment calculator
Federal minimums for a home in Canada.
- To avoid insurance (20%)
- $150,000
- 10% down
- $75,000
- Insured mortgage possible?
- Yes
- price must be below $1,500,000
- Premium at the minimum
- $28,000
- 25-year amortization
Minimum down payment $50,000.
| Price | Minimum down | Share of price |
|---|---|---|
| $300,000 | $15,000 | 5.00% |
| $500,000 | $25,000 | 5.00% |
| $600,000 | $35,000 | 5.83% |
| $750,000 | $50,000 | 6.67% |
| $900,000 | $65,000 | 7.22% |
| $1,000,000 | $75,000 | 7.50% |
| $1,250,000 | $100,000 | 8.00% |
| $1,499,999 | $125,000 | 8.33% |
| $1,500,000 | $300,000 | 20.00% |
| $2,000,000 | $400,000 | 20.00% |
Assumptions & sources
Assumptions
- 5% of the first $500,000 and 10% of the portion above, for prices below $1,500,000; 20% at or above it.
- Applies to owner-occupied homes of 1–2 units; 3–4 units need 10%.
Sources
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .
- Department of Finance Canada — Mortgage reforms in force: $1.5M insured price cap, 30-year amortization (effective December 15, 2024). Checked .
How this calculator works
Enter a price to see the federal minimum, what 20% would be (to avoid insurance) and the insurance premium at the minimum. The table shows how the minimum steps up across prices, including the jump at $1,500,000.
More detail: down payment rules.
Frequently asked questions
What is the minimum down payment on a $600,000 house?
$35,000: 5% of the first $500,000 ($25,000) plus 10% of the remaining $100,000 ($10,000).
What is the minimum down payment on a $1.5 million house?
20%, or $300,000, because homes priced at $1.5 million or more can't have insured mortgages.
Can my down payment be a gift?
Gifts are a common source. Lenders usually ask for a signed letter confirming the gift does not have to be repaid; check your lender's requirements. A borrowed down payment is treated differently and costs a higher insurance premium.
Primary sources
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .
- Department of Finance Canada — Mortgage reforms in force: $1.5M insured price cap, 30-year amortization (effective December 15, 2024). Checked .