Minimum down payment rules in Canada, tier by tier
Doorvia Guides · August 26, 2026
Five per cent applies to the first $500,000, ten per cent on the portion up to $1.5 million, and twenty per cent above that.
Down payment minimums in Canada are set in tiers. On a purchase price up to $500,000 the minimum is 5 per cent. Between $500,000 and $1.5 million, you need 5 per cent on the first $500,000 plus 10 per cent on the remainder. Above $1.5 million, the minimum is 20 per cent of the full price and the mortgage cannot be insured.
For example, on an $800,000 home the minimum is $25,000 plus $30,000, or $55,000 in total.
Anything under 20 per cent down requires mortgage default insurance, which adds a premium. Also note that insured mortgages allow a longer amortization in certain cases, including first-time buyers and newly built homes.
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