Down Payment Calculator
Find the minimum down payment for a home in Canada, the mortgage insurance you pay with less than 20% down, and the mortgage you end up with.
Federal rules since December 15, 2024: 5% on the first $500,000, 10% from $500,000 to $1.5 million, and 20% on homes of $1.5 million or more. With less than 20% down, the mortgage must be insured by CMHC, Sagen or Canada Guaranty.
Minimum down payment
$50,000
6.67% of the price: 5% of the first $500,000 and 10% of the rest
The insurance premium is added to the mortgage. With 20% down ($150,000) there is no premium.
Minimum Down Payment by Home Price
The minimum is 5% of the first $500,000 and 10% of the part between $500,000 and $1.5 million. A home of $1,500,000 or more cannot be insured, so it needs 20% of the whole price: the minimum jumps from about $125,000 just below $1.5 million to $300,000 at $1.5 million.
Home Price | Minimum Down | Share of Price | Mortgage Insurance (25 Years) |
|---|---|---|---|
| $300,000 | $15,000 | 5.0% | $11,400 (4.00%) |
| $400,000 | $20,000 | 5.0% | $15,200 (4.00%) |
| $500,000 | $25,000 | 5.0% | $19,000 (4.00%) |
| $600,000 | $35,000 | 5.8% | $22,600 (4.00%) |
| $750,000 | $50,000 | 6.7% | $28,000 (4.00%) |
| $900,000 | $65,000 | 7.2% | $33,400 (4.00%) |
| $1,000,000 | $75,000 | 7.5% | $37,000 (4.00%) |
| $1,250,000 | $100,000 | 8.0% | $46,000 (4.00%) |
| $1,499,000 | $124,900 | 8.3% | $54,964 (4.00%) |
| $1,500,000 | $300,000 | 20.0% | None |
| $2,000,000 | $400,000 | 20.0% | None |
The premium is a share of the mortgage: 4.00% with less than 10% down, 3.10% with 10% to 15% and 2.80% with 15% to 20%, plus 0.20 points on a 30-year amortization. It is added to the mortgage, not paid at closing; Ontario and Quebec charge provincial sales tax on it, which is paid in cash at closing.
The Minimum Down Payment in Our Markets
The minimum down payment on the typical home in each market we report on, at this month's prices. Each market links to its full cost-to-buy page, with closing costs, the monthly payment and the income needed.
| Winnipeg | $429,708 | $21,485 | $16,329 | September 2026 |
| Nova Scotia | $463,312 | $23,166 | $17,606 | September 2026 |
| Edmonton | $466,080 | $23,304 | $17,711 | September 2026 |
| Quebec City | $510,946 | $26,095 | $19,394 | September 2026 |
| Gatineau | $530,151 | $28,015 | $20,085 | Q2 2026 |
| London | $611,509 | $36,151 | $23,014 | September 2026 |
| Calgary | $646,198 | $39,620 | $24,263 | September 2026 |
| Montreal | $683,074 | $43,307 | $25,591 | September 2026 |
| Ottawa | $685,640 | $43,564 | $25,683 | September 2026 |
| Waterloo Region | $702,817 | $45,282 | $26,301 | September 2026 |
| Hamilton | $714,420 | $46,442 | $26,719 | September 2026 |
| GTA | $1,006,409 | $75,641 | $37,231 | September 2026 |
| Burlington | $1,064,663 | $81,466 | $39,328 | September 2026 |
| Greater Vancouver | $1,225,426 | $97,543 | $45,115 | September 2026 |
Where the Down Payment Can Come From
The down payment usually comes from your own savings, a gift from close family, or an RRSP or FHSA withdrawal. A first-time buyer can take up to $60,000 out of an RRSP under the Home Buyers' Plan and save up to $40,000 tax-free in a First Home Savings Account. Lenders usually ask to see the money in your account for about 90 days before closing, or a signed gift letter. More on the rules in our guide to down payment requirements, and on the programs in first-time home buyer programs by province.
Today's Mortgage Rates from Lenders
This calculator works with whatever rate you enter. Compare it with the rates lenders are offering right now, fixed and variable, by term. Change the price, down payment or location to match your purchase.
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