Minimum down payment in Canada (2026)

The tiers

Up to $500,000, the minimum is 5%. Between $500,000 and $1.5 million, it's 5% of the first $500,000 plus 10% of the rest, so $35,000 on a $600,000 home. At $1.5 million or more, default insurance isn't available and the minimum is 20%.

The largest minimum down payment on an insured mortgage is just under $125,000, on a home just under $1.5 million.

Less than 20% means insurance

Any purchase with less than 20% down needs mortgage default insurance from CMHC, Sagen or Canada Guaranty. The premium is added to the mortgage. See the insurance guide for the rates.

Where the money can come from

Lenders want to see 90 days of history for the down payment: savings, investments, the sale of a home, a gift from immediate family with a signed gift letter, or withdrawals from an FHSA or the RRSP Home Buyers' Plan.

A borrowed down payment is possible under specific insurer programs, at a higher premium.

Rentals and second homes

A home you won't live in usually needs 20% down. Owner-occupied homes with two to four units can be bought with less, with rules on counting the rental income.