First-Time Home Buyers
Everything You Need to Know About the Down Payment
By Yahia Nour Eddine KenouchePublished on March 3, 2026 6 min read
Your down payment drives both your purchasing power and the total cost of your mortgage.
Minimum requirements
5% on the first $500,000, 10% on the portion between $500,000 and $1M, and 20% above that or for an investment property.
Mortgage default insurance
Below 20%, a CMHC, Sagen or Canada Guaranty premium is added to the loan. It lets you buy sooner but increases the financed balance.
Accepted sources
Personal savings, FHSA, HBP, a non-repayable family gift, or proceeds from a sale. Lenders require a 90-day paper trail.
