Down Payment Calculator (Canada)
The minimum down payment in Canada is 5% of the first $500,000 and 10% of the portion above that. Homes priced at $1,500,000 or more need 20% down.
Calculator
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Minimum down payment
$40,000
6.2% of the price
| Down payment | Mortgage | Insurance premium | PST on premium (cash) |
|---|---|---|---|
| $40,000 (6.2%) | $634,400 | $24,400 (4.00%) | $1,952 |
| $65,000 (10.0%) | $603,135 | $18,135 (3.10%) | $1,451 |
| $97,500 (15.0%) | $567,970 | $15,470 (2.80%) | $1,238 |
| $130,000 (20.0%) | $520,000 | Not required | — |
Estimate only, based on the published rules listed below. Lenders, insurers and tax authorities apply their own criteria.
Insurance below 20% down
With less than 20% down, the mortgage needs default insurance. The premium is a percentage of the loan that falls as your down payment rises, and it's usually added to the mortgage. In Ontario, Quebec and Saskatchewan, provincial sales tax on the premium must be paid in cash at closing.
Where the down payment can come from
- Savings, including a First Home Savings Account (FHSA)
- RRSP withdrawals under the Home Buyers' Plan
- A gift from a family member, if your lender accepts it
Sources
Rules are summarized in our own words from official publications. Check the source and talk to your lender or a licensed professional before making a decision.
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.