Calculator · Down Payment
How much down payment do you need?
Canada's tiered minimum: 5% on the first $500,000, 10% on the portion to $1.5M, and 20% above. Under 20% means CMHC/Sagen/Canada Guaranty default-insurance premium, financed into the mortgage.
Live math · no calculate button| Canadian semi-annual compounding · OSFI B-20| Ontario + Toronto LTT-aware| Same engine our advisors use
Your inputs
$620k
Minimum down payment
$37,000
6.0% of $620,000
Down payment scenarios
5% down$31,000 · +$23,560 premium
10% down$62,000 · +$17,298 premium
20% down$124,000 · no premium
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Methodology · Canadian-correct
Tiered minimums are federal rules for owner-occupied homes. Rental and second-home minimums differ. Gifted down payments and FHSA/HBP funds are accepted with documentation.
Mortgage glossary— terms that matter for this calculator
What is the minimum down payment in Canada?
5% on the first $500,000 of price, 10% on the portion from $500,000 to $1,500,000, and 20% above $1,500,000. Example: a $700,000 home needs 5% × $500k + 10% × $200k = $45,000.
Do I need 20% down to buy a home?
No. You can buy with as little as 5% down (on homes up to $500k, less above). Under 20% just means you pay a mortgage default-insurance premium — but it also unlocks the lowest insured rates.
Where can my down payment come from?
Your own savings, an FHSA/RRSP Home Buyers' Plan, or a gift from an immediate family member (with a gift letter). Lenders verify 90 days of history on the funds. See our down payment playbook.
Is the CMHC premium part of my down payment?
No — the premium is added to your mortgage (financed), not paid as down payment. But provincial PST on the premium (ON/QC/SK/MB) is due in cash at closing. Use our CMHC calculator.
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