Buying · Down payment · 2026
Five percent, yes, but not on the whole price, not on every building, and not without a premium. Here is the 2026 rule, the amount by price, where the money can come from and what the lender checks.
In Canada in 2026, the minimum down payment is 5% on the first $500,000 of the price and 10% on the portion between $500,000 and $1,499,999; from $1.5 million, 20%, with no insurance available. Under 20%, the loan must be insured (CMHC, Sagen or Canada Guaranty), with a premium of 2.80% to 4.00% added to the loan. A rental building you do not occupy requires 20%; a plex you occupy can go to 5% or 10% depending on the number of units. On $450,000 the minimum is $22,500; on $600,000, $35,000; on $900,000, $65,000. The down payment can come from savings (90 days of statements), the FHSA ($8,000 a year, $40,000 lifetime, tax-free withdrawal), the HBP (up to $60,000 from an RRSP, repaid over 15 years starting the fifth year), a gift from a parent (signed gift letter, non-repayable) or, at some lenders, a loan, which then counts in your debt ratios. The seller cannot supply it. Plan another 1.5% to 4% of the price for the notary, the welcome tax, the inspection and the 9% tax on the premium.
| Price | Minimum down payment | Actual percentage | CMHC premium on the loan | Approximate payment (4.24%, 30 years) |
|---|---|---|---|---|
| $350,000 | $17,500 | 5.0% | $13,300 | $1,692 |
| $450,000 | $22,500 | 5.0% | $17,100 | $2,175 |
| $500,000 | $25,000 | 5.0% | $19,000 | $2,417 |
| $600,000 | $35,000 | 5.8% | $22,600 | $2,875 |
| $750,000 | $50,000 | 6.7% | $28,000 | $3,561 |
| $900,000 | $65,000 | 7.2% | $33,400 | $4,248 |
| $1,200,000 | $95,000 | 7.9% | $44,200 | $5,622 |
| $1,500,000 and up | 20% ($300,000 and up) | 20% | No premium | Depends on the loan |
30-year amortization allowed for first-time buyers and any new build since December 15, 2024, otherwise 25 years on an insured loan. Illustrative calculation with the mortgage calculator; the premium is detailed on CMHC insurance 2026.
| Source | 2026 limit | Conditions |
|---|---|---|
| Savings, non-registered investments, TFSA | No limit | 90 days of statements; any unusual deposit must be explained |
| FHSA | $8,000 a year, $40,000 lifetime (plus carried-forward room) | First-time buyer; deductible contribution, tax-free withdrawal, no repayment |
| HBP (RRSP) | $60,000 per person ($120,000 per couple) | First-time buyer; RRSP held 90 days; repaid over 15 years starting the 5th year for withdrawals from 2022 to 2025, otherwise the 2nd |
| Gift from immediate family | No limit | Signed gift letter, non-repayable; the lender may ask for proof of the transfer |
| Borrowed down payment (line of credit, personal loan) | Lender dependent | Accepted by some lenders and insurers; the payment counts in the 39%/44% ratios |
| Equity in an existing property | Up to 80% of value in a refinance | For a second purchase or a plex |
The source (90 days of statements, gift letter, notice of assessment for the HBP), availability at the time of the offer (a firm offer with a 5% deposit is signed with the money in hand), room for closing costs (insurers require 1.5% of the price on top of the down payment), and debt ratios computed at the stress-test rate (contract plus 2%, minimum 5.25%). A 20% down payment removes the premium and the $1.5 million cap, opens 30-year amortization on any purchase and gives access to lenders that do not insure; between 5% and 20%, the trade-off is the premium against time saved.
$35,000: 5% of the first $500,000 ($25,000) plus 10% of the next $100,000, with a 3.10% CMHC premium on the loan.
Yes, on the first $500,000 of an owner-occupied property priced under $1.5 million; 10% on the excess.
Yes, for a first-time buyer: up to $40,000 of FHSA and $60,000 of HBP per person, on the same purchase.
Not if you live in it: 5% or 10% for a duplex, 10% for an owner-occupied triplex or fourplex; 20% for a non-occupied building.
To run your own numbers: the commission calculator, our fees and the mortgage calculator. French versions are linked below.
The Loaa & Manseur team, led by Lotfi Manseur and Loaa Al Daow, is the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 of large residential teams according to the official RE/MAX ranking, computed on actual transactions. Its Google profile counts 221 reviews with a 4.9 rating. Its offices are at 55 avenue de l'Équinoxe in Brossard, one bridge from the island, and every broker's licence can be checked in the OACIQ public register. Three things to verify yourself before calling us, and to demand of any other broker.
Also available in French: version française de ce guide.
Published September 7, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.
Équipe no 1 de RE/MAX Platine en 2024 et en 2025, 6e au Québec, 15e au Canada et dans le top 50 mondial au classement officiel RE/MAX. Réponse en moins de 24 heures, sept jours sur sept.