How much down payment do I need in Canada?
Updated: February 28, 2026CanadaFAQPrivate lending
Quick Summary
Minimum down payment depends on purchase price, property type, and whether the home will be owner-occupied. Requirements can change, so confirm current rules with your lender.
Down Payment rules in Canada are not one-size-fits-all.
What usually affects the minimum
- Purchase price: higher prices often require higher minimum down payment.
- Owner-occupied vs rental: rentals often require more down.
- Insured vs uninsured: smaller down payments often require default insurance.
Practical planning tips
- Budget for Closing Costs separately (legal fees, taxes, adjustments, Appraisal).
- Keep a paper trail for your down payment source (savings history, gift letter, sale proceeds).
- If you’re near a threshold, ask your broker how changing price or down payment affects approval and total cost.
If you’re using private or alternative lending for a purchase, confirm the net-advance and cash-to-close early because fees can materially change the cash you need.