How much down payment do you need?
Enter a home price to see your minimum down payment, CMHC insurance, and how much cash you'll need to buy.
Canada-accurate math. Tiered minimums and CMHC premiums, exactly as lenders apply them.
Compare your options. See your mortgage and insurance side by side at 5, 10, 15, and 20%.
Need less cash. Get up to $25,000 back from our commission, toward your savings.
No hidden fees. No repayment, no credit check, no strings attached.
What's the home price?
The purchase price of the home you have in mind.
How much can you put down?
Defaults to the legal minimum. Adjust to see your own plan.
Compare down payment options
How your mortgage and CMHC insurance change at each level.
| Option | Down | CMHC | Mortgage |
|---|---|---|---|
| Minimum6.4% | $45,000 | $26,200 | $681,200 |
| 10% down10.0% | $70,000 | $19,530 | $649,530 |
| 15% down15.0% | $105,000 | $16,660 | $611,660 |
| 20% down20.0% | $140,000 | $0 | $560,000 |
Minimum down payment
$45,000
6.4% of $700,000
Save less with Zown
Paid at closing toward your overall savings, so it helps cover closing costs and move-in expenses. It does not change the minimum a lender requires.
An estimate to get you started, not a mortgage approval.
Canada
How much down payment you need, explained
The tiered minimum, when CMHC insurance applies, and how Zown helps you need less cash to buy.
The tiered minimum, in plain terms
Canada uses a tiered rule: 5% on the first $500,000, then 10% on the portion above $500,000, and 20% once a home hits $1,500,000. So a $500,000 home needs $25,000, and a $700,000 home needs $45,000, not $35,000.
Worked examples
$400,000 home → $20,000 (5%). $600,000 home → $35,000 ($25,000 + $10,000). $1,000,000 home → $75,000 ($25,000 + $50,000). $1,500,000 home → $300,000 (a flat 20%).
When CMHC insurance kicks in
Put down less than 20% on a home priced at $1.5M or under and you need mortgage default insurance. The premium runs 2.8%–4.0% of the mortgage and is added to your balance. Reaching 20% removes it entirely.
Where the money can come from
Your down payment can come from savings, a First Home Savings Account (FHSA), an RRSP through the Home Buyers' Plan, or a gift from an immediate family member. Lenders usually want to see the funds for 90 days.
Don't forget closing costs
Budget another 1.5%–4% of the price for land transfer tax, legal fees, title insurance, and inspection. Your total cash to close is the down payment plus these costs, so plan for both.
The Zown difference
Buy with Zown and get 1.25% of the price back from our commission (up to $25,000), paid at closing toward your overall savings. It helps cover closing costs and move-in expenses, so you need less cash saved up to buy.
Figures are current as of mid-2026 and change as rules and rates move. Sources include the Financial Consumer Agency of Canada, CMHC, and the Department of Finance Canada. This is general information, not financial or mortgage advice.
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Down payment questions, answered
Common questions about minimum down payments, CMHC insurance, and buying with Zown.
Still have questions?
Our team can help you understand your options and walk you through the numbers.