What is the minimum down payment for a house in Canada?
Quick summary
CMHC says the minimum down payment is 5% of the purchase price up to $500,000, and 10% of the portion above $500,000. These rules are for insured mortgages, where the price must be below $1,500,000. Your lender may ask for more. Work out your own numbers with our mortgage affordability calculator.
Checked November 10, 2026. Main source: CMHC: General requirements to qualify for homeowner mortgage loan insurance (page shows published June 5, 2020 and no modified date, read November 10, 2026). See all 2 sources.
Key facts
- First $500,000
- 5% minimum
- Source: CMHC page, no modified date
- Portion above $500,000
- 10% minimum
- Source: CMHC page, no modified date
- Insured price cap
- Below $1,500,000, raised from $1,000,000 on December 15, 2024
- Source: CMHC and Finance Canada
Minimum down payment examples
We applied the CMHC rule to four prices. These are our calculations, not lender quotes.
| Purchase price | 5% of first $500,000 | 10% of the rest | Minimum down payment |
|---|---|---|---|
| $400,000 | $20,000 | $0 | $20,000 |
| $500,000 | $25,000 | $0 | $25,000 |
| $600,000 | $25,000 | $10,000 | $35,000 |
| $1,000,000 | $25,000 | $50,000 | $75,000 |
| $1,400,000 | $25,000 | $90,000 | $115,000 |
Rule: Source: CMHC: General requirements to qualify for homeowner mortgage loan insurance (page shows published June 5, 2020 and no modified date, read November 10, 2026). The $1,400,000 row matches Finance Canada's example, which says the minimum down payment on a $1.4 million home is up to $165,000 lower since the cap rose from $1 million.
The price cap
CMHC says the purchase price or lending value must be below $1,500,000 for its insured homeowner loans. Finance Canada says the cap rose from $1 million to $1.5 million on December 15, 2024.
The sources we read do not state the down payment for a home above the cap. Ask your lender.
Source: Department of Finance Canada: The boldest mortgage reforms in decades come into force today (December 15, 2024, read November 10, 2026).
The minimum is not the whole picture
- Closing costs are separate from the down payment. See land transfer tax in the calculator below.
- Lenders also test whether you qualify at a higher rate. See the stress test guide.
- Where the down payment comes from matters. The CMHC page mentions a strong credit management history for certain non-traditional sources.
Where to go next
Questions people ask
What is the minimum down payment in Canada?
CMHC says 5% of the purchase price up to $500,000 and 10% of the portion above $500,000, for insured mortgages.
How much is the minimum down payment on $600,000?
By the CMHC rule, $35,000: $25,000 for the first $500,000 and $10,000 for the remaining $100,000. Your lender may ask for more.
What is the highest price for an insured mortgage?
CMHC says the price must be below $1,500,000. Finance Canada says the cap rose from $1,000,000 on December 15, 2024.
Does the down payment include closing costs?
No. Closing costs are separate. Ask your lender and lawyer for an estimate.
Does your province have its own rules?
Taxes and fees on a home purchase, and some programs for first-time buyers, differ by province. Pick yours to see where to look. We remember your choice on this device only.