How much do I need down?
The legal minimum for your price point, and how each down payment tier changes your insurance premium.
Minimum down payment in Canada: 5% of the first $500,000 plus 10% of the portion between $500,000 and $1.5 million. Homes of $1.5 million or more cannot be default-insured and require at least 20% down.
For illustration only. Not an offer to lend or financial, legal or tax advice. Actual figures depend on lender, insurer and legal review. O.A.C.
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