CANADA · HOME BUYING DEPOSIT
Canada Minimum Mortgage Down Payment Calculator
Canadian minimum deposit rules change at major property-price thresholds. A $600,000 home does not require a flat 10% deposit on the whole price.
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Calculation results
A mortgage with less than 20% down generally requires mortgage loan insurance; other eligibility limits apply.
Estimate only. A bank, employer, tax office or lender may apply additional conditions. See the scope and source below.
When and how to use this calculator
For a C$600,000 home, the stated minimum is 5% of the first C$500,000 (C$25,000) plus 10% of the next C$100,000 (C$10,000), for C$35,000.
- Enter the agreed Canadian purchase price rather than your current estimated loan balance.
- Below C$1.5 million, calculate minimum down payment in price bands; from C$1.5 million onward the formula is 20% of the entire home price.
- Budget additional land-transfer tax, legal fees, closing costs and possible mortgage default insurance. The resulting purchase balance is NOT a lender approval or insured mortgage amount.
Understand your result
FCAC general down-payment rules; excludes insurance premiums, provincial land-transfer taxes, closing costs, lender-specific requirements, valuation differences and loan approval.
Questions people ask
Is the down payment 10% on the full C$600,000?
No. On that purchase price the example is C$25,000 on the first C$500,000 plus C$10,000 on the next C$100,000.
What changes at exactly C$1.5 million?
The FCAC table states that homes costing C$1.5 million or more generally require a minimum 20% down payment.
Does a minimum down payment mean I qualify for the mortgage?
No. Credit, income, qualifying ratios, the stress test, property insurance and product eligibility are separate.
Will a deposit under 20% need insurance?
Typically yes for eligible insured mortgages. This calculator does not compute premiums or decide eligibility.
Reference and calculation scope
Source material is provided for independent checking. Our calculator is not a government or bank service.