Type a price and a down payment. This down payment calculator checks the legal minimum, works out the mortgage insurance premium if you are under 20%, and estimates the monthly payment. Rules checked October 3, 2026.
Minimum down payment in Canada
- $500,000 or less: 5% of the price.
- $500,000 to $1,500,000: 5% of the first $500,000, plus 10% of the rest.
- $1,500,000 or more: 20% of the price.
Mortgage loan insurance
- Needed when your down payment is less than 20%.
- CMHC’s premium is a share of the mortgage: 2.80% when you borrow 80.01% to 85% of the price, 3.10% for 85.01% to 90%, and 4.00% for 90.01% to 95%.
- You can add the premium to the mortgage. Ontario’s sales tax on the premium must be paid when you get the mortgage.
- The insurance protects the lender, not you.
More detail: minimum down payment rules explained.
More tools: all calculators. Guides: first-time buyer guide.
Sources (official pages, checked October 3, 2026)
- Financial Consumer Agency of Canada – Down payment (minimums, mortgage loan insurance)
- CMHC – Mortgage loan insurance cost (premium table)
- CMHC – Requirements for homeowner mortgage loan insurance (39% and 44% ratios, $1,500,000 limit)
- Ontario – Retail sales tax (8% on insurance premiums)
Programs and limits change, often at budget time. Confirm the current rules on the official page before you rely on them.
Talk to me in English or Arabic: call or text (647) 465-3710, message me on WhatsApp, or email Mohieddinrealtor@gmail.com.
General information only – not financial, legal or mortgage advice. Please consult a licensed professional about your own situation.