Minimum down payment calculator (Canada)
See the minimum down payment for a purchase price in Canada, and how different down payments change the insurance premium and mortgage.
Mortgage rules last reviewed: September 29, 2026
- Default insurance (CMHC)
- Available below 20% down
- Down payment to avoid insurance (20%)
- $170,000
- Mortgage at the minimum down payment (before insurance)
- $790,000
For illustration only. Not a rate quote, approval or pre-qualification.
| Down payment | Amount | Insurance premium | Mortgage |
|---|---|---|---|
| Minimum (7.06%) | $60,000 | $31,600 (4.00%) | $821,600 |
| 10% | $85,000 | $23,715 (3.10%) | $788,715 |
| 15% | $127,500 | $20,230 (2.80%) | $742,730 |
| 20% | $170,000 | None | $680,000 |
How this is calculated
- The minimum is 5% of the first $500,000 plus 10% of the portion between $500,000 and $1.5 million. At $1.5 million and above, 20% is required.
- The insurance premium is added to the mortgage. Ontario also charges 8% sales tax on the premium, paid in cash at closing.
- Premiums shown assume a 25-year amortization. Closing costs are extra — see the closing costs calculator.
Calculator disclaimer
Calculators are provided for general informational and illustrative purposes only.
Results are estimates and may not reflect lender-specific qualification requirements, mortgage-insurance premiums, taxes, fees, available products, payment calculations or other transaction costs.
Calculator results do not constitute:
- Mortgage approval
- Pre-approval
- A rate commitment
- A lending commitment
- Financial advice
- Tax advice
- Or legal advice
Mortgage rules, rates and lender requirements can change.
For advice about your specific circumstances, speak with the appropriate licensed professional.
But how does this apply to your business income?
This calculator estimates the numbers you entered. How a lender treats your salary, dividends or business income is a separate question, and it's the one the Mortgage Readiness Review looks at first.