Know your numbers
Down Payment Calculator
Calculate your down payment requirements and savings goals
What you'll work outAbout 1-2 minutes
- Required down payment amount
- Down payment percentage
- CMHC insurance costs
- Monthly mortgage payments
- Total mortgage amount
- Payment frequency options
Down Payment Calculator
Calculate how much you need for a down payment and explore different scenarios to reach your home buying goals.
Estimates for information only, not financial, tax or legal advice, and not a mortgage approval or rate offer. Your lender, lawyer or accountant will confirm the real numbers. Government rules used here were checked against official sources on September 24, 2026; see our editorial standards.
$100k - $2.5M
5% - 100%
Down payment | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 |
|---|---|---|---|---|
Down payment | ||||
CMHC | $22,800 | $16,740 | $14,280 | $0 |
| Total mortgage | $592,800 | $556,740 | $524,280 | $480,000 |
- Scenario 1: the minimum down payment on $600,000 is $35,000 (5.8%). A lender cannot approve less.
Amortization | ||||
Mortgage rate | 5-yr/fix | 5-yr/fix | 5-yr/fix | 5-yr/fix |
| Payment frequency | ||||
| Mortgage payment | $3,051 | $2,866 | $2,698 | $2,522 |
| Get pre-qualified | Get pre-qualified | Get pre-qualified | Get pre-qualified |
Email me these results
Get your inputs and results in your inbox, with a link that reopens this calculator with the same numbers. Estimates only, not financial advice.
How it works
How much down payment do I need in Ontario?
Explore more Ontario real estate calculators or read our buying and selling guides.
Quick answer
Canada's minimum down payment is tiered by price: 5% on the first portion of the price, with a higher percentage on the portion above a set threshold, and 20% required at or above a federal price ceiling. Below 20% down you'll also pay mortgage default insurance. A down payment calculator applies these tiers to show your minimum and your savings timeline.
How to use the down payment calculator
- Enter the home price you're targeting.
- The calculator applies the tiered minimum down payment rules.
- Add what you can save each month to see a timeline.
- Review your minimum down payment and whether insurance applies.
Down Payment Calculator: worked example
- Home price
- $700,000
- 5% on first $500,000
- $25,000
- 10% on the next $200,000
- $20,000
- Minimum down payment
- $45,000 (≈ 6.4%)
Illustrative — the price thresholds and rules were updated recently, so confirm the current tiers before relying on this.
Estimates for information only, not financial, tax or legal advice, and not a mortgage approval or rate offer. Your lender, lawyer or accountant will confirm the real numbers. Government rules used here were checked against official sources on September 24, 2026; see our editorial standards.
Down Payment Calculator FAQ
What is the minimum down payment in Canada?
It's tiered: 5% on the first portion of the price, a higher percentage on the portion above a threshold, and 20% at or above a federal ceiling. Verify the current thresholds, which have changed.
Do I pay mortgage insurance with less than 20% down?
Yes. Down payments under 20% require mortgage default insurance (CMHC or a private insurer), with a premium usually added to your mortgage; in Ontario the PST on the premium is due at closing.
Can first-time buyers use registered accounts for a down payment?
Yes — the FHSA and the RRSP Home Buyers' Plan can both help fund a first-home down payment. See our first-time buyer FAQs for how they work together.
