How much down payment is needed for a home in Canada?

Applies to: Canada.

For home financing in Canada, qualifying applicants may have an option with as little as 5% down. Self-employed applicants may qualify for a route with as little as 10% down. These figures describe possible qualifying routes, not a minimum available to everyone.

Your income documentation and the applicable program matter. Being self-employed does not by itself establish which down-payment option applies, and a route using different documentation may have different requirements.

How do I find out what applies to me?

Tell the Canadian processing team whether you are employed or self-employed, what kind of home purchase you are planning, and what down payment you have available. Ask which program and income-documentation requirements support the proposed option.

You can review the Canadian residential programs and start an application to have your circumstances assessed. Confirm the actual requirement for your proposed transaction before relying on a percentage when planning your purchase.