Down Payment Calculator
Canadian tiered minimum rules, CMHC premium tiers, and 5%/10%/20%/25% side-by-side comparison.
Your Down Payment
Inputs
Mortgage Amount
$600,000
Uninsured / conventional
Monthly Payment
$3,251
At 4.29% over 25 yrs
Down payment side-by-side
How much you save by putting more down
| Down % | Down $ | CMHC | Mortgage | Monthly Payment |
|---|---|---|---|---|
| 10%INSURED | $75,000 | $20,925 | $695,925 | $3,771 |
| 20% | $150,000 | — | $600,000 | $3,251 |
| 25% | $187,500 | — | $562,500 | $3,048 |
Summary
These numbers are a good estimate. A licensed IndiBrick advisor will tune them against your actual file and current lender rates.
First-time buyer? Book a free plan
Personally reviewed by
Nitish Gupta
Co-Founder · Mortgage Agent Level 1
I personally review every purchase + renewal files, business development and respond within 2 business hours.
Questions you probably have
What are the minimum down payment rules in Canada?+
• 5% on the first $500,000 of purchase price • 10% on the portion between $500,001 and $1,500,000 • 20% on any amount above $1,500,000 Example on a $700,000 home: 5% × $500k + 10% × $200k = $45,000 minimum down.
What is CMHC insurance and when is it required?+
CMHC (or Sagen / Canada Guaranty) mortgage default insurance is required whenever your down payment is under 20%. It protects the lender if you default. The premium is added to your mortgage balance (financed over the amortization); the 8% Ontario PST on the premium must be paid in cash at closing. Standard tiers: • 15%–19.99% down: 2.8% of loan • 10%–14.99% down: 3.1% • 5%–9.99% down: 4.0%
Should I put down 5% or 20%?+
Depends on your cash position and buy timing. 5% gets you into the market faster and preserves cash for renos/reserves; you pay CMHC premium (financed) + slightly higher interest over time on the larger mortgage. 20% saves CMHC premium and gives you access to uninsured products; you tie up more cash. On a $700k home, going from 5% to 20% saves roughly $12,000 in CMHC premium.
Where can my down payment come from?+
Lender-acceptable sources: personal savings (chequing, savings, TFSA, non-registered), RRSP HBP (up to $60k per person tax-free), FHSA (up to $40k lifetime tax-free), gift from an immediate family member (with a gift letter), sale proceeds of another property. Not acceptable: unsecured loans, credit cards.
Real numbers, real broker.
The math above is a good estimate — a licensed IndiBrick advisor will tune it against your file and current lender rates.
First-time buyer? Book a free planFSRA-licensed · Response within 2 business hours