04/10/2025
Looking to buy your dream home in Canada? We've got your back! Here's the lowdown on the minimum down payment you'll need for a Primary Residence.
Typically, for homes under $500,000, the minimum down payment required is just 5% of the purchase price. This cannot be a rental house. This flexible option makes homeownership more accessible for many aspiring Canadians. We want to help you take that exciting step into the world of homeownership without breaking the bank!
But what about those beautiful homes priced above $500,000? We believe everyone deserves a chance to own their dream home, no matter the price! So, for homes above $500,000, the minimum down payment increases to 10% of the purchase price. It's a bit more, but with proper planning and support, you can make it happen!
Your dream home awaits, and we're here to guide you through every step of the way! Whether it's calculating your down payment or exploring various mortgage options, we're committed to helping you find the perfect solution that suits your unique needs.
Remember, buying a home is a big decision, but with the right information and the right team by your side, it can be a wonderfully rewarding experience! Let's make your homeownership dreams come true together!
We're in your corner,
Sherri and Krista
