Down payment · Ontario
Minimum down payment in Ontario — the complete 2026 breakdown.
Canada's tiered down payment rules with real GTA dollar examples, CMHC premium tables, and every program you can stack. Updated for 2026.
The minimum down payment rule
Set federally; applies identically across Ontario:
- Under $500,000: 5% of purchase price
- $500,000 – $1,499,999: 5% on the first $500K + 10% on the portion above
- $1,500,000 or more: 20% flat (no insured mortgages available)
The federal insured-mortgage cap was raised from $1M to $1.5M in December 2024 — meaningful in a GTA where the average sale price now sits over $1.07M.
Real GTA dollar examples
- $450,000: $22,500 down (5%)
- $650,000: $40,000 (5% of first $500K + 10% of $150K)
- $850,000: $60,000 (5% of first $500K + 10% of $350K)
- $1,100,000: $85,000 (5% of first $500K + 10% of $600K)
- $1,499,999: ~$125,000 (last price with insured-mortgage option)
- $1,500,000: $300,000 (20% flat — uninsured)
CMHC mortgage default insurance premiums
Required for any down payment under 20%. Premium is a % of your mortgage amount, not purchase price:
- 5% – 9.99% down: 4.00%
- 10% – 14.99% down: 3.10%
- 15% – 19.99% down: 2.80%
The premium can be rolled into your mortgage, which is what most buyers do. On a $700K mortgage at 4%, that's $28,000 added to your loan.
Programs you can stack
- FHSA (First Home Savings Account): $8K/year, $40K lifetime. Tax-deductible going in, tax-free coming out for a first home.
- RRSP Home Buyers' Plan: Up to $60,000 per person ($120K per couple) withdrawn tax-free, repaid over 15 years.
- Gifted down payment: Allowed from immediate family with a signed gift letter.
- First-Time Home Buyer Tax Credit: $1,500 federal tax credit on the year of purchase.
Companion guides
How to buy a house in Ontario →
First-time buyer GTA guide →
Closing costs Ontario →
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647.673.0810Down payment FAQs
Common questions.
What's the absolute minimum down payment in Ontario?
5% of the purchase price for homes under $500,000. For homes $500K–$1.499M: 5% on the first $500K plus 10% on the portion above. At $1.5M+: 20% flat, and you can no longer get an insured mortgage.
Is the minimum down payment different in Toronto vs. Mississauga?
No — federal rules apply identically across all of Ontario and Canada. Local rules differ on land transfer tax (Toronto adds municipal LTT), not down payment.
Do I need 20% to avoid CMHC insurance?
Yes. Any down payment under 20% requires mortgage default insurance (CMHC, Sagen, or Canada Guaranty). The premium ranges from 4.00% (5–9.99% down) to 2.80% (15–19.99% down) of your mortgage amount.
Can I use FHSA + RRSP HBP + a gift together?
Yes — they stack. FHSA ($40K lifetime), RRSP Home Buyers' Plan ($60K), and gifted funds from immediate family can all combine into one down payment. Lenders just need a gift letter for the gifted portion.
What happens at exactly $1.5M?
The market's most important cliff: $1,499,999 needs ~$125,000 down with an insured mortgage available. $1,500,000 needs $300,000 down with no insured option. Plan your offer strategy around this line.