To buy a home in Canada, the minimum down payment varies depending on the cost of the home.

Homes that are:

• $500,000 or less require a 5% down payment
• Between $500,000 to $999,999 require a 5% payment on the first $500,000 and 10% on the portion that’s over $500,000
• Over $1 million require at least a 20% down payment: the down payment depends on a number of factors, including the price of the property, where the home is located, the property type, and your credit score

Learn more about saving for a down payment here.