PURCHASING REAL ESTATE
From initial contact and explaining home ownership expenses, to guiding
you through the mortgage application process and connecting you with all
the real estate professionals you need to complete your home buying
journey - there is no question too big or too small.
DO YOU HAVE YOUR DOWN PAYMENT SAVED?
Are you curious about what the minimum down payment thresholds on a home in 2025 are?
Currently, the down payment on your home purchase is a sliding scale and depends on the purchase price of the property. The down payment rules in Canada are as follows;
· If the purchase price of a property is less than $500,000, the minimum down payment is 5%.
· If the purchase price is between $500,000 and $1,499,999, the minimum down payment is 5% of the first $500,000, and 10% of any amount over $500,000.
· If the purchase price is $1,500,000 or more, the minimum down payment is 20% of the agreed upon price.