Tanya Vanden Berg - Broker of Record -Sudbury Real Estate
2 months ago
Minimum Down Payment Rules in Ontario
In Canada, the rules for down payments are the same across provinces, including Sudbury:
5% of the purchase price for homes under $500,000
5% of the first $500,000 + 10% of the portion above $500,000 for homes priced between $500,000–$999,999
20% minimum for homes priced $1 million+ (no CMHC insurance available)
👉 Example: If you’re buying a $450,000 home in Sudbury, your minimum down payment is $22,500 (5%).
In Canada, the rules for down payments are the same across provinces, including Sudbury:
5% of the purchase price for homes under $500,000
5% of the first $500,000 + 10% of the portion above $500,000 for homes priced between $500,000–$999,999
20% minimum for homes priced $1 million+ (no CMHC insurance available)
👉 Example: If you’re buying a $450,000 home in Sudbury, your minimum down payment is $22,500 (5%).
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