Down Payment Calculator
Compare down payment scenarios and understand default-insurance costs. See how different down payment amounts affect your total mortgage and whether mortgage default insurance is required.
Configured down-payment and default-insurance rules are required before this estimate can be calculated.
Disclaimer: The estimates and calculations shown above are for illustrative purposes only and should not be relied upon as financial advice. Actual mortgage rates, terms, and eligibility depend on your personal financial situation, credit history, and current market conditions. Please consult a licensed mortgage broker, financial advisor, or your bank to determine your actual affordability and costs before making any purchasing decisions.
Understanding Down Payments in Canada
Your down payment size affects more than just your mortgage amount. It affects whether default insurance applies, your interest-rate options, and your maximum amortization period.
Canadian Down Payment Rules
In Canada, minimum down-payment requirements depend on purchase price and configured finance policy:
- Tiered minimum down-payment rules come from finance-policy config
- Insured-mortgage eligibility limits come from the selected jurisdiction's effective calculator rules
- The calculator applies the active configured policy
Mortgage Default-Insurance Premiums
Default-insurance eligibility, thresholds, and premium rates come from the effective policy and may depend on loan-to-value ratio:
- Premium tiers come from the selected jurisdiction's effective calculator rules
- Premiums are applied based on loan-to-value ratio
- The calculator applies the active configured policy
- No premium is applied when policy says insurance is not required
Policy Sources and Effective Dates
Mortgage programs and limits can change. The calculator exposes the policy it used instead of embedding promotional limits:
- Review the rule source and effective date shown with the result
- Confirm first-time-buyer eligibility with the relevant program administrator
- Treat the calculation as an estimate until a lender confirms eligibility
Need help planning your down payment?
Our team can connect you with trusted mortgage professionals who will help you understand your options and build a savings plan that works for your timeline.
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