The minimum down payment required depends on your status in Canada and the property price. Here’s what you need to know:

1. Canadian Citizens & Permanent Residents:

 ● 5% down: For properties $500,000 or less. 

● 10% down: On the amount above $500,000.

○ Example: For a $700,000 home: 

• First $500,000 → $25,000 (5%). 
• Remaining $200,000 → $20,000 (10%). 
• Total: $45,000. 

● 20% down: For properties over $1 million. 

● Mortgage Insurance: Required if down payment is less than 20%.

● Credit: Good credit score and stable income needed.  

2. Foreign Workers (With a Work Permit): 

● 5% down: If they have a Canadian credit history. 

● 10% down: If they don’t have Canadian credit. 

● Proof Needed: Valid work permit, proof of income, and employment letter. 

● Mortgage Insurance: Available for down payments under 20%

3. Foreign Buyers (Non-Residents Without a Work Permit): 

● 35% down: Minimum required. 

● Restrictions: Non-residents cannot buy residential property until 2025 unless exempt. 

● Proof Needed: Proof of income or assets, even if no Canadian credit history.  

4. International Students: 

● 35% down: Minimum unless they have a Canadian guarantor. 

● Proof Needed: Valid study permit and proof of funds. 

● Restrictions: Same as foreign buyers until 2025.

Quick Summary: 

● Citizens & PR: 5% to 20% based on the property price. 

● Foreign Workers: 5% to 10% if working in Canada. 

● International Students & Non-Residents: 35% or more.