Down Payments - ijaraCDC

Down Payments

Down Payments in Canada

In General, if you are a first time buyer and reporting your income to CRA (Canada Revenue Agency), for the past 3 years you are allowed to make a minimum down payment of 5% if employed and a minimum of 10% if self-employed and buying a property for your primary residence. As the government rule, all transactions less than 20% down payment insurance premium is required.