Down payment in Canada - ijaraCDC

Down payment in Canada

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 minimum of 10% if self-employed and buying a property for your primary residence. According to the government rule, for transactions less than 20% down payment insurance premium is required.

Customers looking to purchase Residential property for Investment purposes will be required to put a minimum of 25% down payment.