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Let’s Talk about How much Downpayment I Need?


Contrary to popular belief, you may not need a 20% down payment to buy a home! Depending on your income and the price of the home you want, you may be able to own a home without having 20% down! However, if you have less than 20% down payment, you will need to buy mortgage insurance, either from the Lender or from The Canadian Housing Mortgage Corporation (CHMC). 

It's always wise to save for a down payment and minimize your debts, so always seek professional advice to see what is the most suitable for you! 

This is the guidelines of the minimum amount you need:

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CHMC Down Payment Guidelines 

Additional Information on Mortgage Loan Insurance 

Mortgage Calculator 

Contact Me

3195 Oak Street
Vancouver, BC, V6H 2L2

+1 604 787 0191


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