How Much Down Payment Do You Need to Buy a Home in Ontario in 2026?

One of the most common questions among home buyers in Ontario is how much down payment is required to purchase a property in 2026.

The amount depends on the purchase price of the property, mortgage rules, and your financial situation. Understanding these requirements early can help buyers prepare confidently for homeownership.

Minimum Down Payment Requirements in Ontario

Current Canadian mortgage rules generally require:

• 5% down payment for homes up to $500,000
• 10% on the portion between $500,000 and $1,500,000
• 20% minimum for properties over $1,500,000

Additional Costs Buyers Should Consider

Besides the down payment, buyers should also budget for:

• Land transfer tax
• Legal fees
• Home inspection costs
• Moving expenses
• Mortgage insurance (if applicable)

First-Time Buyer Opportunities

Many first-time buyers may qualify for programs and rebates designed to reduce upfront costs.

Programs may include:

• First-Time Home Buyer incentives
• RRSP Home Buyers’ Plan
• Land transfer tax rebates

Ontario Housing Market in 2026

Despite changing interest rates, many buyers continue entering the Ontario market due to long-term property value growth and increasing rental costs.

Planning your finances early and understanding your affordability can help position you strongly when the right property becomes available.

Final Thoughts

Every buyer’s financial situation is different. Speaking with a mortgage professional and experienced REALTOR® can help you understand your options and create a realistic plan for homeownership.