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Buying a Home with Less Than 20% Down in Ontario: What You Need to Know
June 30, 2025 | Posted by: Cecile Morell
Think you need 20% down to buy a home in Ontario? Think again. With as little as 5% down, you can step into homeownership—and The Mortgage Boss can show you how.
If you’re buying a home under $500,000, the minimum down payment is just 5%. Between $500K and $999K? You’ll need 5% of the first $500K, and 10% of the remainder. Over $1M, it’s 20% minimum—so aiming below that threshold keeps your options flexible.
Of course, if you put down less than 20%, you’ll need mortgage default insurance (like CMHC), but don’t let that scare you. It’s what lets thousands of Ontarians into the market every year.
Working with The Mortgage Boss means you get the full picture—not just the numbers, but the strategy. We help you plan for the total costs, including closing costs, insurance, and your monthly payment—so there are no surprises.
Ontario’s real estate market is diverse. Whether you’re looking in Toronto, Barrie, Ottawa, or somewhere rural, we’ll help you understand how much you really need—and how to stretch your dollars smartly.
Homeownership is within reach. You don’t need a massive down payment—just the right advice.
