Minimum Down PaymentOntario. Exact Requirements.5% from $500K. 10% to $1.5M. FHSA + HBP.
Exact 2026 down payment requirements for every price range in Ontario. FHSA ($40K lifetime), RRSP Home Buyers' Plan ($35K/person), gift funds, and 30-year amortization for eligible first-time buyers. Free guidance — FSRA #13763.
Reviews4.9/5
Real First-Time Buyers, Real Keys.
4.9/5
client rated
1,500+
first-time buyers
5%
min down payment
“Used FHSA + HBP — $74K combined, closed on $680K Toronto condo.”
FHSA + HBP — Toronto
Your Protection. No Surprises.
Transparent costs
Down payment, CMHC, closing costs itemized
No hard credit check
Soft pull only until you commit
No-pressure review
Full strategy before you commit
Your First-Home Edge.
Ontario first-time buyer expertise — down payment strategy, FHSA, HBP, and CMHC optimization.
FHSA + HBP Strategy
$74K combined for eligible buyers
CMHC Insured
5% down from $500K purchase
5%
min down
$40K
FHSA limit
4.9/5
rated
Process
Into Your First Home in 3 Steps.
1. Plan
Down payment strategy mapped
2. Match
Right lender for your profile
3. Close
Keys in hand, stress-free
FAQs
Down Payment Questions?
Quick answers on Ontario minimum down payment, FHSA, RRSP HBP, and CMHC rules for 2026.
5% on the first $500K + 10% on the portion above $500K. For a $700K home: $25K + $20K = $45K minimum. Over CMHC limits, 20% required.
Your First-Home Edge.
Ontario first-time buyer expertise — down payment strategy, FHSA, HBP, and CMHC optimization.
FHSA + HBP Strategy
$74K combined for eligible buyers
CMHC Insured
5% down from $500K purchase
5%
min down
$40K
FHSA limit
4.9/5
rated
Process
Into Your First Home in 3 Steps.
1. Plan
Down payment strategy mapped
2. Match
Right lender for your profile
3. Close
Keys in hand, stress-free
Real First-Time Buyers, Real Keys.
4.9/5
client rated
1,500+
first-time buyers
5%
min down payment
“Used FHSA + HBP — $74K combined, closed on $680K Toronto condo.”
FHSA + HBP — Toronto
Your Protection. No Surprises.
Transparent costs
Down payment, CMHC, closing costs itemized
No hard credit check
Soft pull only until you commit
No-pressure review
Full strategy before you commit
FAQs
Down Payment Questions?
Quick answers on Ontario minimum down payment, FHSA, RRSP HBP, and CMHC rules for 2026.
5% on the first $500K + 10% on the portion above $500K. For a $700K home: $25K + $20K = $45K minimum. Over CMHC limits, 20% required.
Check My Down Payment
Most Ontario First-Time Buyers Wait Longer Than They Need To
Miscalculating your minimum down payment or missing FHSA/HBP programs means waiting years longer than necessary. Here's what happens without expert guidance:
Without lendsimpl
Waiting and missing programs
With lendsimpl
Buy sooner, save more
Client StoriesWhat Ontario First-Time Buyers Say About Our Guidance
Damien Atapattu made my mortgage process completely stress‑free. He prepared all documents ahead of time and clearly understands lender, lawyer, and appraisal requirements. A friendly, energetic pr…
Aruna Bandaranayake
May 2026
Highly recommend! Damien took a lot of time to explain the terms thoroughly. He is very knowledgeable and trustworthy. Looking forward to working with him again!
Tommy Ravindran
Apr 2026
Shamal was amazing throughout the whole process. He is very helpful, knowledgeable and patient. If you need a good reliable mortgage broker he is the guy! He will find you the best solution.
Avy Loc
Mar 2026
Highly recommend. Damien was excellent throughout everything. Walking us through everything step by step. He was extremely well prepared and well versed in everything we needed to get a mortgage at…
John Abraham
Mar 2026
I had a great experience working with Damien. He helped me secure a very competitive mortgage rate through Scotiabank and made the entire process smooth and stress-free. He was knowledgeable, trans…
Rz
Mar 2026
I approached Lendsimpl for some financing and was amazed at the quality and time frame of service. Within a matter of days my deal was completed. Thanks to Damien and the team for expediting my bus…
Sunrise Meadows
Dec 2025
The Smarter Way to Buy Your First Home in Ontario
Exact Down Payment Calculation
We calculate your precise minimum down payment for any Ontario purchase price — 5% up to $500K, blended 5%+10% for $500K–$1.5M — no guesswork.
FHSA Strategy ($40K Lifetime)
The First Home Savings Account allows $8,000/year tax-deductible contributions. We walk first-time buyers through how to combine FHSA with pre-approval for maximum benefit.
RRSP Home Buyers' Plan
Withdraw up to $35,000 per person ($70K for couples) from your RRSP tax-free for a first home. We ensure your withdrawal is properly timed for the transaction.
30-Year Amortization Eligibility
First-time buyers purchasing new builds can now access 30-year amortization (vs 25-year standard), reducing monthly payments and improving affordability.
CMHC Insurance Explained
We break down exactly what CMHC mortgage insurance costs vs the alternative (20% down + 3 more years of renting). For many buyers, getting in earlier wins.
Gift Funds Documentation
Family gift funds are accepted by most A-lenders. We guide you through the exact documentation required to have gifts accepted by your specific lender.
50+ Lenders Compared
We find the lender most favorable to your down payment source — whether FHSA, HBP, gifts, or savings — across 50+ Ontario lenders.
FSRA Licensed Brokerage #13763
Fully regulated Ontario mortgage brokerage providing first-time buyer guidance. We're legally required to act in your best interest.
Pre-Approval Preparation
We structure your pre-approval to maximize your approved purchase price with your minimum available down payment — so you know your real buying power.
Your First Home Purchase in 6 Steps
STEP 01
Down Payment Audit
Tell us your savings, FHSA balance, RRSP balance, and any gift funds. We calculate your exact available down payment and minimum required for your target price.
STEP 02
FHSA + HBP Strategy
We model how to maximize FHSA + HBP together, including timing of withdrawals, contribution deadlines, and how each affects your pre-approval.
STEP 03
Minimum Down Calculation
We calculate the exact minimum for your target purchase price, CMHC premium, and monthly payment at current rates.
STEP 04
Pre-Approval Application
We submit your pre-approval to the best-fit lender for your down payment source — ensuring gift fund rules, FHSA documentation, and HBP withdrawals are correctly handled.
STEP 05
Offer & Rate Hold
Once pre-approved, we lock your rate for up to 120 days. You can make offers confidently knowing your financing is secured.
STEP 06
Closing & First Renewal
We coordinate with your lawyer for smooth closing. 90 days before your first renewal, we reach out to ensure you stay competitive.
We Remove Every Reason to Hesitate
FSRA Licensed #13763
Fully regulated Ontario mortgage brokerage. Our advice is governed by fiduciary standards — we are legally required to act in your best interest.
100% Transparent Comparison
Every rate, spread, penalty, and lender restriction is disclosed before you commit. You see the full picture — not just the headline number.
No Obligation to Proceed
Our analysis is free. If you don't like the options we find, you walk away with zero fees, zero penalties, zero pressure.
Your Data Stays Private
We never share your personal information with lenders without your consent. No hard credit pulls without your explicit approval.
Six Guarantees That Protect You
Best Rate Guarantee
We shop 50+ lenders to find you the lowest rate. If you find a better rate for the same terms elsewhere, we'll match it or beat it.
Rate Hold Guarantee
We lock your rate for up to 120 days. If rates fall before you close, we re-apply at the lower rate automatically.
No Hidden Fee Guarantee
Every cost is disclosed in writing before you sign. Our brokerage fee is paid by the lender — not by you.
Renewal Outreach Guarantee
90 days before your renewal date, we reach out proactively so you're never auto-renewed into a bad rate.
Full Comparison Guarantee
We compare all relevant options for every client — you always see the full analysis before deciding.
Plain English Guarantee
We explain every term, rate, spread, and penalty in plain language. You make a confident decision, not an anxious guess.
Ontario First-Time Buyer Mortgage Rates
5-Year Fixed (Insured)
5% Down OAC
- CMHC insured from 5% down
- 30-yr amortization eligible (new builds)
- Best fixed rate for first-time buyers
3-Year Fixed (Insured)
Shorter Commitment
- Lower penalty if circumstances change
- Re-qualify at market rate in 3 years
- FHSA/HBP accepted
5-Year Variable (Insured)
Prime Tracker OAC
- Variable rate flexibility
- Historically lower total interest
- Convert to fixed anytime
Minimum Down Payment Ontario — FAQs
5% of the purchase price for homes up to $500,000. For homes between $500,000 and $1,499,999, it's 5% on the first $500K plus 10% on the remainder. For $1.5M+, minimum 20% is required. We calculate your exact requirement — free.
The First Home Savings Account (FHSA) allows first-time buyers to contribute up to $8,000/year (lifetime max $40,000), get a tax deduction, and withdraw tax-free for a qualifying home purchase. It's essentially a TFSA + RRSP hybrid for first homes.
Yes. You can use both FHSA (up to $40K lifetime) and RRSP HBP ($35K per person) for the same home purchase. A couple could combine up to $150K in government-supported down payment savings.
CMHC insurance protects the lender when you put down less than 20%. The premium is 2.80%–4.00% of the mortgage amount, added to your mortgage. On a $600K purchase with 5% down ($30K), the CMHC premium is approximately $22,000.
As of August 2024, first-time buyers purchasing new builds can access 30-year amortization on insured mortgages, reducing monthly payments vs the standard 25-year maximum. We confirm your eligibility at pre-approval.
Yes. Most A-lenders accept gifted down payment funds from immediate family (parents, siblings, grandparents). A signed gift letter is required confirming the funds are a gift with no repayment obligation. We guide you through this process.
For CMHC-insured mortgages (under 20% down), most lenders require a minimum 620 credit score. For the best insured rates, 680+ is recommended. We'll tell you exactly where you stand and how to optimize before applying.
This depends on your local market and opportunity cost. In many Ontario markets, the equity built during the time it takes to save 20% while renting exceeds the CMHC premium cost. We model both scenarios for your specific numbers — free.
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Serving Ontario
First-Time Buyer Mortgage Guidance Across Ontario
lendsimpl provides first-time home buyer mortgage guidance across Ontario — minimum down payment calculations, FHSA strategy, RRSP HBP timing, and CMHC pre-approvals.
lendsimpl is a provincially licensed Ontario mortgage brokerage (FSRA #13763). We serve all Ontario cities and municipalities.
Legal
Important Disclosures
Rates & Approvals
All mortgage approvals are subject to lender conditions and underwriting review. Rates shown are for illustrative purposes only, subject to change without notice, and may vary depending on credit profile, income type, property type, and LTV. Not all applicants will qualify for the lowest advertised rates.
FSRA Licensed Brokerage
lendsimpl is a licensed mortgage brokerage (FSRA #13763), operating under the Mortgage Architects network. All lending is subject to applicable provincial regulations and industry guidelines.
Rates and information current as of June 2026. Always confirm rates and program eligibility directly with your licensed mortgage broker.