How much down payment do I need to buy a home in Ontario in 2026?

In Canada, the minimum down payment is 5% for homes up to $500,000, 10% on the portion between $500,001 and $1,499,999, and 20% for homes $1.5 million or above. CMHC mortgage insurance is required for down payments under 20%.

Can I use rental income to qualify for a larger mortgage in Ontario?

Yes. Many lenders allow you to offset up to 50–80% of projected rental income against your mortgage payment when qualifying. This can significantly increase your borrowing power for investment properties.

Home Purchase Specialists · Ontario

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East York (Toronto), Ontario

Planning to purchase a home in East York (Toronto), Ontario? Use our purchase calculator to estimate your total home buying costs, including down payment, CMHC insurance, and monthly payments. Get a clear picture of what you can afford in East York (Toronto)'s real estate market.

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Key Facts · East York (Toronto)

Minimum down payment

Min down payment5% of price

CMHC max premium4.00%

FHSA annual limit$8,000/yr

Stress testOSFI B-20

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FAQ

Purchase Calculator in East York (Toronto) — Frequently Asked Questions

How much down payment do I need to buy a home in East York (Toronto)?

In East York (Toronto), Ontario, the minimum down payment is 5% for homes under $500,000, 10% on the portion between $500,000–$999,999, and 20% for homes $1 million+. CMHC insurance is required for down payments under 20%.

What is the average home price in East York (Toronto), Ontario?

Home prices in East York (Toronto) vary by neighbourhood and property type. Use our purchase calculator to estimate your total costs based on your target price in East York (Toronto), including down payment, CMHC insurance, and closing costs.

Can I buy a home in East York (Toronto) as a first-time buyer?

Yes! First-time home buyers in East York (Toronto) can access federal programs like the FHSA (First Home Savings Account), RRSP Home Buyers' Plan, and Ontario land transfer tax rebates. Our calculator factors in all first-time buyer benefits.

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Our specialists compare 50+ lenders to find the best solution for your situation — income, credit, property type. Free analysis, same day.

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East York (Toronto), Ontario

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