Down Payment & Refinance Rule Changes

Current Requirements

Down payment requirements in Canada vary based on purchase price. For homes under $500,000, the minimum is 5%. For the portion between $500,000 and $1 million, you need 10%. Homes over $1 million require at least 20% down.

Refinancing rules limit you to accessing 80% of your home's value. Recent policy changes may affect these limits, so staying informed is crucial for planning your financial strategy.