Calculate Your Minimum Down Payment in Ontario
By Hami Tahm · Last reviewed July 2026
Planning your cash to close also means knowing what you take home each month — check the Ontario salary after tax calculator for Ontario take-home pay after the surtax and Health Premium.
Ontario land transfer tax rates may change
Land transfer tax rates and first-time buyer rebates vary by province and municipality, and rules update periodically. This page reflects Ontario LTT rates as of July 2026 for Ontario properties outside Toronto. Confirm current rates with the Ontario Ministry of Finance before closing.
What is the minimum down payment in Ontario?
On a $750,000 Ontario home, the minimum down payment is $50,000 under 2026 CMHC rules - 5% on the first $500,000 and 10% on the remaining $250,000. Ontario land transfer tax adds $11,475, bringing your total before closing costs to $61,475. First-time buyers can claim up to $4,000 in LTT rebates.
Calculate Your Down Payment
Down Payment Inputs
Enter household totals — both partners combined, not just one of you. Add each source separately and we’ll total it for you.
Chequing, savings, TFSA, GICs, or anything else you can access without a tax hit.
Enter your full FHSA balance. The $40,000 lifetime limit is on contributions — a qualifying home withdrawal, including any growth, is tax-free and not capped at $40,000.
The Home Buyers’ Plan caps withdrawals at $60,000 per person — a couple buying together can each withdraw that amount, so up to $120,000 between you.
A gift counts as a normal down payment source only if it comes from an immediate relative and is genuinely non-repayable. A gift from anyone else is treated as borrowed — tick the box below if that applies.
Total Mortgage Required
$604,305
$65,000 down · 10.0% · CMHC: $19,305
Estimated cash to close
$76,294
$65,000 down payment + $9,750 closing-cost proof (insured lenders generally want to see about 1.5% of the price) + $1,544 PST on the CMHC premium. That 1.5% is a lender guideline, not a hard rule — actual closing costs typically run 1.5%–4% of the price (see the closing cost calculator).
CMHC Premium
$19,305
Total Cost of Home
$669,305
Est. Monthly Payment
$3,222/mo
Amortization
30 yrs
30-yr eligible ✓
Your savings vs. this plan
$75,000
- Covers the legal minimum ($40,000)Yes ✓
- Covers your target ($65,000)Yes ✓
- Covers cash needed to close ($76,294)Short by $1,294
Closing needs more than the down payment alone — lenders also want proof of closing costs, plus PST on the CMHC premium where it applies.
What $75,000 could buy
| Down Payment % | Max Home Price | CMHC Premium | Monthly Payment |
|---|---|---|---|
| 8% | $1,000,000 | $38,850 | $5,138/mo 30-yr amort |
| 5%(min) | $500,000 | $19,950 | $2,639/mo 30-yr amort |
| 10% | $750,000 | $22,275 | $3,717/mo 30-yr amort |
| 15% | $500,000 | $12,750 | $2,334/mo 30-yr amort |
| 20%(no CMHC) | $375,000 | — | $1,743/mo 25-yr amort |
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Cash you need at closing
- Minimum down payment
- $40,000
- Ontario land transfer tax
- $9,475
- Less first-time buyer rebate
- −$4,000
- Total before other closing costs
- $45,475
Legal fees, title insurance and inspection are extra. For the full bracket-by-bracket breakdown — including the Toronto municipal tax — see the full land transfer tax breakdown.
Key Takeaways
- The minimum down payment in Ontario is 5% on the first $500,000 and 10% on the amount over $500,000 for homes priced under $1,500,000.
- Ontario land transfer tax adds $11,475 on a $750,000 home; first-time buyers can claim up to $4,000 back.
- Toronto buyers also owe Municipal Land Transfer Tax on top of provincial LTT.
- First-time buyers can combine RRSP Home Buyers Plan and FHSA to fund their down payment.
- Total upfront cost on a $750,000 Ontario home is roughly $73,475 including down payment, LTT, and closing costs.
How the Ontario Down Payment Calculator Works
The Ontario down payment calculator takes your home price, applies the federal CMHC down payment brackets, then adds your Ontario land transfer tax - giving you both the minimum down payment and the total upfront cost in one calculation. For first-time buyers, it also applies the provincial LTT rebate of up to $4,000 automatically. For down payment rules that apply to all provinces, see the down payment calculator for all of Canada.
Ontario-Specific Inputs: What the Calculator Includes
The calculator uses your purchase price, buyer type, and down payment assumptions to estimate required cash and insurance impact for an Ontario purchase.
How Your Down Payment Is Calculated Under 2026 CMHC Rules
CMHC rules are federal: 5% on the first $500,000, 10% on the amount over $500,000 for homes priced under $1,500,000, and 20% at $1,500,000 or above where CMHC insurance is not available.
How to Use This Calculator: Step by Step
- Enter your Ontario home price. Use your expected purchase price so the tiered calculation reflects your likely offer.
- Select your buyer type. First-time buyers may qualify for RRSP Home Buyers Plan, FHSA, and the Ontario LTT rebate.
- Review your tiered CMHC down payment. See the 5% and 10% components and the resulting insured mortgage amount.
- See your Ontario land transfer tax and any first-time buyer rebate. The calculator applies Ontario LTT brackets and subtracts the first-time rebate where eligible.
- Add closing costs to get your full upfront amount. Combine down payment, LTT, legal fees, and other closing items.
2026 CMHC Down Payment Rules for Ontario Home Buyers
The December 2024 CMHC changes expanded mortgage loan insurance to homes priced under $1,500,000. Ontario buyers should recalculate if they used older assumptions.
CMHC rules changed on December 15, 2024
CMHC insurance now applies to homes priced under $1,500,000 (expanded from the prior limit). If you previously calculated using the old cap, your required down payment and mortgage options may have changed.
The Three Price Brackets with Ontario Home Prices
| Ontario Home Price | Min Down Payment | Calculation | CMHC Insured? |
|---|---|---|---|
| $400,000 | $20,000 | 5% x $400K | Yes |
| $600,000 | $35,000 | 5% x $500K + 10% x $100K | Yes |
| $750,000 | $50,000 | 5% x $500K + 10% x $250K | Yes |
| $1,000,000 | $75,000 | 5% x $500K + 10% x $500K | Yes |
| $1,499,000 | $124,900 | 5% x $500K + 10% x $999K | Yes (< $1.5M) |
| $2,000,000 | $400,000 | 20% x $2,000,000 | No |
Source: CMHC
CMHC Insurance Premiums for Ontario Properties
| Down Payment % | Loan-to-Value | CMHC Premium Rate | Example: $750K home |
|---|---|---|---|
| 5.00%-9.99% | 90.01%-95.00% | 4.00% | $700,000 x 4.00% = $28,000 |
| 10.00%-14.99% | 85.01%-90.00% | 3.10% | $675,000 x 3.10% = $20,925 |
| 15.00%-19.99% | 80.01%-85.00% | 2.80% | $637,500 x 2.80% = $17,850 |
| 20.00% or more | 80.00% or less | None | Conventional mortgage |
Source: CMHC
Ontario Land Transfer Tax - Your Other Major Upfront Cost
Ontario LTT is separate from your down payment and payable at closing. Use the Ontario land transfer tax calculator for a full breakdown.
Ontario LTT Brackets and What You Will Owe
| Price Bracket | Marginal Tax Rate | Marginal Tax on $750K | Running LTT Total |
|---|---|---|---|
| $0-$55,000 | 0.5% | $275 | $275 |
| $55,001-$250,000 | 1.0% | $1,950 | $2,225 |
| $250,001-$400,000 | 1.5% | $2,250 | $4,475 |
| $400,001-$2,000,000 | 2.0% | $7,000 | $11,475 |
| Over $2,000,000 | 2.5% | N/A | N/A |
Source: Ontario Ministry of Finance
First-time buyer LTT rebate - up to $4,000 back
Ontario first-time buyers can claim a provincial LTT rebate of up to $4,000. On a $750,000 purchase, net provincial LTT drops from $11,475 to $7,475.
Buying in Toronto? The Toronto MLTT Also Applies
Toronto buyers pay both provincial and municipal land transfer tax. Use the Toronto land transfer tax calculator to estimate combined tax.
Toronto buyers: you owe two land transfer taxes
If the property is in Toronto, you owe Ontario LTT plus Toronto MLTT. This page estimates provincial LTT only.
First-Time Home Buyer Down Payment Options in Ontario
RRSP Home Buyers Plan in Ontario
Eligible first-time buyers can withdraw up to $60,000 from RRSP under the Home Buyers Plan (raised from $35,000 by Budget 2024, effective April 16, 2024). Couples can combine withdrawals for up to $120,000.
FHSA for Ontario Buyers
FHSA allows contributions up to $8,000 per year and $40,000 lifetime, with tax-deductible contributions and tax-free qualifying withdrawals.
30-year amortization - conditions apply
30-year insured amortization applies to first-time buyers and certain new-build purchases. It lowers monthly payments but increases total interest paid.
Sample Calculation: A $750,000 Home in Ontario
Combined upfront cost - $750,000 Ontario home
Minimum down payment plus Ontario LTT is $61,475 before closing costs. With estimated closing costs, upfront cash can be around $73,475 for standard buyers.
| Cost Item | Standard Buyer | First-Time Buyer | Notes |
|---|---|---|---|
| Min Down Payment | $50,000 | $50,000 | 5% on $500K + 10% on $250K |
| Ontario LTT | $11,475 | $7,475 | First-time buyer rebate applied |
| Closing Costs (est.) | $12,000 | $12,000 | Legal, inspection, title insurance |
| Total Upfront Cash | $73,475 | $69,475 | Before CMHC premium |
| CMHC Premium (added) | $28,000 | $28,000 | Added to mortgage balance |
Source: CMHC; Ontario Ministry of Finance
▶ See your full Ontario mortgage picture
- Calculate your mortgage paymentModel monthly costs before you make an offer.
- Estimate closing costsAdd legal, title, and adjustment costs to your plan.
Frequently Asked Questions
The minimum down payment for a home in Ontario follows federal CMHC rules: 5% on the first $500,000, plus 10% on the amount over $500,000 for homes priced under $1,500,000. At $1,500,000 or above, you need 20% and CMHC insurance is not available. For a $750,000 Ontario home, the minimum is $50,000.
The minimum down payment on a $750,000 Ontario home is $50,000: 5% on the first $500,000 ($25,000) plus 10% on the remaining $250,000 ($25,000). With the minimum down, CMHC insurance is added to your mortgage balance.
On a $750,000 Ontario home, provincial land transfer tax is $11,475. Ontario LTT is paid at closing separately from the down payment. First-time buyers can claim a rebate of up to $4,000.
Yes. First-time buyers can use the RRSP Home Buyers Plan, the FHSA, and the Ontario provincial LTT first-time buyer rebate of up to $4,000.
For a $750,000 Ontario home with the minimum $50,000 down, add Ontario LTT and closing costs. Typical total upfront cash is roughly $73,475 for a standard buyer or about $69,475 for a first-time buyer after the rebate.
Yes. FHSA funds can be used toward a qualifying Ontario home purchase. Contributions are tax-deductible and qualifying withdrawals are tax-free.
Yes. Down payment minimums are federal and apply across all provinces. What changes by province is land transfer tax and local closing costs.
Sources
- Canada Mortgage and Housing Corporation (CMHC). CMHC mortgage loan insurance rules
- Ontario Ministry of Finance. ontario.ca/document/land-transfer-tax
- Government of Canada. FCAC minimum down payment rules in Canada
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