The minimum down payment in Canada is 5% down, whether you are a first time home buyer or a repeat buyer. The 5% down applies to homes priced $500,000.00 or lower. Homes above that price require a minimum down payment 5% down up to $500,000.00 and then 10% down on the amount above $500,000.00
Example:
Purchase price : $650,000.00
$500,000.00 x 5% = $25,000.00
$150,000.00 x 10% = $15,000.00
Total down payment required: $25,000.00 + $15,000.00 = $40,000.00