{"id":292,"date":"2022-12-08T06:00:00","date_gmt":"2022-12-08T06:00:00","guid":{"rendered":"https:\/\/mortgagestogo.ca\/blog\/?p=292"},"modified":"2022-12-13T02:08:51","modified_gmt":"2022-12-13T02:08:51","slug":"down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca","status":"publish","type":"post","link":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/","title":{"rendered":"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lbk0a8xp-5ba3bf28e4a548765634743f9b77a329\">\n#top .av-special-heading.av-lbk0a8xp-5ba3bf28e4a548765634743f9b77a329{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-lbk0a8xp-5ba3bf28e4a548765634743f9b77a329 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-lbk0a8xp-5ba3bf28e4a548765634743f9b77a329 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-lbk0a8xp-5ba3bf28e4a548765634743f9b77a329 av-special-heading-h1 blockquote modern-quote modern-centered  avia-builder-el-0  el_before_av_textblock  avia-builder-el-first '><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >Down Payment Rules for a Mortgage in Canada<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<section  class='av_textblock_section av-laj6n6ju-445a1af40eb1a68f5f46d2dba77e12d5'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-293 aligncenter\" src=\"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-300x300.png\" alt=\"mortgage downpayment\" width=\"300\" height=\"300\" srcset=\"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-300x300.png 300w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-1024x1024.png 1024w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-150x150.png 150w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-768x768.png 768w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-36x36.png 36w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-180x180.png 180w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5-705x705.png 705w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png 1080w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re looking to buy a home in Canada, you&#8217;ll need to save up for a down payment. The amount you&#8217;ll need to put down depends on the type of mortgage you get. Here are a few down payment rules to help you make the right decision for your home-buying journey.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is a mortgage?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A mortgage is a loan that is secured by real estate. That means that if you default on your mortgage payments, the lender can take possession of your home. Mortgages are typically repaid over a period of years, and the interest you pay each year is generally proportional to the balance of your loan. The most common mortgage in Canada has a 5-year term, although shorter and longer terms are available.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are the down payment rules for a mortgage in Canada?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The minimum down payment for a home purchase in Canada depends on the type of home being purchased. For owner-occupied homes, the minimum down payment is usually 5% of the purchase price. For investment properties, the minimum down payment is usually 20% of the purchase price.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How much money do you need for a down payment on a house in Canada?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The minimum down payment for a house in Canada is 5%. For homes worth more than $500,000, the minimum down payment is 5% of the first $500,000, and 10% of any amount over $500,000. So if you are buying a home for $700,000, you would need to make a down payment of $35,000. There are some programs that allow you to make a down payment of as little as 1%, but these usually have stricter requirements.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are the benefits of a larger down payment on a house?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are a few benefits of making a larger down payment on your home:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-You&#8217;ll owe less money overall: This is because you&#8217;ll be borrowing less money from the lender. This can save you money in interest charges over the life of your mortgage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-You&#8217;ll have equity in your home sooner: With a larger down payment, you&#8217;ll have more equity in your home from the start. This can give you peace of mind and a cushion if you face financial difficulties down the road.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-You may qualify for a lower interest rate: Many lenders offer lower interest rates to borrowers who make a larger down payment. This can save you even more money over the life of your mortgage.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Are there any drawbacks to making a larger down payment on a house?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are a few potential drawbacks to making a larger down payment on a house in Canada. First, you may end up paying more interest over the life of your mortgage if you have a shorter loan term. Second, you may have less money available for other financial goals, such as saving for retirement or investing. Finally, you may incur additional costs, such as mortgage insurance, if your down payment is less than 20% of the purchase price.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How does your credit score affect your down payment on a house in Canada?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The minimum down payment for a house in Canada is 5%. For homes costing more than $500,000, the minimum down payment is 5% of the first $500,000 plus 10% of any amount over $500,000. So, if you&#8217;re buying a home for $750,000, you would need a minimum down payment of $50,000. A higher credit score will often lead to a lower interest rate on your mortgage, which could save you thousands of dollars over the life of your loan.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are some common mistakes people make when saving for a down payment on a house?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The process of saving for a down payment on a house can be daunting, especially if you\u2019re not sure where to start. Unfortunately, there are a lot of myths and misconceptions surrounding down payments, which can lead people to make mistakes that end up delaying their home-buying journey.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are some of the most common mistakes people make when saving for a down payment:<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Not Starting Early Enough<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The sooner you start saving for a down payment, the better. The longer you have to save, the more time your money has to grow. If you wait until the last minute, you may end up having to put down more money than you originally planned or desired.<\/span><\/p>\n<ol start=\"2\">\n<li><span style=\"font-weight: 400;\"> Not Saving Enough Each Month<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">You should aim to save as much as you can each month in order to reach your goal as quickly as possible. Even if you can only afford to put away a small amount each month, it will add up over time. Automating your savings can help make it easier to reach your goal.<\/span><\/p>\n<ol start=\"3\">\n<li><span style=\"font-weight: 400;\"> Not Prioritizing Your Savings<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">When it comes to saving for a down payment, it\u2019s important to prioritize your savings. This means putting your down payment savings ahead of other financial goals, such as vacations or new cars. By prioritizing your savings, you\u2019ll be more likely to reach your goal in a timely manner.<\/span><\/p>\n<ol start=\"4\">\n<li><span style=\"font-weight: 400;\"> Not Investing Your Savings<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Investing your down payment savings is one of the best ways to grow your money over time. By investing in assets such as stocks, bonds, or real estate, you can earn a higher return on your investment than if you simply kept your money in a savings account. However, it\u2019s important to remember that investing comes with risk, so be sure to do your research before making any decisions.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">5 Mistakes To Avoid When Saving For A House Down Payment<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">What are some tips for saving for a down payment on a house?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Making a down payment on a house can be difficult, especially if you don\u2019t have a lot of money saved up. Here are a few tips to help you make a down payment on a house in Canada:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Start Saving Early: The sooner you start saving for a down payment, the easier it will be to come up with the money when you need it. Try setting aside a small amount of money each month so that you can slowly build up your savings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Think Outside the Bank: There are a lot of different ways to save for a down payment on a house. If you have some extra money each month, you could consider investing it in stocks or mutual funds. You could also start your own business and use the profits to help pay for your down payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Get creative: There are many creative ways to come up with the money for a down payment on a house. You could consider borrowing from family or friends, selling some of your possessions, or taking out a loan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Downsize: If you\u2019re finding it difficult to save enough money for a down payment, you could always try downsizing your lifestyle. This means living in a smaller house or apartment and cutting back on unnecessary expenses. This can free up some extra cash each month that you can put toward your down payment savings.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"2\"><span style=\"font-weight: 400;\">MortgagesToGo.ca<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Website<\/span><\/td>\n<td><a href=\"http:\/\/mortgagestogo.ca\/\"><span style=\"font-weight: 400;\">Mortgagestogo.ca<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Services<\/span><\/td>\n<td><span style=\"font-weight: 400;\">New purchase, refinancing and equity takeouts, mortgage transfer, mortgage renewal Rates<\/span><a href=\"https:\/\/mortgagestogo.ca\/mortgage-rates\/\"><span style=\"font-weight: 400;\">\u00a0<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Rates<\/span><\/td>\n<td><a href=\"https:\/\/mortgagestogo.ca\/mortgage-rates\/\"><span style=\"font-weight: 400;\">https:\/\/mortgagestogo.ca\/mortgage-rates\/<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Address<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12 Royal Vista Way NW #1110, Calgary, AB T3R 0N2<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Contact Details<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(888) 888-5998<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Operating Hours<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Monday &#8211; Friday 9 AM &#8211; 5 PM<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<p>Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.<\/p>\n","protected":false},"author":3,"featured_media":293,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[12],"tags":[19,18],"class_list":["post-292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgages","tag-down-payment-rules","tag-mortgage-down-payment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog<\/title>\n<meta name=\"description\" content=\"Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog\" \/>\n<meta property=\"og:description\" content=\"Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/\" \/>\n<meta property=\"og:site_name\" content=\"Mortgagestogo.ca Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-08T06:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-13T02:08:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"mortgages2go22@gmail.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mortgages2go22@gmail.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/\"},\"author\":{\"name\":\"mortgages2go22@gmail.com\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#\\\/schema\\\/person\\\/c10ea6685f40e319d2fe3f46e6aef41f\"},\"headline\":\"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA\",\"datePublished\":\"2022-12-08T06:00:00+00:00\",\"dateModified\":\"2022-12-13T02:08:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/\"},\"wordCount\":1382,\"image\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Untitled-design-5.png\",\"keywords\":[\"down payment rules\",\"mortgage down payment\"],\"articleSection\":[\"Mortgages\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/\",\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/\",\"name\":\"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Untitled-design-5.png\",\"datePublished\":\"2022-12-08T06:00:00+00:00\",\"dateModified\":\"2022-12-13T02:08:51+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#\\\/schema\\\/person\\\/c10ea6685f40e319d2fe3f46e6aef41f\"},\"description\":\"Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Untitled-design-5.png\",\"contentUrl\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Untitled-design-5.png\",\"width\":1080,\"height\":1080,\"caption\":\"mortgage downpayment\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/\",\"name\":\"Mortgagestogo.ca Blog\",\"description\":\"When the Banks say NO TRUST Mortgagestogo.ca\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#\\\/schema\\\/person\\\/c10ea6685f40e319d2fe3f46e6aef41f\",\"name\":\"mortgages2go22@gmail.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g\",\"caption\":\"mortgages2go22@gmail.com\"},\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/author\\\/mortgages2go22gmail-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog","description":"Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/","og_locale":"en_US","og_type":"article","og_title":"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog","og_description":"Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.","og_url":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/","og_site_name":"Mortgagestogo.ca Blog","article_published_time":"2022-12-08T06:00:00+00:00","article_modified_time":"2022-12-13T02:08:51+00:00","og_image":[{"width":1080,"height":1080,"url":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png","type":"image\/png"}],"author":"mortgages2go22@gmail.com","twitter_card":"summary_large_image","twitter_misc":{"Written by":"mortgages2go22@gmail.com","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#article","isPartOf":{"@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/"},"author":{"name":"mortgages2go22@gmail.com","@id":"https:\/\/mortgagestogo.ca\/blog\/#\/schema\/person\/c10ea6685f40e319d2fe3f46e6aef41f"},"headline":"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA","datePublished":"2022-12-08T06:00:00+00:00","dateModified":"2022-12-13T02:08:51+00:00","mainEntityOfPage":{"@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/"},"wordCount":1382,"image":{"@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#primaryimage"},"thumbnailUrl":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png","keywords":["down payment rules","mortgage down payment"],"articleSection":["Mortgages"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/","url":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/","name":"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog","isPartOf":{"@id":"https:\/\/mortgagestogo.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#primaryimage"},"image":{"@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#primaryimage"},"thumbnailUrl":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png","datePublished":"2022-12-08T06:00:00+00:00","dateModified":"2022-12-13T02:08:51+00:00","author":{"@id":"https:\/\/mortgagestogo.ca\/blog\/#\/schema\/person\/c10ea6685f40e319d2fe3f46e6aef41f"},"description":"Learn about the down payment rules for mortgages in Canada. Find out how much you need to save for a down payment and what options are available to help you get into your dream home.","breadcrumb":{"@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#primaryimage","url":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png","contentUrl":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/11\/Untitled-design-5.png","width":1080,"height":1080,"caption":"mortgage downpayment"},{"@type":"BreadcrumbList","@id":"https:\/\/mortgagestogo.ca\/blog\/down-payment-rules-for-a-mortgage-in-canada-mortgagestogo-ca\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mortgagestogo.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Down Payment Rules for a Mortgage in Canada | MORTGAGESTOGO.CA"}]},{"@type":"WebSite","@id":"https:\/\/mortgagestogo.ca\/blog\/#website","url":"https:\/\/mortgagestogo.ca\/blog\/","name":"Mortgagestogo.ca Blog","description":"When the Banks say NO TRUST Mortgagestogo.ca","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mortgagestogo.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/mortgagestogo.ca\/blog\/#\/schema\/person\/c10ea6685f40e319d2fe3f46e6aef41f","name":"mortgages2go22@gmail.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g","caption":"mortgages2go22@gmail.com"},"url":"https:\/\/mortgagestogo.ca\/blog\/author\/mortgages2go22gmail-com\/"}]}},"_links":{"self":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts\/292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/comments?post=292"}],"version-history":[{"count":5,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts\/292\/revisions"}],"predecessor-version":[{"id":565,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts\/292\/revisions\/565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/media\/293"}],"wp:attachment":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/media?parent=292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/categories?post=292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/tags?post=292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}