Down Payment Calculator
Estimate how much down payment you need for a home in Ontario, and whether mortgage default insurance applies. This is an estimate to help you plan, not an offer or approval.
Since December 2021, HB Mortgage Centre has funded over $1 billion in mortgages through more than 50 lenders.
Written by the HB Mortgage Centre team. Reviewed by Hardeep Batoo, Principal Broker (licence M13002408). HB Mortgage Centre is an FSRA-licensed brokerage (#13449). Last updated: June 23, 2026.
Estimate your down payment and insurance
Percentage: 5.00% of purchase price
Estimate
Minimum Down Payment
$25,000
5.00% of price
Base Mortgage Amount
$475,000
before insurance
CMHC Default Insurance Premium
$19,000
4.00% - 5% to 9.99% down
Insured Mortgage Amount
$494,000
mortgage + premium added
Estimated Monthly Payment (25-yr amortization, 5.00%)
$2,873/mo
Canadian semi-annual compounding convention
This is an estimate only. Subject to qualification. Not an offer or approval. Rules and premiums are subject to current regulations and may change. Confirm details with your mortgage broker before making any decisions.
Estimate only. Rules and premiums subject to current regulations. Canadian terminology. Subject to qualification.
How to use it
Enter the purchase price and your planned down payment. The estimate shows the minimum required, whether default insurance applies, and the mortgage amount that results. Increase the down payment to see how it can lower your costs and, above a threshold, avoid insurance.