Minimum down payment in Canada is 5 percent on the first $500,000 of the purchase price and 10 percent on any amount above that, and the Home Buyers' Plan or a First Home Savings Account, both through the Canada Revenue Agency, can help you get there faster.
With supply at 1.63 months as of August 2026, buyers currently have real selection across price points, which works in a first-time buyer's favour compared to a tighter market where entry-level homes get bid up fast.
Get your hand-reviewed valuation from Joel Dyck.