The minimum down payment federally is 5 percent up to $500,000, then 10 percent on the amount above that, and $22,235 is what 5 percent looks like against today's benchmark price, though a smaller down payment also means a larger insurance premium added to the mortgage.
A Home Buyers' Plan withdrawal of up to $60,000, or an FHSA contribution of up to $8,000 a year to a $40,000 lifetime limit, are two ways many buyers fund part of that down payment without touching other savings, and both have their own repayment or contribution rules worth understanding before you rely on them.
Add title insurance and possession-day adjustments like property tax proration, and the true cost of buying is meaningfully more than the purchase price on the listing. Get your hand-reviewed valuation from Joel Dyck.