Mortgage rules in British Columbia
Mortgage basics — British Columbia
Minimum down payment: 5% of the purchase price for $500,000 or less; 5% of the first $500,000 plus 10% of the portion above $500,000 for $500,000 to $1.5 million; 20% for $1.5 million or more.
Conditions: A down payment below 20% typically requires mortgage loan insurance; A lender may require a larger down payment
For city: Vancouver
Minimum down payment: 5% of the price for a home costing $500,000 or less; between $500,000 and $1.5 million, 5% of the first $500,000 plus 10% of the amount above $500,000; $1.5 million or more, 20%.
- Quote
$500,000 or less 5% of the purchase price $500,000 to $1.5 million 5% of the first $500,000 of the purchase price 10% for the portion of the purchase price above $500,000 $1.5 million or more 20% of the purchase price
Verbatim from the source, in the original language- Retrieved
- — when we fetched the source page
- Verified
- — when the quote and figures were checked against the source
- Next verification
- Dec 28, 2026
Plain-language summary — not the legal text; see the quoted source.
Source: "How much you need for a down payment - Canada.ca", https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html. Copy of the version at this link; not affiliated with the Government of Canada.
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