There Is Some Confusion On How Much Cash Needs To Be Put Down On A Property Once An Offer Has Been Accepted On A Property.

In ontario, you will need to have at least a 5% down payment for purchase prices under $500,000. The smallest amount is therefore the market value estimate. The market appraisal values the home to be worth $190,000.

The Minimum Down Payment Across Canada For Homes Worth.

5% of the first $500,000 of the purchase price. Your minimum down payment depends on the purchase price of your property. Here’s an estimate of the minimum down payment for a condo:

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The short answer is, it depends. While there is no set requirement for real estate deposits in ontario by law, the standard deposit for a home purchase is 5% of your offer price. 5% of the initial $500,000 of the total purchase price and 10% of the remaining price.

If You're Shopping For A $250,000 Home, 20% Down Would Be $50,000.

The minimum down payment for a second home in ontario is based on the value of the home. But how much do you really need to put down? If you want to finance a rental property with a mortgage, you will need to come up with at least 20% of the down.

The Minimum Down Payment Is 5%, Which Applies To All Homes Valued At $500,000.

5% of the purchase price. How much do you need to put down on a house. If your purchase price is under $500,000, your minimum down payment is 5% of the purchase.