What is the minimum down payment to buy a home in Barrhaven?
For a Barrhaven home priced at $500,000 or less, the minimum down payment is 5%; higher purchase-price bands require larger minimum amounts under federal consumer guidance. A down payment below 20% typically requires mortgage loan insurance.
Homes priced at $500,000 or less
The Financial Consumer Agency of Canada says the minimum down payment is 5% of the purchase price for a home at or below $500,000.
Homes priced above $500,000 and below $1.5 million
For this band, the minimum is 5% of the first $500,000 and 10% of the portion above $500,000. The calculation follows the purchase price, not a Barrhaven-specific rule.
Homes priced at $1.5 million or more
The minimum down payment is 20% at $1.5 million or more. The federal consumer agency says buyers with a down payment below 20% will typically need mortgage loan insurance. This page is general information, not a mortgage qualification or financial-advice assessment.
Source: Financial Consumer Agency of Canada, How much you need for a down payment