The portion of the purchase price you pay upfront from your own funds.
Minimum down payment rules in Canada: 5% on the first $500,000 of purchase price, 10% on the portion between $500,000 and $1.5 million, and 20% on properties over $1.5 million. Sources of down payment can include savings, RRSP withdrawals (Home Buyers Plan up to $60,000), FHSA withdrawals, gifts from immediate family, and sale proceeds from another property. Borrowed down payments are generally not allowed for insured mortgages.
Related terms: Loan-to-Value (LTV) Ratio | CMHC Mortgage Insurance | First Home Savings Account (FHSA)