Should you buy now with 5% down or wait until you have 20%? Compare CMHC insurance, payments and total interest across four down payment levels.
Assumptions effective 2026-01-01. Regulatory figures (stress-test rules, down-payment brackets, CMHC tiers, rebates) are managed in Admin → Calculators.
Answers to common questions about the down payment comparison calculator
At 20% you skip CMHC insurance entirely, which saves thousands upfront plus interest. But waiting to save 20% while prices rise can cost more than the insurance — the comparison shows both sides.
5% on the first $500,000, 10% on the portion from $500,000 to $1M, and 20% on homes over $1M.
Calculations use current Canadian mortgage rules, including the mortgage stress test and CMHC insurance tiers. For informational purposes only — not financial advice. Confirm details with your mortgage professional before making decisions.
A higher down payment reduces CMHC insurance and monthly payments, but the opportunity cost of waiting should be considered. If home prices rise faster than your savings rate, buying sooner may be better.
| Down % | Down Payment | CMHC Insurance | Monthly Payment | Total Cost |
|---|---|---|---|---|
| 5% | $30,000 | $34,200 | $3,529/mo | $1,088,572 |
| 10% | $60,000 | $28,350 | $3,319/mo | $1,055,762 |
| 15% | $90,000 | $20,400 | $3,098/mo | $1,019,273 |
| 20% ★ | $120,000 | None | $2,803/mo | $960,971 |