The official minimum down payment for a new home buyer in Canada is 5%. However, there are caveats to this. If you are buying a home with a value of more than $500,000, you are required to give at least 10% as a down payment. Many financial experts state that 20% is the ideal amount to put down for a down payment, so if you are looking to buy a house it might be worthwhile to save up for a few years before you start searching.