A 5% down payment is required to purchase a home, subject to certain maximum price limits. In addition to the down payment, you must be able to demonstrate that you can cover the applicable closing costs, which are typically 1.5% of the purchase price (i.e. legal fees and disbursements, appraisal fee, land transfer tax and a survey certificate, where applicable, etc.). Regardless of the size of your down payment, at least 5% must come from your own funds or from a gift from an immediate family member. A 10% down payment is usually required for newcomers to Canada. Non-residents require 35%. Even from a family member, the down payment cannot be borrowed. Mortgage default insurance is required for mortgages with less than 20% down.