What is the minimum downpayment required to purchase real estate in BC?

Whether you are a first time home buyer, or purchasing for another time, and are using the home for principal use, the minimum requirements are:

  • From $0-$500,000 = 5%
  • From $500,000-$999,999 = 10%
  • Any properties valued $1,000,000 or greater, an automatic 20% downpayment on the entire amount is required

Purchase Example #1:

Purchase price of $750,000: $25,000 on the first $500,000 and $25,000 on the next $250,000 = a minimum downpayment of $50,000.

Purchase Example #2:

Purchase price of $1,200,000: automatic 20% = $240,000 required.

If you are purchasing the property as an investment, all lenders will require 20% as a minimum for down payment.

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