How Do I Know How Much to Pay for my Down Payment?
                     How Do I Know How Much to Pay 
for my Down Payment?
Knowing how much you can afford to pay will 
also be a huge factor in determining the down 
payment. There are some general requirements 
as well, they are below:
Source :www.mortgagebrokeralberta.ca
If your home value is less than $500K, 5% of 
the purchase price is required.
Source :www.mortgagebrokeralberta.ca
If the home value is more than $500K but 
less than $999,999, then 5% of the purchase 
price up to $500K plus 10% on the remaining 
amount is required.
Source :www.mortgagebrokeralberta.ca
If the home value is more than $500K but 
less than $999,999, then 5% of the purchase 
price up to $500K plus 10% on the remaining 
amount is required.
Source :www.mortgagebrokeralberta.ca
If the property is valued at more than $1 
Million, a minimum of 20% down payment will 
be required.
Source :www.mortgagebrokeralberta.ca
The best way to determine how much you’ll 
be required to pay as a down payment is to 
speak to a mortgage broker at Mortgage 
Design Group. A mortgage broker can help 
you assess how much you can
afford when looking for a home.
Source :www.mortgagebrokeralberta.ca
Mortgage Design Group Inc.
PH: (403) 942-4099
[email protected]
Source :www.mortgagebrokeralberta.ca