Greg & Colin Thornton

Colin Direct: 604-561-3306 | EMAIL |



Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from 5 per cent to 10 per cent for the portion of the house price above $500,000. The 5 per cent minimum down payment for properties up to $500,000 remains unchanged.


Here’s an example of what that means:


Client purchases for $600,000.


Amount over $500,000 = $600,000 - $500,000 = $100,000


Minimum Downpayment =


$500,000 * 5%    = $25,000

$100,000 * 10%  = $10,000


Total minimum downpayment = $35,000


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