# How much downpayment do I need?

The answer depends on the value of the property you are looking to purchase, and where you live.

If you are in Canada or the United States:

- If the purchase price is less than $500,000, the minimum down payment is 5%.
- If the purchase price is between $500,000 and $999,999, the minimum down payment is 5% of the first $500,000, and 10% of any amount over $500,000.
- If the purchase price is $1,000,000 or more, the minimum down payment is 20%.