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What is the minimum down payment required for a Tangerine Mortgage?

The minimum down payment is 5% for homes up to $500,000, and 10% for any portion above that, with a maximum purchase price of $1,499,999.99.

Homes priced at $1,500,000 or more require a minimum 20% down payment.

On rental properties, the minimum down payment has to be 20% of the purchase price.

Where can the down payment come from?
  • RSP (Home Buyers’ Plan), a bank account (chequing, savings, TFSA, GICs, etc.), investments, stock, or as a gift (gift letter is needed).
  • These funds must have been in a Canadian account for at least 90 days.
  • Borrowed money is not accepted as a down payment.

For more information, please call one of our helpful Mortgage Specialists at 1-888-826-4374 (Monday to Friday, between 8:00 am and 8:00 pm ET and closed on holidays.)