For all home buyers, the minimum down payment for a home with a purchase price of $1,000,000 or less is 5% for the first $500,000 and 10% for any amount between $500,001 and $999,999. If the purchase price is $1,000,000 or more, a minimum 20% down payment is required. Different rules may apply if you are purchasing a second property.
Please note that mortgage approval is dependent on many factors and some lenders may require a down payment above than the minimum in order to qualify. Also, if your down payment is less than 20%, you are required to buy mortgage default insurance.