Minimal advance payment
A deposit is the money which you place towards the purchase of a house. The deposit is deducted through the purchase cost of your house. Your home mortgage will protect the rest of the cost of your home.
The minimum amount you will need for the advance payment will depend on the acquisition cost of your home you’d prefer to purchase.
|Purchase cost of your home||Minimum level of down payment|
|$500,000 or less||
|$500,000 to $999,999||
|$1 million or maybe more||
If you should be self-employed or have poor credit score, perhaps you are needed to offer a bigger deposit.