How To Purchase Property Without 20 Percent Down Payment.

You do not need a 20 percent down payment if you are buying a home that is deemed your principal residence. You only need the minimum required down payment, which is 5 percent of the first $500,000 and 10 percent of the remaining amount not exceeding $1 Million. If you are purchasing a property for more than $1 Million, you will require at least 20 percent down. 

Subsequent or Additional Properties
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If you want to purchase a "Second Home" like a cottage or a property for your child who is studying out of town, for example, you only need 10 percent down if the property price does not exceed $1 Million.