BoC 2.25%/Prime 4.45%/Next Jul 15/CPI ~3.2%/USD/CAD

Down payment for a home in Saguenay

For an average Saguenay home (about $300,000), the minimum down payment is roughly $15,000, or $60,000 to put 20% down and skip mortgage insurance.

Quick answer

The minimum down payment for an average Saguenay home ($300,000) is about $15,000 in 2026 — 5% on the first $500,000 and 10% on the portion above. Putting 20% down ($60,000) avoids CMHC insurance. Illustrative, not advice.

$15,000
minimum down
$60,000
20% down
$300,000
average home price
Minimum down · Saguenay
$15,000
See the rules →

Down payment options for a Saguenay home

ScenarioDown payment
Minimum (insured)$15,000 (5.0%)
10% down$30,000
20% down (no insurance)$60,000

Under 20%% down you also pay CMHC mortgage-default insurance (about 4.00%% of the mortgage at 5%% down). Learn more on the CMHC insurance calculator and down payment guide.

The Saguenay market in context

A regional Quebec city with very affordable housing and a stable, industry-based economy. Remember the down payment is only part of the upfront cost — budget for land transfer tax and legal fees too. See land transfer tax by province.

Frequently asked questions

What is the minimum down payment in Saguenay?

About $15,000 on an average Saguenay home — 5% on the first $500k, 10% above (illustrative).

Do I need 20%% down?

No — you can buy with as little as 5%%, but under 20%% you pay CMHC mortgage-default insurance.

Related Saguenay tools

Sources: Bank of Canada — policy & prime rate; lender GDS/TDS & stress-test rules (OSFI). Figures illustrative; reviewed 2026.
Independent & not affiliated. bankratecanada.ca (Overnight) is not affiliated with the Bank of Canada or any government. All figures are approximate, illustrative estimates — not quotes, not official statistics, and not financial advice. Verify with a licensed mortgage professional. See our Terms and Privacy.
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