A six-figure household income goes further with a bigger down payment. The difference is shown below.
Most you can spend on a home
Down payment
CMHC insurance premium
Mortgage (with premium)
Qualifying (stress test) rate
Actual monthly payment
What a $100,000 income buys
| Down payment | Most you can spend | Down payment needed | Actual monthly payment |
|---|---|---|---|
| Minimum | $432,000 | $21,600 | $2,247 |
| 10% | $457,000 | $45,700 | $2,233 |
| 20% | $506,000 | $101,200 | $2,207 |
The assumptions and rules behind these figures are on the affordability calculator page.
Minimum down versus 20%
With the minimum down payment, $100,000 supports about $432,000; with 20% down, about $506,000. The gap comes from the CMHC premium and the larger loan below 20%. Buying at the higher price takes $101,200 in savings.