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Minimum Down Payment for Income Property (Duplex, Triplex, Fourplex, Multiplex)

Minimum Down Payment for Income Property (Duplex, Triplex, Fourplex, Multiplex)

Down Payment Income Property

Duplex down payment

Here is what I believe to be one of the greatest advantages of a duplex.  The minimum down payment for the owner-occupant is only 5%. In fact, when it comes to down payments, the duplex is identical to a house or a condo. This means that at the time of purchase, if you plan on living in the building, the down payment will be 5% of the sale price for a purchase insured with a mortgage insurer (CMHC, Genworth, Canada Guaranty). However, if you do not intend to live in the duplex or if you prefer to avoid mortgage insurance fees then the minimal down payment will be 20%.

 

Minimum down payment for a triplex

When you want to purchase a triplex as an owner-occupant, the minimum down payment, with mortgage insurance, is 10% of the purchase price. Once again, if you do not intend to live in the triplex or to avoid mortgage insurance fees, you must have a down payment of 20%.

 

Minimum down payment for a fourplex

The down payment rules for a fourplex are identical to those of a triplex.  Therefore, if you plan on residing in the building the down payment is 10% of the purchase price, always through mortgage insurance. … LIRE LA SUITE