How Much Down Payment Do You REALLY Need? | Canada Mortgage Guide 2026 | Shut Up & Ask

Buying your first home? One of the biggest questions buyers ask is, "How much down payment do I actually need?" In this episode of Shut Up & Ask, I break down Canada's minimum down payment rules in plain English. We'll cover when you need 5%, 10%, or 20% down, how purchase price affects your financing, and some of the biggest misconceptions that can catch buyers off guard. Whether you're a first-time home buyer or planning your next purchase, this video will help you understand the basics before making an offer. In this video you'll learn: ✔️ When 5% down is enough ✔️ When 10% down is required ✔️ When 20% down is mandatory ✔️ How purchase price changes your minimum down payment ✔️ Common down payment mistakes to avoid ✔️ Tips to help you prepare before shopping for a home Have a mortgage question you'd like answered? Leave it in the comments. Your question might become the next episode of Shut Up & Ask! If you found this video helpful: 👍 Like the video 🔔 Subscribe for straightforward mortgage advice with no BS 💬 Comment below: What's the biggest obstacle preventing you from buying a home right now? Need mortgage advice or a pre-approval? 📅 Book a consultation: https://blumortgage-bluimplementation... 📝 Apply online: https://tribecamortgages.ca 🌐 Website: https://tribecamortgages.ca I'm Fernando Zilli, a Mortgage Broker and real estate financing advisor based in Victoria, BC, helping clients throughout British Columbia navigate everything from first-time home purchases to complex financing strategies. I specialize in structuring mortgages that many people are told can't be done, including self-employed borrowers, real estate investors, construction financing, private lending, equity takeouts, and high-value purchases. My approach is simple: understand your long-term financial goals first, then build the financing strategy that best supports them. I don't believe in selling mortgages. I believe in educating clients, explaining the "why" behind every recommendation, and giving honest advice, even if that means telling you not to borrow today. My goal is to help you make informed financial decisions that build wealth over the long term, not just get a loan approved. If you're looking for straightforward mortgage advice with no jargon and no BS, you're in the right place. Disclaimer: This video is for educational purposes only and should not be considered financial or legal advice. Mortgage guidelines, government programs, and lender policies can change. Always consult a qualified mortgage professional regarding your specific situation. #DownPayment #FirstTimeHomeBuyer #MortgageCanada #CanadianMortgage #HomeBuying