Quick Answer
How much down payment do I need to buy a home in Coquitlam?
BC minimum down payment in 2026: 5% on homes under $500,000. 5% on first $500K + 10% on the portion from $500K up to $1.5M. 20% minimum on homes $1.5M and over (mortgage insurance isn't available at that price, which takes in many Coquitlam detached homes). On... Craig Johnston, Top 1% Team — Greater Vancouver REALTORS®, 2023–2025 and 47+ year Tri-Cities resident, can walk you through the local context. Free Strategy Call ends with a written one-page plan in 24 hours.
Quick Answer
BC minimum down payment in 2026: 5% on homes under $500,000. 5% on first $500K + 10% on the portion from $500K up to $1.5M. 20% minimum on homes $1.5M and over (mortgage insurance isn't available at that price, which takes in many Coquitlam detached homes). On a $1.5M Coquitlam home, that's $300,000 minimum. Plus closing costs of 2-4% (legal, property transfer tax, GST on new builds, inspection, moving). All-in, plan for the down payment plus another $20K-$50K in closing on most Tri-Cities purchases.
What this looks like in real numbers (September 2026 Coquitlam):
Plan for these on top of the down payment:
Frequently asked
BC minimum down payment in 2026: 5% on homes under $500,000. 5% on first $500K + 10% on the portion from $500K up to $1.5M. 20% minimum on homes $1.5M and over (mortgage insurance isn't available at that price, which takes in many Coquitlam detached homes). On a $1.5M Coquitlam home, that's $300,000 minimum. Plus closing costs of 2-4% (legal, property transfer tax, GST on new builds, inspection, moving). All-in, plan for the down payment plus another $20K-$50K in closing on most Tri-Cities purchases.
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“Craig worked with my wife and me for over 3 years to find the perfect home. He was endlessly patient with us through the process. Eventually, we found our perfect home and he moved fast to execute on our behalf. He negotiated fairly and thoroughly with the sellers and was our advocate all throughout our first home purchase.”David Catterall
“Craig kept me informed of the local market for a couple of years before I asked him to handle my Coquitlam sale. He laid out the strategy upfront, the listing generated a lot of interest, and we had an acceptable offer in under a month. I was stressed going in — Craig helped me overcome a lot of my anxiety. I’ve already introduced him to my sister, who plans to sell soon.”Fj Young
“Craig was there with us everyday. Guiding us to our next step we were kept informed daily sometimes multiple times a day as to what was happening… Our home sold in only 6 days with multiple offers.”Gerry & Aline Howitson