In this blog, I provide a refresher on the down payment (equity) requirements for residential mortgages. It is a very common question and the answer depends on many factors. It depends on the property type (house/condo, acreage, vacant lot, farm etc.), who’s going to live in or on the property, how you earn income, and your credit rating. It also depends on whether you are looking for purchase financing or to replace/renew an existing mortgage. In this article, I am going to try and simplify the various ‘lending rule books’ for you in only 600 words!