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Why do some purchases require a higher down payment than others?

General Angela Calla 23 Mar

Your purchasing journey is unique, and so are the mortgage options available along with it.

Here are some of the reasons it’s important to review your pre-approval specific to the property. Keep these reasons in mind when choosing the best product for YOU.

  1. Zoning – Is your property commercial, ALR, or leased land?
  2. Strata type and bylaws – Are there any age restrictions or work being done in the building? Such as rental pools, seasonal new construction. There are a variety of deposit structures that range from 5% – 20% that may or may not be required for your specific approval.
  3. Access – How accessible is your property? With consideration to services and seasonality/roads population in the city/town, regional district, even the construction materials can impact the approval.
  4. Purchase Price – If your purchase price is $1 million or over, this requires 20% or more for a down payment. Reviewing your options and keeping your Mortgage Professional updated, whether it’s your first purchase or you’re acquiring assets to build your portfolio, will help you anticipate potential conflicts and adapt your strategy to meet your unique needs.

While there is only so much due diligence you can do prior to having an accepted offer, making sure you’re subject to financing if you require this is crucial.


Angela Calla is a 16-year award-winning woman of influence and mortgage expert. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. She educates and empowers individuals on “The Mortgage Show”, and is the best selling author of The Mortgage Code where all proceeds are donated to the YWCA.

Angela is a magazine contributor, speaker, and recently collaborated to publish her third book, Pursuit:365. In August of 2020, Angela surpassed $1 Billion dollars in funded personal mortgage volume at the young age of 37 and was recently awarded the 2020 Business Leader of the Year Award. Angela leads by example with passion and conviction, known as an industry expert and go-to source for media and publishers across the Country.

For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or 604-802-3983.