The amount of down payment that you will require will be determined by your lender. Historically speaking, lenders seem to be requiring ten percent (10%) of the price to the buyer as a down payment, although only your lender can confirm whether that is their current practice or not . For example, if the BHC consented to the sale of a BHC property and the sale price of the property was $600,000 and the homeowner had an 80% equity share in the property ($480,000), if the lender did require the purchaser to have ten percent (10%) down payment that would mean a down payment of $48,000 (10% of (600,000x80%)).
UPDATE 2018 stress test: As of the 1st of January 2018, all Canadian buyers borrowing from a federally regulated lenders will be subject to the OSFI Mortgage Stress Test, including insured borrowers (those with a down payments of 20% or more.)
Lenders will now have to qualify all conventional mortgages using the Bank of Canada’s 5-year benchmark rate, which is currently set at 4.99%, or at the current contracted rate + 2% if that rate exceeds the benchmark rate. So, if you are currently pre-approved at 3.5%, you will now have to qualify as if your interest rate were 5.5%, which could significantly reduce your buying power.