Contrary to popular belief, you may not need a 20% down payment to buy a home! Depending on your income and the price of the home you want, you may be able to own a home without having 20% down! However, if you have less than 20% down payment, you will need to buy mortgage insurance, either from the Lender or from The Canadian Housing Mortgage Corporation (CHMC). 

It's always wise to save for a down payment and minimize your debts, so always seek professional advice to see what is the most suitable for you! 

This is the guidelines of the minimum amount you need:

CHMC Down Payment Guidelines 

Additional Information on Mortgage Loan Insurance 

Mortgage Calculator