What will buying cost?

The purchase price is only part of it. See the down payment, insurance, property transfer tax and closing costs together.

Purchase calculator

How to use it

Enter a purchase price and your down payment. The calculator works out the mortgage, the mortgage default insurance if your down payment is under twenty percent, BC property transfer tax and the closing costs to budget for.

Reading the result

The minimum down payment in Canada is five percent of the first $500,000 and ten percent of the rest, up to the insured limit. Above that it is twenty percent. Under twenty percent, default insurance is added to the mortgage rather than paid up front. BC charges property transfer tax on a sliding scale, and first-time buyers and buyers of newly built homes may qualify for an exemption, so tell me if either applies. Closing costs cover your lawyer or notary, an appraisal if the lender wants one, title insurance and adjustments for tax already paid by the seller.

Keep reading: First-time home buyers