Home Buying Calculator

Estimate your monthly mortgage costs and cash needed before closing using province-specific taxes, rebates, and registration fees across Canada.

Rate type
Ownership costs Optional ownership costs included in the monthly housing estimate — property taxes, homeowners insurance, and strata or condo fees. These do not change the mortgage principal-and-interest payment itself. Costs included

Monthly Payment

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Breakdown

Monthly housing cost components
Mortgage equivalent —
Property tax —
Home insurance —
HOA / condo fees —

Scheduled mortgage payment: — monthly

Cash needed before closing Includes your down payment, modeled jurisdictional purchase costs, and planning allowances for common legal and transaction costs. Actual costs vary by property and transaction, so consider keeping an additional $2,000–$3,000 buffer.

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Breakdown

Cash needed before closing breakdown
Down payment —
Purchase costs Estimated from the selected jurisdiction’s current modeled rules. BC, Ontario, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Québec include transfer taxes; Alberta, Saskatchewan, and Newfoundland & Labrador include registry fees. Québec’s potential first-home credit is a later refund and does not reduce purchase cash. —
Legal & transaction costs A planning estimate for legal or notary fees, land-title registration, disbursements, and other routine transaction costs. Actual fees vary by provider and transaction. —
Other estimated costs A planning allowance for costs that can vary by purchase, such as a home inspection, appraisal, property-tax adjustments, and other closing adjustments. Some of these costs may not apply to you. —

Mortgage details

Purchase mortgage amount and term performance
Total mortgage —
Mortgage insurance Added to the mortgage when the down payment is below 20% and the purchase price is below $1.5M, subject to eligibility and insurer rules. Not required when down payment ≥ 20% or purchase price ≥ $1.5M. Premium = base mortgage × rate (15% down 2.8%, 10% down 3.1%, 5% down 4%). Add 0.2% to the rate if amortization exceeds 25 years. —
During this term
Principal paid —
Interest paid —
Balance at renewal The estimated mortgage balance remaining at the end of the selected mortgage term. —

Purchase costs use the current modeled rules for the selected province. Eligible first-time buyer relief is estimated only when selected. Legal and other purchase costs are fixed planning allowances; actual amounts vary by transaction. Monthly housing cost uses a monthly equivalent for non-monthly payment schedules.

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These calculations are general estimates only. They are not an approval, qualification result, lender commitment, or financial advice. Actual rates, payments, fees, insurance, penalties, and lender calculations may vary.

How to read your results

How to read your home-buying estimate

The monthly payment is only one part of the purchase picture. For buyers in all ten provinces, this calculator also estimates minimum down payment, possible mortgage insurance, purchase costs, and cash needed before closing.

View calculation details

How the main results connect

Base mortgage equals purchase price minus down payment. If insurance is required, the premium may be added to the mortgage amount.

Cash needed before closing combines your down payment with modeled purchase taxes or registration fees for the selected jurisdiction and planning allowances for legal and other costs — not a property-specific quote.

Payment, insurance, and cash needed can all change when you adjust price, down payment, rate, amortization, or term.

Insured vs. uninsured

Less than 20% down on an eligible purchase may require mortgage insurance. A 20% down payment may avoid that premium.

Minimum vs. larger down payment

A larger down payment can reduce the mortgage and insurance exposure, while tying up more cash before closing.

Amortization length

A longer amortization can lower the payment. A shorter one usually costs more each month and less over time.

Pre-approval vs. final approval

Pre-approval is an early review. Final approval depends on the property, documents, and lender rules.

Important labels

Minimum down payment
A planning estimate of the lowest down payment often discussed for the purchase price entered. Lenders may require more.
Base mortgage
Purchase price minus the down payment you entered, before any mortgage insurance premium.
Mortgage insurance
An estimated default-insurance premium that may apply when the down payment is under 20% on an eligible purchase.
Total mortgage after insurance
The base mortgage plus any estimated insurance premium added to the loan amount.
Cash needed before closing
Your down payment, modeled purchase taxes or registration fees for the selected jurisdiction, and planning allowances for legal and other costs. Keep a buffer for adjustments that can vary by transaction.

Available across all 10 provinces

Closing costs vary across Canada

Home-buying costs vary by province and sometimes by municipality. Select your province above and the calculator will apply the relevant transfer taxes, registration fees, rebates, and other modeled purchase costs.

Purchase costs modeled for each supported Canadian province
Province Calculator considers
British Columbia Property Transfer Tax and modeled first-time buyer relief
Ontario Provincial Land Transfer Tax, Toronto MLTT when selected, modeled refunds, and insurance-premium RST
Alberta Title-transfer and mortgage-registration fees
Saskatchewan Title and mortgage registration fees plus insurance-premium PST
Manitoba Land Transfer Tax and transfer-registration fee
New Brunswick Real Property Transfer Tax using assessed value when supplied
Nova Scotia Municipality-specific Deed Transfer Tax
Prince Edward Island Real Property Transfer Tax and modeled exemptions
Quebec Transfer duties, Montréal rules when selected, insurance-premium tax, and modeled later credit
Newfoundland & Labrador Deed and mortgage registration fees
Official purchase-cost sources

These government, municipal, and registry sources support the rules currently modeled by the calculator. Eligibility and transaction-specific charges may differ.

Beyond the estimate

What else should you consider?

Buying in any supported province costs more than the mortgage payment. Closing costs, ongoing ownership costs, and provincial or municipal rules can change the cash you need.

Costs not fully shown here

  • Other provincial, municipal, new-home, or non-resident taxes and rebates that may apply
  • Exact legal or notary fees for your transaction
  • GST on an applicable new home
  • Inspection, appraisal, adjustments, moving costs, and immediate repairs
  • Ongoing property taxes, insurance, strata fees, utilities, and maintenance

Programs to explore

  • First Home Savings Account (FHSA)
  • Home Buyers’ Plan
  • BC, Ontario, Toronto, PEI, or Québec first-time buyer transfer-tax relief or credit

May require confirmation

  • Affordability and mortgage approval, including stress testing
  • Whether a mortgage pre-approval is a useful next step before you make offers
  • Program eligibility for FHSA, Home Buyers’ Plan, or provincial and municipal tax relief
  • Exact closing costs for your property and transaction

Frequently asked questions

Which provinces does this home-buying calculator support?

It supports all ten Canadian provinces, with municipality or value inputs where required. The estimate uses common Canadian down-payment and insurance rules plus modeled purchase taxes or registration fees for the jurisdiction you select. The three territories are not currently included.

How much down payment do I need?

The minimum depends on the purchase price. As a general Canadian rule, 5% applies to the first portion of the price and a higher percentage may apply above set thresholds. Your lender or mortgage product can also set higher requirements.

When is mortgage insurance required?

On an eligible purchase, mortgage default insurance is typically required when your down payment is less than 20%. The premium is often added to the mortgage. High-ratio rules and price caps can affect availability.

Which purchase taxes and registration fees are included?

BC estimates include general Property Transfer Tax. Ontario includes provincial tax, optional Toronto tax, and RST on mortgage-insurance premiums. Alberta, Saskatchewan, and Newfoundland & Labrador include registry fees; Saskatchewan also includes insurance-premium PST. Manitoba, New Brunswick, Nova Scotia, and PEI include their modeled transfer taxes. Québec includes 2026 property transfer duties using Montréal’s schedule or a base-rate estimate elsewhere, plus 9% tax on mortgage-insurance premiums. Its potential first-home credit is shown as a later refund. The calculator also uses fixed planning allowances for legal and other costs.

Does this include property transfer tax?

Yes for BC, Ontario, Manitoba, New Brunswick, Nova Scotia, PEI, and Québec, including Toronto or Montréal rules when selected. Québec uses the higher of purchase price or entered adjusted municipal market value; other Québec municipalities use the statutory base schedule as a planning estimate. Alberta, Saskatchewan, and Newfoundland & Labrador instead show modeled registry fees. First-time buyer relief is estimated for supported programs when enabled; Québec’s potential credit is a later refund and does not reduce purchase cash. Other taxes, exemptions, and legal eligibility are not determined here.

How much cash should I keep after closing?

Many buyers keep a cash buffer for moving, immediate repairs, prepaid expenses, and the first months of ownership costs. The right amount depends on your property, reserves, and risk comfort.

Does this tell me how much home I can afford?

No. This calculator estimates costs for a purchase price you enter. Qualification depends on income, debts, credit, down payment, the property, and lender rules — including stress-test requirements that apply across Canada.

Should I get a mortgage pre-approval before I make an offer?

A pre-approval is a separate lender review of your situation. This calculator estimates purchase costs for the values you enter. If you want to understand what pre-approval may and may not tell you, start with the Mortgage Pre-Approval page before treating a maximum number as a target price.

How does the Canadian mortgage stress test affect my estimate?

Lenders typically qualify buyers using a stress-test rate that is higher than the contract rate entered here. As a result, the maximum purchase price or mortgage amount you can be approved for may be lower than what this calculator’s payment estimate implies.

Buying in BC? Jim can help you review your mortgage options.

This calculator is available across Canada. If you are buying in British Columbia, share your price range, down payment, jurisdiction, and estimate with Jim for a practical review.

Learn about mortgage pre-approval in BC →

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