🛠 Buyer Toolkit
CASH COMMAND CENTER
Marketing Matters.
Heads up - this is a guide, not gospel.
These figures are estimates to help you plan your buy. Before you rely on any of these numbers, talk to a licensed mortgage broker (and your real estate lawyer) about your actual rate, approval, insurance, and closing costs. Every deal is a little different - let's get you real numbers.
Start Here · Property Details
Four Scenarios · Side by Side
How these numbers work
Real numbers, no marketing math. Here's the breakdown:
- Minimum down payment - for an eligible purchase below $1.5M, 5% on the first $500K and 10% on the remainder. At $1.5M or more, the minimum is 20% of the full purchase price.
- CMHC insurance - Required when you put less than 20% down. Rate scales with down payment: 4.00% (5-9.99% down), 3.10% (10-14.99% down), 2.80% (15-19.99% down). The premium gets added to your mortgage - you don't pay it cash.
- PST on CMHC - Ontario charges 8% PST on the CMHC premium. This one you DO pay at closing in cash.
- Land Transfer Tax (Ontario) - 0.5% on first $55K, 1.0% to $250K, 1.5% to $400K, 2.0% to $2M, 2.5% above. First-time buyers get up to $4,000 back.
- Mortgage payment - Calculated using Canadian semi-annual compounding (not the US monthly compounding most online calculators get wrong).
- Closing costs - Lawyer, title insurance, home inspection, appraisal. These are estimates - your actual costs will vary slightly.