Down Payment Calculator

Calculate your minimum down payment and total cash needed to buy a home in Canada.

Home Details

Minimum: 5.0% ($25,000)

Minimum Down Payment Rules

Up to $500K: 5%

$500K-$999K: 5% on first $500K + 10% on remainder

$1M+: 20% minimum

Total Cash Needed

$63,250

Down payment + closing costs

Breakdown

Your Down Payment (10%)$50,000
Base Mortgage$450,000
CMHC Insurance$13,950
Total Mortgage$463,950

Estimated Closing Costs

Land Transfer Tax (ON)$6,250
Legal Fees (est.)$2,000
Other (inspection, etc.)$5,000
Total Closing Costs$13,250

Track Your Down Payment Progress

Waypoint Budget helps you save toward your down payment goal with dedicated savings tracking.

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Disclaimer: This calculator is for educational and informational purposes only and does not constitute financial, tax, or legal advice. Results are estimates based on simplified assumptions and may not reflect your actual situation. Tax laws, contribution limits, and regulations change frequently. Always consult a qualified financial advisor or tax professional before making financial decisions. See our Terms of Service for full details.