Down Payment Calculator (Canada)
Calculate the minimum down payment, estimate closing costs, and see the total cash needed to close.
Inputs
Closing costs (optional estimates)
Results
Breakdown
| Item | Amount |
|---|---|
| Down payment | $— |
| Land transfer tax / transfer fee | $— |
| Legal fees | $— |
| Inspection | $— |
| Appraisal | $— |
| Title insurance | $— |
| Misc buffer | $— |
| Total cash to close | $— |
Cash split
Down Payment in Canada: how much you really need to buy a home
A down payment is the upfront amount you contribute toward a home purchase. In Canada, the size of your down payment affects more than just your mortgage balance — it can influence whether you need mortgage default insurance (often called CMHC insurance), how lenders evaluate your application, and how much cash you must have available on closing day. This calculator focuses on three practical planning numbers: the minimum down payment under common rule-based thresholds, your chosen down payment (entered as a percent or a dollar amount), and an estimate of closing costs so you can see the total cash needed to close.
Many buyers think, “If I can cover the down payment, I’m ready.” In real life, deals can fall apart because of the cash required at closing. Even a relatively small gap can cause stress when you’re days away from possession. That’s why this page shows “cash ready vs needed” alongside the down payment and the closing costs. It turns your plan into a simple yes/no: do you have enough cash to close, or do you need to adjust your offer, your down payment, or your timeline?
Minimum down payment rules (simple overview)
The minimum down payment in Canada is commonly tied to the purchase price. For many standard residential purchases below the $1,000,000 threshold, the minimum is calculated as 5% on an initial portion of the price and 10% on the remaining portion. For purchases at or above $1,000,000, lenders typically require at least 20% down. The calculator displays this rule-based minimum so you can quickly see whether your chosen down payment meets the minimum requirement. If you enter a down payment below the minimum, the tool will flag it so you can adjust your input.
Closing costs: what’s included and why it matters
Closing costs are additional expenses required to complete the purchase and transfer ownership. The largest item can be land transfer tax (or a similar provincial transfer fee), which varies depending on your province and sometimes your city. You may also pay legal fees (lawyer or notary), title insurance, appraisal fees if a lender requires an appraisal, and optional costs like a home inspection. Because these costs vary widely by location, property type, and lender, this calculator uses editable estimates (hidden under “Closing costs”) to keep the main experience simple while still allowing more realistic planning when you need it.
A common planning mistake is to put every dollar into the down payment and leave no buffer for closing costs, moving expenses, and small adjustments. Even if those smaller items aren’t huge individually, they add up. The “Misc buffer” field lets you include a small percentage of the home price to represent prorations, utilities, property tax adjustments, and other costs that can be hard to predict early in the process.
Province estimates and transfer taxes
Transfer taxes and fees are very location-specific. To avoid confusion and to keep the calculator honest, the “Auto” mode is limited to ON and BC. If you select another province, the calculator automatically switches to “Custom” so you can enter your expected transfer fee based on local information. This approach is simpler for everyday users: instead of showing a misleading “$0” number, the tool makes it clear when a local figure is needed.
First-time home buyer rebates
Some provinces and municipalities offer rebates or credits for eligible first-time home buyers, but the rules can be strict and can change. For transparency, this calculator applies only a limited Ontario provincial rebate estimate when eligible and does not attempt to fully model every program in every province. Use the result as a planning estimate, then confirm exact amounts with your real estate lawyer/notary or a local government source when you are close to buying.
How to use this calculator quickly
- Enter your home price.
- Choose down payment by percent or amount.
- Select your province and whether you are a first-time home buyer.
- Press Calculate to see “Total cash needed to close”.
- If you want more accuracy, open Closing costs and adjust estimates.
- Use Cash you have available to instantly see surplus or shortfall.
Related calculators
Most buyers use multiple tools together. Start with Mortgage Affordability to estimate a realistic home price range, then use Mortgage Payment to understand monthly costs at different rates and amortizations. Finally, use this down payment calculator to verify the cash required to close and to avoid last-minute surprises.
Quick links: Mortgage Affordability (Canada) and Mortgage Payment (Canada). (Replace these URLs with your real page slugs.)
Disclaimer: This calculator provides estimates for planning purposes only. Real closing costs, transfer taxes, and rebates vary by location, property type, lender requirements, and eligibility. Always confirm final numbers with your lender and legal professional.