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Mortgage and transfer tax

Canadian mortgages compound twice a year, not monthly. This calculator does it the Canadian way, checks your minimum down payment and adds BC’s property transfer tax.

—per month
Mortgage amount
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Minimum down payment
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Total interest over the amortization
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BC property transfer tax
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Cash needed at closing (down + tax)
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Transfer tax: 1% up to $200,000, 2% to $2,000,000, 3% above, plus 2% on residential value over $3,000,000. First-time buyers: full exemption up to $500,000, up to $8,000 off up to $835,000, phasing out by $860,000 (rules for homes registered from April 1, 2024). Estimates only; your lender and lawyer will confirm.