Buying Calculator

Minimum Cash Needed Calculator

Thinking about buying a home? See the approximate minimum down payment and cash you may need to complete the purchase.

Purchase Price

Buying in Toronto?

First-Time Homebuyer?

Your minimum down payment is calculated automatically using Canadian mortgage rules.

Minimum Cash Needed

$59,975

$750,000 purchase · minimum down payment plus major closing costs

Minimum Down Payment

Purchase Price$750,000

Minimum Down Payment$50,000

Minimum Down Payment %6.7%

Estimated Closing Costs

Ontario Land Transfer Tax$11,475

First-Time Buyer Refund/Rebate-$4,000

Estimated Legal Fees$2,500

Estimated Closing Costs$9,975

Minimum Cash Needed

Minimum Down Payment$50,000

Estimated Major Closing Costs$9,975

Minimum Cash Needed$59,975

Minimum down payment uses Canadian mortgage rules: 5% on the portion up to $500,000, 10% on the portion between $500,000 and $1,500,000, and 20% at $1,500,000 or more.

Buying in Durham?

Want Help Planning Your Purchase?

Kenneth will map out the cash, timing and strategy for your Durham Region purchase.

Talk to Kenneth Estimate My Mortgage Payment

Estimates are provided for planning purposes only. Tax rules, eligibility and transaction circumstances can affect the final amount payable. Confirm your actual Land Transfer Tax and eligibility for any first-time buyer refund/rebate with your real estate lawyer.