BC Down Payment Planner
Calculate your down payment requirements, insurance premiums, and monthly payments for BC properties using current Canadian mortgage rules.
Rates and rules current as of September 4, 2025 • For illustrative purposes only
🏠 Down Payment Planner
Calculate your down payment requirements and monthly payments for BC properties
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Enter your purchase price and down payment details to see your personalized results.
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Related Resources & Guides
📖 Week 1 Playbook
Complete guide to down payment planning in BC, including first-time buyer programs and strategies.
Read the Complete Guide →📚 Down Payment Resources
Comprehensive resource page covering Canadian mortgage rules, BC-specific programs, and expert tips.
Explore Resources →📄 Reference Chart
Printable down payment tiers reference chart with CMHC premium rates and closing cost estimates.
Download PDF →Need to calculate total closing costs?
Try our Closing Cost Estimator →Frequently Asked Questions
What is the minimum down payment required in Canada?
For homes under $500,000, the minimum down payment is 5%. For homes between $500,000 and $1.5 million, it's 5% on the first $500,000 and 10% on the remaining amount. For homes over $1.5 million, the minimum is 20%.
Do I need mortgage insurance in BC?
If your down payment is less than 20% of the home's purchase price, you'll need mortgage default insurance (CMHC, Genworth, or Canada Guaranty). This protects the lender if you default on your mortgage.
What are the current CMHC premium rates?
As of September 4, 2025, CMHC premiums range from 2.40% to 4.00% of the mortgage amount, depending on your loan-to-value ratio and amortization period. 30-year amortizations have an additional 0.20% premium.
What closing costs should I expect in BC?
Typical closing costs in BC include legal fees ($1,500), home inspection ($600), appraisal ($400), title insurance ($300), and property transfer tax (1% of purchase price). First-time buyers may be eligible for rebates.
How much can first-time buyers save in BC?
First-time home buyers in BC can receive up to $8,000 in property transfer tax rebate for homes under $500,000, and partial rebates for homes up to $525,000.
Important Disclaimer
This calculator is for illustrative purposes only and should not be considered as financial advice. Mortgage rates, insurance premiums, and closing costs are subject to change. Current rates and rules are as of September 4, 2025. Final approval depends on credit score, employment history, debt-to-income ratios, and lender criteria. Please consult with a licensed mortgage professional for personalized advice and current rates.