This mortgage purchase calculator for BC shows your total monthly cost, minimum down payment, CMHC insurance, and full cash to close, including the BC property transfer tax exemptions most calculators miss.
Frequently asked questions
What is the minimum down payment in BC?
5% of the first $500,000 and 10% of the portion up to $1.5 million. From $1.5 million the minimum is 20%. Under 20% down adds default insurance, which this calculator prices automatically.
What does cash to close include?
Your down payment plus property transfer tax, legal fees, title insurance, appraisal, inspection, and adjustments. First-time buyers are often exempt from PTT up to $835,000, which the calculator applies.
Why can 19.99% down sometimes beat 20%?
Insured files get lower rates because the premium removes the lender’s risk. Sometimes the rate saving outweighs the premium cost. The comparison calculator shows both paths side by side.