First Time Home Buyer Calculator
See your minimum down payment, land transfer rebates, and the government programs built for first-time buyers.
Type exact values (cents included) or drag a slider to get close. To fine-tune, click the slider and press Left arrow keyRight arrow key on your keyboard: each press moves mortgage amounts by $100 and interest rates by 0.01%.
Type an exact value from $200,000 to $2,000,000. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of $100.
Stack the FHSA, HBP and rebates together — most first-time buyers leave money on the table. I'll walk you through all of it.
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Get Exact Numbers — Free CallHow the First Time Home Buyer Calculator Works
First-time buyers in Canada have access to rules and programs that don’t apply to repeat buyers — a tiered minimum down payment, land transfer tax rebates, and tax-advantaged savings accounts.
This calculator estimates your minimum down payment and rebates for a given price, and points to the two biggest savings programs available: the FHSA and the RRSP Home Buyers’ Plan.
4 Steps to Your Results
Minimum down payment is tiered: 5% on the first $500,000, 10% on the portion from $500,000 to $1.5 million, and 20% above $1.5 million.
Ontario buyers outside Toronto get the provincial land transfer tax rebate; Toronto buyers can stack an additional municipal rebate.
Calculated automatically using the tiered rule above for your specific price.
Your combined land transfer tax rebate, plus FHSA and Home Buyers’ Plan contribution room.
On a $650,000 home in Ontario outside Toronto, the minimum down payment is $40,000 — 5% of the first $500,000 ($25,000) plus 10% of the remaining $150,000 ($15,000).
As a first-time buyer, you could claim up to $4,000 in Ontario land transfer tax rebates on top.
Beyond that, the FHSA offers up to $40,000 in tax-free contribution room, and the RRSP Home Buyers’ Plan allows up to $60,000 per person — stacking both can meaningfully boost your available down payment.
Frequently Asked Questions
For homes up to $500,000, it’s 5%. From $500,000 to $1.5 million, it’s 5% on the first $500,000 plus 10% on the remainder. Above $1.5 million, 20% is required.
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