Every Fraser Valley buyer number, one tool per page.
Twenty-five calculators a first-time or move-up buyer in the Fraser Valley actually uses mortgage payment, affordability, BC Property Transfer Tax with both exemptions, CMHC insurance, GST on new homes, closing costs, FHSA, RRSP HBP, rent vs buy, refinance break-even, and the strategy math. Each calculator has its own page so you can pull up one number without scrolling through the other twenty-four.
Not sure where to start? The first-time buyer guide walks through each program, then links to the calculators that do the math for it.
Monthly payment, what you can afford, what income you need, and the stress-test math.
Monthly principal-and-interest payment for any price, rate, down payment, and amortization.
Maximum purchase price based on household income, down payment, and existing debts.
Reverse calculator, the household income a lender needs to see for a target price.
What the OSFI qualifying rate does to your maximum mortgage, contract rate plus 2% or 5.25%, whichever is higher.
What 5%, 10%, and 20% really mean at Fraser Valley prices, and the federal minimum tiers.
High-ratio mortgage insurance premium by loan-to-value, what insured purchases cost vs putting 20% down.
Property Transfer Tax, first-time buyer + newly built exemptions, GST, closing costs.
The BC PTT every buyer pays at closing, 1% / 2% / 3% / 5% bracketed by price, with both exemption rules.
BC first-time buyer Property Transfer Tax exemption, full up to $835,000 fair market value, phase-out to $860,000.
BC PTT exemption for newly built homes, full up to $1.1M fair market value, phase-out to $1.15M.
Federal 5% GST on newly built homes, plus the New Housing Rebate calculation up to $450,000.
Everything beyond the down payment, PTT, legal fees, inspection, title insurance, strata documents, adjustments.
The full cheque you write at the notary, down payment plus all closing costs and adjustments in one number.
Annual municipal property tax estimate by Fraser Valley city, Surrey, Langley, Abbotsford, Chilliwack, Maple Ridge, Mission.
Amortization, accelerated payments, prepayment savings, equity, refinance break-even, rent vs buy.
Full payment schedule by year, principal, interest, and remaining balance for the life of a mortgage.
How much an accelerated bi-weekly payment saves vs monthly, and how many years it shaves off your amortization.
Interest saved and years shaved off when you put a lump sum straight against principal, within your lender's annual prepayment limit.
Total cost of renting vs buying over 5 years, including ownership carry, appreciation, and the rent counterfactual.
Projected home equity over time from principal pay-down plus modeled appreciation, paired with an invest-the-down-payment alternative.
Estimated mortgage break penalty, IRD vs three months' interest, for selling, refinancing, or switching lenders mid-term.
Months until a refinance pays for itself, break penalty plus appraisal plus legal vs the lower-rate savings.
Weighted blended rate when you increase a mortgage mid-term, your old rate blended with today's rate on new money.
How a monthly strata fee shrinks the mortgage you qualify for, half of strata is added to debt-service ratios by most lenders.
How car loans, credit card balances, and student debt reduce the maximum price a lender will approve.
RRSP Home Buyers' Plan, FHSA, strata fee impact, debt impact, blended rates, total cash to close.
The calculators give you the numbers. These guides explain the rules behind them.
- BC first-time buyer PTT exemption how the $8,000 savings works and who qualifies
- Mortgage stress test explained OSFI B-20 qualifying rate in plain English
- RRSP Home Buyers' Plan (HBP) how to borrow up to $60,000 from your RRSP tax-free
- First-time buyer timeline week-by-week guide from pre-approval to possession
- BC first-time buyer playbook every program and tax break in one place
Frequently asked questions
What calculators do first-time home buyers in BC need?
- We suggest first-time buyers in BC start with five FRIVE calculators. The mortgage payment calculator shows your monthly payment. The affordability calculator shows the highest price your income supports after the mortgage stress test. The BC Property Transfer Tax calculator applies the first-time buyer and newly built home exemptions. The closing costs calculator adds up the cash you need on completion day, and the FHSA calculator covers the First Home Savings Account.
How do I calculate the minimum down payment for a Fraser Valley home?
- The minimum down payment in Canada is 5% of the first $500,000 of the price and 10% of the portion between $500,000 and $1.5 million, according to the Financial Consumer Agency of Canada. A home priced at $1.5 million or more needs 20% down. For a $700,000 townhouse in Surrey or Langley, that is $25,000 plus $20,000, so the minimum is $45,000. Closing costs are paid on top of the down payment.
How do lenders decide how much income I need for a Fraser Valley home?
- Lenders in Canada check that you could still make your mortgage payments at a higher interest rate, a rule called the mortgage stress test. The test rate is the higher of your contract rate plus 2% or 5.25%, for insured and uninsured mortgages, according to OSFI and the Department of Finance. Your other monthly costs and debts also change the result, so the income needed differs from buyer to buyer. The FRIVE income required calculator runs the test for any price and down payment.
How does the BC Property Transfer Tax first-time buyer exemption work?
- A qualifying first-time buyer in BC pays no Property Transfer Tax on the first $500,000 of a home worth $835,000 or less, which saves up to $8,000, according to the BC government. A partial exemption applies between $835,000 and $860,000. To qualify, you must be a Canadian citizen or permanent resident, meet the BC residency rules, and never have owned an interest in a principal residence anywhere in the world. A separate exemption covers newly built homes worth up to $1,100,000.
Which calculator shows my total closing costs in BC?
- The FRIVE closing costs calculator adds up the costs of completing a BC purchase beyond the down payment: Property Transfer Tax, legal or notary fees, the home inspection, title insurance, strata documents, and the property tax and utility adjustments. It gives one total for the extra cash you need on completion day. The total cash to close calculator then adds your down payment, so you see the full amount you pay at completion.
How much can I put into a First Home Savings Account?
- You can put up to $8,000 a year into a First Home Savings Account, with a lifetime limit of $40,000, according to the Canada Revenue Agency. Your contributions can be deducted from your taxable income, and a qualifying withdrawal to buy your first home is not taxed. The FRIVE FHSA calculator works through the numbers for your savings plan.
How much can I take out of my RRSP to buy a first home?
- The Home Buyers' Plan lets a first-time buyer withdraw up to $60,000 from their RRSPs to buy or build a qualifying home, according to the Canada Revenue Agency. The withdrawal is paid back into your RRSP over a 15-year repayment period. The FRIVE Home Buyers' Plan calculator shows what the withdrawal adds to your down payment.
How much does CMHC mortgage insurance cost?
- CMHC mortgage insurance costs a percentage of your mortgage that depends on the size of your down payment, according to CMHC's premium table. With 5% to 9.99% down the premium is 4.00% of the loan, with 10% to 14.99% down it is 3.10%, and with 15% to 19.99% down it is 2.80%. You typically need this insurance when your down payment is under 20%, according to the Financial Consumer Agency of Canada. The FRIVE CMHC calculator applies the right rate to your price and down payment.
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