Canada
First-Time Home Buyer
Free Canada calculator designed to help users make accurate financial decisions using local standards.
Help & FAQs
Frequently Asked Questions
Clear answers to common questions to help you use this calculator confidently.
What is CMHC insurance?
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What is CMHC insurance?
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Canada Mortgage and Housing Corporation (CMHC) insurance is required when down payment is less than 20%. It protects the lender if you default, and the cost is added to your mortgage.
What are closing costs?
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What are closing costs?
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Closing costs include land transfer tax, legal fees, property inspections, title insurance, and property tax adjustments - typically 3-4% of home price.
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