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Closing-Day Cash Calculator

BC Closing-Day Cash Calculator

Last reviewed by Bronson Job, REALTOR®Sources: BC.gov.ca, CMHC, BC PSTCC BY 4.0How we verify

Most BC buyers underestimate closing-day cash by $5,000-$15,000, almost always because they forgot the PST on their CMHC premium. The premium itself rolls into the mortgage; the 7% BC PST on it is cash, due at funding, and almost never quoted in the pre-approval letter. This calculator pulls every line item — PTT, FTHB / Newly Built / 20% foreign-buyer math, legal, title, adjustments, CMHC PST — into one defendable number you can hand to your notary.

The Statement of Adjustments has 18-22 line items. The pre-approval letter has 1. The gap is the cash you owe your notary at completion.
— BC Notaries Public Society — typical closing checklist

Calculate

Buyer profile (toggles affect PTT + APTT math)
Total cash required at completion
$333,000
Down payment
$300,000
BC PTT (gross)
$28,000
BC PTT (net of exemption)
$28,000
Legal / notary
$1,500
Title insurance
$300
Adjustments — buyer reimburses seller (prepaid taxes / strata / utilities)
$1,200
Home inspection
$500
Moving costs
$1,500
Closing costs subtotal (excludes down payment)
$33,000

Estimate only. Your notary or lawyer will produce the binding Statement of Adjustments on completion day. The PST-on-CMHC line item is the most-frequent omission in self-built closing budgets — it’s why your "5% down" deal needs ~6.5% in cash.

Reproduce this number7 steps
StepAmount
Down payment (cash to lender at funding)$300,000.00
BC Property Transfer Tax (bracket-rate) (bc.ptt.brackets)$28,000.00
Legal / notary fees$1,500.00
Title insurance$300.00
Property tax / strata / utility adjustments to seller$1,200.00
Home inspection$500.00
Moving costs (truck, packers, supplies)$1,500.00
Total$333,000.00

Computed from the BC Real Estate Codex · CC BY 4.0

Worked example — Walnut Grove townhouse, $950,000, 10% down

A first-time-buyer couple buying a Walnut Grove townhouse at $950,000 with 10% down ($95,000): the bracket-rate PTT comes to $17,000. They land in the FTHB phase-out band (price > $860K cap), so no FTHB exemption. The mortgage is $855,000 at 90% LTV — CMHC tier rate 3.10% — premium $26,505 (rolls into mortgage), but the BC PST on it is $1,855 cash on closing. Add $1,500 legal, $300 title, $1,200 adjustments, $500 inspection: closing costs land at ~$22,500. Total cash to close: ~$117,500, not the $95,000 their pre-approval letter implied.

That $22,500 gap is what trips up most BC FTHBs. The 7% PST on the CMHC premium alone ($1,855) is roughly 2% of the down payment — bigger than the inspection, the title insurance, and the adjustments combined. Brokers will quote you the headline premium without the PST line; ask for both before you anchor on a closing-day budget.

Related

Bronson Job, REALTOR®
Bronson JobREALTOR® · GVR Member #6015742 · FVREB Member #FJOBBR
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