CANADA · CAD WORKSHEET
Closing cash & reserves
Find the cash needed to close and the buffer left for the months that follow.
Starting numbers are fictional examples, not current market quotes. CAD only; no currency conversion occurs when you switch editions.
Your assumptions
Change a number. The working updates here.
Home & loan
Housing costs & income
Closing funds & buffer
What should I include?
Canadian default-insurance premiums are not quoted automatically. Enter a lender-confirmed financed premium if applicable; premium taxes and other closing charges belong in closing costs. GDS uses the higher qualifying P&I, property taxes, heat and half condominium dues in this simplified illustration.
Annual income must be income the lender can actually recognize to approximate qualification. Leave out account numbers and personal documents.
Down payment plus the closing costs and prepaids entered.
- Total housing cash cost / month
- $3,787.82
- Principal including financed fees
- $585,000
- GDS at illustrated qualifying rate
- 41.6%
- TDS at illustrated qualifying rate
- 45.5%
- Cash left after closing
- $23,000
- Additional cash for chosen housing buffer
- $0
Price-tier minimum: $40,000. Lender, insurer and property eligibility still apply. Qualifying-rate illustration: 6.50%. No approval result is inferred.
Default-insurance premium is not included. Add a lender- or insurer-confirmed financed premium to principal if applicable, and include any premium taxes in closing costs.
See every method and limitationSEE THE BALANCE CHANGE
Principal repaid. Interest visible.
Constant rate for the whole illustration.
Your actual rate can change at renewal.
Read the annual figures
| Year | Balance | Principal repaid | Interest paid |
|---|---|---|---|
| 1 | $571,963.49 | $13,036.51 | $25,817.29 |
| 2 | $558,333.74 | $26,666.26 | $51,041.34 |
| 3 | $544,083.75 | $40,916.25 | $75,645.15 |
| 4 | $529,185.29 | $55,814.71 | $99,600.50 |
| 5 | $513,608.87 | $71,391.13 | $122,877.87 |
| 6 | $497,323.62 | $87,676.38 | $145,446.42 |
| 7 | $480,297.28 | $104,702.72 | $167,273.89 |
| 8 | $462,496.15 | $122,503.85 | $188,326.56 |
| 9 | $443,884.95 | $141,115.05 | $208,569.16 |
| 10 | $424,426.82 | $160,573.18 | $227,964.83 |
| 11 | $404,083.23 | $180,916.77 | $246,475.04 |
| 12 | $382,813.88 | $202,186.12 | $264,059.49 |
| 13 | $360,576.63 | $224,423.37 | $280,676.05 |
| 14 | $337,327.46 | $247,672.54 | $296,280.68 |
| 15 | $313,020.30 | $271,979.70 | $310,827.32 |
| 16 | $287,607.02 | $297,392.98 | $324,267.84 |
| 17 | $261,037.27 | $323,962.73 | $336,551.89 |
| 18 | $233,258.43 | $351,741.57 | $347,626.86 |
| 19 | $204,215.48 | $380,784.52 | $357,437.71 |
| 20 | $173,850.90 | $411,149.10 | $365,926.93 |
| 21 | $142,104.53 | $442,895.47 | $373,034.36 |
| 22 | $108,913.51 | $476,086.49 | $378,697.14 |
| 23 | $74,212.09 | $510,787.91 | $382,849.53 |
| 24 | $37,931.54 | $547,068.46 | $385,422.78 |
| 25 | $0.00 | $585,000.00 | $386,345.03 |
A starting point, with clear limits.
This Canadian worksheet uses nominal semiannual interest converted to monthly periods. GDS/TDS is an illustrative CMHC-style calculation; the scope of stress testing and insurer or lender rules must be confirmed. It excludes automatic insurance premiums, premium taxes, penalties and lender-specific debt or rental treatments.
Round-off, payment dates and contract details can change actual results. The reserve target covers entered housing costs only, not every household expense. Plans remain on this browser until you explicitly download, print or share them.