08/24/2026
Here’ the cost of buying a $550,000 🏡 in Canada:
• Down Payment - $30,000 (Min Down)
• CMHC insurance - $20,800
• Closing Costs - $12,500
• Mortgage - $2,830.08/month (at 3.95% int)
• Property Tax - $350/month
• Home Insurance - $200/month
• Utilities - $300/month
Total Housing Cost - $3,680/month
Funds req to close - $42,500
How much income you Actually need to Afford?
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