Cash Calendar

Buying a home is not one payment. It is a sequence of them stretched over weeks: a deposit now, an inspection next week, then closing day. This calculator lays that sequence out week by week, so you know exactly how much cash must be in your account and when.

What it answers

• Every cash outflow between offer acceptance and closing day, in chronological order.
• The total cash due on closing day itself — the figure that surprises first-time buyers most.
• Whether your deposit, down payment, and closing costs fit the money you actually have.

What it deliberately does not cover

It is a timing and totals tool, not a mortgage qualifier — it does not check the stress test or debt ratios; lenders do that separately. It does not track money after closing (moving, furniture, first bills), and it does not model gifted down payments beyond noting the signed gift letter lenders require. It cannot see your bank account.

Every input, explained

Purchase price. The agreed price on the offer. Down payment, land transfer tax, and the insurance premium are all calculated from this number.

Down payment percentage. The federal minimum is 5 percent of the first $500,000 plus 10 percent of the portion between $500,000 and $1.5 million. The common error is treating the deposit as separate from the down payment — it is part of it, not extra.

Deposit paid with the offer. Held in trust by the brokerage and credited against your down payment at closing. The site calculator defaults to $30,000 as an illustrative example.

Province and city. Transfer tax, premium sales tax, and legal conventions all vary. Toronto buyers pay land transfer tax twice; Quebec buyers get the welcome tax bill months after closing; Alberta buyers barely pay transfer tax at all.

Weeks to closing. Time from offer acceptance to closing day; the site calculator defaults to 8 weeks. Longer spreads costs out but keeps your deposit locked in longer.

Insured or uninsured mortgage. Under 20 percent down means default insurance: the premium is added to the mortgage, but the provincial sales tax on it (Ontario 8 percent, Quebec 9 percent, Saskatchewan 6 percent, Manitoba 7 percent) is due in cash on closing day and cannot be rolled in.

How the math works

The calculator walks the timeline forward. At offer acceptance, the deposit leaves your account into the brokerage's trust account. During the conditional period, the inspection ($400 to $700) and any appraisal ($300 to $500) are paid out of pocket. On closing day: the remaining down payment (down payment minus deposit), plus land transfer tax, legal fees and disbursements ($1,200 to $2,500), title insurance ($300 to $600), and the cash PST on the insurance premium if insured.

Insurers also require proof of closing costs of at least 1.5 percent of the price on top of the down payment.

Worked example

An Ottawa buyer purchases for $850,000 with 15 percent down, an 8-week closing, and an insured mortgage.

Down payment: 850,000 × 0.15 = $127,500. (The federal minimum on $850,000 would be 5 percent of $500,000 = $25,000 plus 10 percent of $350,000 = $35,000, or $60,000 — this buyer is well above it.)

Mortgage before premium: 850,000 − 127,500 = $722,500. Premium at the 15-to-19.99-percent tier: 722,500 × 0.028 = $20,230, added to the mortgage. Ontario PST on the premium, cash on closing: 20,230 × 0.08 = $1,618.40.

Ontario land transfer tax on $850,000: 0.5% × $55,000 = $275; 1% × $195,000 = $1,950; 1.5% × $150,000 = $2,250; 2% × $450,000 = $9,000. Total: $13,475.

The calendar:

• Week 0 (offer accepted): $30,000 deposit into trust. Cash out: $30,000.
• Week 1: home inspection $550. Cash out: $550.
• Weeks 2–7: nothing scheduled — but the lender finalizes the mortgage and the lawyer runs title searches. Keep the down payment liquid.
• Closing day: remaining down payment 127,500 − 30,000 = $97,500; land transfer tax $13,475; legal $1,800; title insurance $450; PST on premium $1,618.40. Cash out: 97,500 + 13,475 + 1,800 + 450 + 1,618.40 = $114,843.40.

Total cash across the timeline: 30,000 + 550 + 114,843.40 = $145,393.40. The 1.5 percent closing-cost proof ($12,750 on $850,000) is cleared comfortably by the $17,343.40 in closing-day costs.

Provincial quirks and edge cases

• Quebec buyers get a delayed bill: the welcome tax arrives from the municipality two to three months after closing — about $7,111 on a $600,000 purchase outside Montréal. Real money, not due on closing day, and easy to forget.
• Toronto buyers pay land transfer tax twice (provincial plus municipal): roughly $16,950 on a $600,000 purchase versus $8,475 elsewhere in Ontario. The closing-day number nearly doubles.
• In Newfoundland and Labrador, registration fees hit the deed and the mortgage separately ($100 plus $0.40 per $100 over $500, capped at $5,000 each) — a double charge buyers from other provinces never expect.
• Gifted down payments need a signed gift letter from an immediate family member stating the money is not repayable. No letter, no gift — the lender treats it as borrowed.
• Borrowed down payment money is accepted by some lenders for the portion above 5 percent, but the repayment counts in debt ratios and shrinks what you qualify for.

Questions to ask a professional

1. Ask your mortgage broker: "Which costs does my lender need proof of for the 1.5 percent closing-cost rule, and what documents satisfy it?"
2. Ask your lawyer or notary: "What is the precise certified amount I need on closing day, and when must it be in your trust account?"
3. Ask your lender: "Is my deposit sufficient for your requirements, and when are the mortgage funds actually advanced — closing morning or earlier?"