Affordability and transfer tax calculator

How the calculator works

The stress test

Federally regulated lenders qualify you at the higher of your contract rate plus 2 percentage points or 5.25%. The calculator uses the common guidelines of housing costs (mortgage payment, property tax, heat and half of strata fees) at no more than 39% of gross income, and all debt payments at no more than 44%. Lenders vary and look at credit, employment and more; a pre-approval is the real answer.

Down payment and insurance

The minimum down payment is 5% of the first $500,000 and 10% of the portion from $500,000 up to $1.5 million; at $1.5 million or more it's 20%. With less than 20% down, mortgage default insurance applies, and the calculator adds a standard premium (2.8% to 4.0% of the loan, depending on your down payment) to the mortgage. Insured 30-year amortizations are generally limited to first-time buyers and buyers of new builds; ask your lender.

Transfer tax

BC charges 1% on the first $200,000, 2% to $2 million, 3% above that and a further 2% on residential value above $3 million. The first-time buyer exemption removes tax on the first $500,000 (worth up to $8,000) at prices up to $835,000, phasing out to $860,000. The newly built home exemption removes all of it up to $1.1 million, phasing out to $1.15 million. Foreign buyers pay an additional 20% in the Regional District of Central Okanagan. Details and eligibility in the buying guide.

WFN leaseholds

Leasehold interests on Westbank First Nation lands are registered in the WFN Lands Registry rather than the BC Land Title Office, so BC transfer tax generally doesn't apply. Treat that as something to confirm with your lawyer, and remember lenders assess leaseholds differently. See the leasehold chapter.

What your money buys here

In August 2026 the Central Okanagan benchmark was $1,056,700 for a single-family home, $698,600 for a townhouse and $465,700 for a condo (Association of Interior REALTORS®). West Kelowna prices vary widely around those figures by neighbourhood, view and whether it's leasehold. See the market chapter.

Sources: BC property transfer tax, first-time buyers, newly built homes, additional PTT. Stress test, down payment and insurance premiums reflect federal rules as generally published; confirm with your lender.

Estimate only, not financial, legal or tax advice. Verify with your lender, lawyer or notary before relying on these numbers.