Vancouver at $900,000 is above both British Columbia first-time exemption thresholds coded in the land-transfer helper: full exemption up to $835,000 and partial exemption up to $860,000. The function therefore returns a first-time rebate of zero on this resale-style calculation. The note in that function still mentions a separate newly built path up to $1.1 million. This page does not assume the home is newly built. The price is also above $500,000, so the minimum down payment is more than 5 percent, and the premium follows the tier for the down payment you actually use. Using the Desjardins 5-year fixed, insured contract rate of 4.14% as of 2026-09-03, a minimum down payment of $65,000, and a premium of $33,400, the insured mortgage is $868,400. The land-transfer result for a first-time buyer is $16,000 net. BC first-time buyers: full exemption up to $835,000, partial up to $860,000 (newly built homes up to $1.1M may also qualify). Typical property tax in the library is about $4,950 a year. With no other debts, the binding ratio is GDS and the gross income is about $188,955.
Rate sensitivity
Only the middle row is the lender sheet. The other contract rates are illustrative, so you can see the 5.25% floor and a higher contract rate. They are not quotes.
| Rate | Qualifying | Stress payment | Income |
|---|---|---|---|
| Illustrative 3.00% contract (floor applies) (illustrative) | 5.25% | $5,175 | $174,999 (GDS) |
| Minimum down payment, sheet rate | 6.14% | $5,629 | $188,955 (GDS) |
| Illustrative contract plus 1 point (illustrative) | 7.14% | $6,158 | $205,236 (GDS) |
Other monthly debts
Same minimum down payment and sheet rate. Debts of $0, $400, and $650 are scenarios, not a claim about Vancouver households.
| Debts | GDS income | TDS income | Binds |
|---|---|---|---|
| No other monthly debt | $188,955 | $167,483 | GDS |
| $400 other monthly debt | $188,955 | $178,392 | GDS |
| $650 other monthly debt | $188,955 | $185,210 | GDS |
Down payment
| Down payment | Premium | Mortgage | Income |
|---|---|---|---|
| 5% down ($45,000) — below the library minimum | $34,200 | $889,200 | $193,104 |
| 10% down ($90,000) | $25,110 | $835,110 | $182,316 |
| 20% down ($180,000) | $0 | $720,000 | $159,360 |
British Columbia example — Vancouver
First-time buyer land transfer tax from the library: $16,000 before rebate, $0 rebate, $16,000 net. BC first-time buyers: full exemption up to $835,000, partial up to $860,000 (newly built homes up to $1.1M may also qualify).
Property tax at the library's typical British Columbia rate of 0.55% is about $4,950 a year ($413 a month). That is a provincial benchmark in the code, not a Vancouver tax bill.
Frequently asked questions
- What income do you need for a $900,000 home in Vancouver?
- At the minimum down payment of $65,000, with heat of $100 a month, no condo fee, and no other debts, the stress-test income is about $188,955 a year. The contract rate is Desjardins 4.14% as of 2026-09-03. The qualifying rate is 6.14 percent. GDS is the ratio that binds.
- What down payment and insurance premium apply to $900,000 here?
- The library minimum down payment is $65,000. The CMHC premium at that down payment is $33,400 (4.00 percent of the amount borrowed when the down payment is under 20 percent). The insured balance is $868,400.
- What transfer tax and property tax does the library return for Vancouver?
- For a first-time buyer, net land transfer tax is $16,000. BC first-time buyers: full exemption up to $835,000, partial up to $860,000 (newly built homes up to $1.1M may also qualify). The typical provincial property-tax rate in the library is about $4,950 a year on this price. This example does not add Toronto municipal land transfer tax.
- How does a $400 monthly debt change the $900,000 Vancouver income?
- The same housing costs plus $400 of other monthly debt need about $188,955 of gross income. GDS binds in that row. TDS uses 44 percent and includes the debts. GDS stays at 39 percent and does not include them.