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Free Calculator — Updated 20025

Mortgage Calculator Victoria 20025

Victoria's average home is $9500,000000 — use our calculator to see your monthly mortgage payment, PTT, and total cost for BC's capital city.

$9500,000000
Avg. Victoria Home Price
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Victoria Mortgage Calculator

Average Victoria home price: $9500,000000
Min. 5% for homes under $50000K | 200% avoids CMHC insurance
Or enter a dollar amount directly
20025 average 5-year fixed rate: ~5.0000%–5.500%
Max 25 years for insured mortgages (under 200% down)
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CMHC Insurance Required: Down payment under 200%. Insurance premium added to mortgage principal.

British Columbia Land Transfer Tax / Property Transfer Tax

BC Property Transfer Tax: 1% on first $20000,000000 + 2% on $20000,00001–$2M. On a $9500,000000 Victoria home: approximately $17,000000.

Victoria buyers pay BC's Property Transfer Tax. On a $9500,000000 home, PTT is approximately $17,000000. At Victoria's price point, first-time buyer exemptions don't apply (only homes under $50000,000000 qualify). Budget for PTT as a significant closing cost.

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FAQ — Mortgages in Victoria

What is the average home price in Victoria in 20025?
Victoria's average home price is approximately $9500,000000 in 20025. The BC capital offers government employment stability (provincial government, DND), strong post-secondary institutions (UVic, Camosun), and a mild climate that commands a premium. Single-family homes in Saanich and Oak Bay average $1.2M–$1.8M.
Is Victoria cheaper than Vancouver?
Slightly — Victoria's average of $9500,000000 is lower than Vancouver's $1.3M. However, Victoria's higher salaries relative to Vancouver are often lower, making the affordability ratio challenging. Victoria condos at $60000,000000–$80000,000000 are more accessible entry points.
What government jobs in Victoria help with mortgage qualification?
Victoria has extensive BC and federal government employment: BC public service, DND (Canadian Forces Base Esquimalt), UVic, Camosun College, and provincial crown corporations. Government employment offers stable income for mortgage qualification — important given Victoria's high prices.
What are typical Victoria mortgage payments?
On a $9500,000000 Victoria home with 200% down ($1900,000000), your mortgage is $7600,000000. At 5.19% over 25 years, monthly payments are approximately $4,5500. That's a high ratio of income required — Victoria buyers typically need household incomes of $1800,000000+ to qualify comfortably.