How do I estimate the equity available for a move-up purchase?

Start with the expected sale price of the current home, then subtract the mortgage payout and selected selling costs. Add any other cash available to compare the result with the next-home down payment and closing-cash requirement.

Can I use all of my home equity as the next down payment?

Not necessarily. Actual proceeds depend on the final sale, lender payout, legal adjustments, selling costs and timing. You may also choose to keep some cash as a reserve rather than use every dollar as a down payment.

What if my current home closes after the next home?

The timing can create a temporary funding gap. Deposits, bridge financing, lender requirements and the conditions of both transactions should be coordinated before relying on sale proceeds that have not yet closed.

Does a move-up buyer still need closing cash beyond the down payment?

Yes. Land transfer tax, legal fees, adjustments, moving costs, mortgage-insurance sales tax where applicable and other transaction-specific amounts can require cash beyond the down payment.

Does this calculator provide a mortgage approval?

No. The payment is an illustration using the price, down payment, rate and amortization entered. Qualification, stress testing, insurance eligibility and lender underwriting remain separate.

Should I sell first or buy first when moving up?

There is no single answer for every seller-buyer. Market conditions, financing, deposit requirements, closing flexibility, bridge options and your tolerance for transaction risk all matter.

Move-Up Buyer Calculator

Current home

Expected sale price

Mortgage payout

Selling costs

Use your own negotiated sale-cost estimate.

Next home

Target purchase price

Desired down payment

Other cash already available

Estimated buyer closing costs

Mortgage rate

Amortization

Updated automatically. Use the sale and purchase numbers you actually want to coordinate.

Move-up planning questions

How is current-home equity calculated here?

Expected sale price minus the entered mortgage payout and selling costs. It is a planning estimate, not a lawyer’s statement of proceeds.

Does the next-home cash need include every closing cost?

No. Enter a realistic closing-cost amount for your own transaction. Use the Cash to Close Calculator if you want a more detailed Ontario or Toronto purchase-cost estimate.

Open Cash to Close →

What if I need the sale proceeds before my current home closes?

That is a timing and financing issue. Deposits, bridge financing and lender requirements should be confirmed before committing to a purchase that depends on future sale proceeds.

Is the new mortgage payment a qualification result?

No. It is only a payment illustration. Use the Mortgage Qualification Calculator for a separate lender-style GDS/TDS and stress-test scenario.

Open Mortgage Qualification →

Estimated equity after entered selling costs—Current-home sale price less mortgage payout and entered selling costs.

—modeled funding

Down payment—

Buyer closing costs—

Estimated new mortgage—

Cash remaining after selected needs—

Cash available from equity + other cash—

Down payment + closing cash needed—

Estimated cash gap / surplus—

General minimum down payment—

Estimated financed insurance premium—

Estimated new mortgage—

Estimated new mortgage payment—

Plan the sale and purchase as one cash-flow problem

A move-up purchase depends on more than the headline equity in the current home. The actual bridge includes the mortgage payout, selling costs, deposits, buyer closing cash, the amount of equity you choose to roll forward and the financing available for the next property. Modeling the two transactions together helps expose a cash gap before it becomes a closing-date problem.

Next planning step

Pressure-test the next home’s monthly cost.

Once the equity and down-payment path makes sense, test the new home price against after-tax income and the rest of your monthly household expenses.

Home Affordability & Monthly Cost →Review My Move-Up Scenario

Common move-up buyer questions

Quick answers before you send your scenario.

Can I count all expected sale equity before my home actually sells?

Treat expected equity as a planning estimate until the sale closes. Final sale price, lender payout, legal adjustments and selling costs determine the actual proceeds available.

What is bridge financing?

Bridge financing can temporarily cover a timing gap when a purchase closes before sale proceeds are available. Eligibility, cost, security and maximum bridge period depend on the lender and the transactions.

Should I keep some sale proceeds as a reserve?

That is a personal planning decision. A larger down payment can reduce the mortgage, while keeping cash available can protect liquidity for closing surprises, repairs, moving and other post-purchase costs.

Does the down payment shown here have to meet Canada’s minimum-down-payment rules?

Yes. The calculator displays the general minimum for the target price and warns when the entered down payment falls below the planning rule. Actual insured-mortgage eligibility still needs lender confirmation.

What purchase costs should a move-up buyer plan for?

Depending on the transaction, cash can include land transfer tax, legal fees, adjustments, moving expenses, mortgage-insurance sales tax and other property-specific costs in addition to the down payment.

Estimate Cash to Close →

Should I sell first or buy first?

That depends on market conditions, financing strength, closing flexibility, deposit requirements and your tolerance for carrying or timing risk. The calculator organizes the numbers but does not choose the transaction order for you.

Private Real Estate Request

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