Mortgage Payment Calculator
Estimate your regular payment based on price, down payment, rate, and amortization. Payments use Canadian semi annual compounding.
Monthly payment
$0
Mortgage amount$0
Down payment$0
Total interest (amortization)$0
Your payment is the amount you pay each period toward principal and interest. A larger down payment or shorter amortization raises the payment but lowers the total interest you pay over the life of the mortgage.
Estimate only. Figures use Canadian semi annual compounding and assume a constant rate. Your lender may calculate differently. Property taxes, condo fees, and insurance are not included.
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Affordability Calculator
Estimate the home price you may qualify for based on income, debts, and down payment. This uses standard lending ratios and the stress test qualifying rate.
Estimated maximum price
$0
Maximum mortgage$0
Estimated payment (P&I)$0
Qualifying rate used0%
Lenders test your application at a qualifying rate, the greater of your contract rate plus two percent or 5.25 percent. Gross debt service and total debt service ratios cap how much of your income can go to housing and total debt. Lowering monthly debts or adding to your down payment usually increases the price you qualify for.
Estimate only. Uses approximate GDS 39 percent and TDS 44 percent ratios with a heating allowance, and does not account for default insurance limits, condo fees, or individual lender policy. Your actual approval may differ.
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Land Transfer Tax Calculator
Estimate Ontario land transfer tax on your purchase, with the optional City of Toronto municipal tax and first time buyer rebates.
Amount owing after rebate
$0
Ontario tax$0
Toronto municipal taxNot applicable
Total tax before rebate$0
First time buyer rebate$0
Amount owing after rebate$0
Ontario charges land transfer tax on a sliding scale based on the purchase price. Homes in Toronto pay a second municipal tax of a similar amount. Qualifying first time buyers can claim a rebate of up to 4,000 dollars provincially and up to 4,475 dollars in Toronto.
Estimate only. Rebate eligibility and the exact tax owing are confirmed by your lawyer at closing. Special rules apply to non residents and certain transfers.
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CMHC Insurance Calculator
Estimate your default insurance premium when your down payment is less than twenty percent. The premium is added to your mortgage.
Estimated premium
$0
Loan to value0%
Premium rate0%
Total insured mortgage$0
Premium is added to your mortgage.
Estimate only. Premium rates are set by the insurer and depend on your loan to value and product. In Ontario, provincial sales tax of eight percent on the premium is payable at closing and cannot be added to the mortgage. Homes priced over 1.5 million dollars are not eligible for default insurance.
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Mortgage Penalty Estimator
Estimate the cost of breaking your mortgage early. Variable rate penalties are usually three months interest. Fixed rate penalties are the greater of three months interest or an interest rate differential.
Estimated penalty
$0
Method usedCalculating
IRD comparison rate0%
Rate differential0%
Interest rate differential$0
Three months interest$0
The interest rate differential compares your current rate to a rate the lender could charge today for the time left on your term. The bigger the gap and the longer the remaining term, the larger the penalty. Many bank penalties are calculated using posted rates, which can make them much higher than this estimate.
Estimate only. Lenders calculate penalties in different ways, often using posted or discounted rate comparisons that this tool does not replicate. Always request an exact payout figure from your lender before making a decision.
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