Free Tool
Monthly payments, CMHC insurance, Ontario Land Transfer Tax, and total closing costs — all calculated for you.
Enter a home price to see your calculations.
Want the full picture, including your mortgage payment?
Enter a home price to see your land transfer tax.
Enter an assessed value to estimate property tax.
Canadian mortgages compound semi-annually (not monthly). This calculator converts the semi-annual rate to a monthly equivalent before calculating your payment.
Required when your down payment is less than 20%. Rates range from 2.80% to 4.00% of the mortgage amount, added to your mortgage balance.
Calculated on a sliding scale up to 2.5% for homes over $2M. First-time buyers receive a rebate of up to $4,000 (Ontario) and up to $4,475 (Toronto).
Our estimate includes LTT, legal fees (~$1,800), title insurance, home inspection (~$600), and adjustments. Budget 1.5%–4% of the purchase price.
5% for homes under $500K; 10% on the portion between $500K–$999,999; 20% for homes $1M and over. A home priced at $800K requires a minimum $55,000 down.
Yes — the RRSP Home Buyers' Plan lets first-time buyers withdraw up to $60,000 each ($120K per couple).
The Tax-Free First Home Savings Account (FHSA) allows first-time buyers to save up to $8,000/year (lifetime $40,000) with full tax deductibility and tax-free growth. Combined with the HBP, a couple can access up to $110K tax-advantaged.
Canadian lenders qualify buyers at the higher of their contract rate + 2%, or 5.25%. This means if your rate is 4.39%, you're tested at 6.39%. Use this calculator to estimate your payment and start your buyer journey to see your true qualification range.