Home/Calculators
Canadian, current, and honest
Calculators
CMHC premiums, Ontario land transfer tax, the federal stress test — and semi-annual compounding, the way Canadian mortgages actually work.
Mortgage payment
Estimated monthly payment
—
- Down payment
- —
- Mortgage before insurance
- —
- CMHC premium (financed)
- Total mortgage
- —
- Principal & interest
- —
- Condo / maintenance
- —
CMHC mortgage insurance
If you put down less than 20%, your mortgage must be insured. The premium is added to the loan; the Ontario PST on it is not — you pay that at closing.
Insurance premium
- Premium rate
- —
- Loan-to-value
- —
- Minimum down payment
- —
- Mortgage before premium
- —
- Total mortgage
- —
- Ontario PST on premium (due at closing)
- —
Land transfer tax
Ontario charges land transfer tax on closing. The City of Toronto charges its own on top — Mississauga, Oakville and Brampton do not.
Land transfer tax due
—
- Ontario land transfer tax
- —
- Toronto municipal LTT
- —
- Ontario first-time rebate
- —
- Toronto first-time rebate
- —
What can I afford?
Lenders test you at the stress-test rate and cap your housing costs at 39% of gross income (GDS) and your total debts at 44% (TDS). So do we.
You could buy up to
—
- Total mortgage (incl. premium)
- —
- You must qualify at
- —
- Payment at the qualifying rate
- —
- Payment at your actual rate
- —
- GDS room (39%)
- —
- TDS room (44%)
- —
Want the real number?
A calculator cannot negotiate for you.
Send us what you are working with and we will introduce you to a mortgage professional who will actually pick up the phone.