Toronto Mortgage Calculator

?
Enter the amount that you are planning on paying for the property
Property Value
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Option #1
Option #2
Option #3
Option #4
?
Enter the amount that you will pay upfront
toward the property to obtain a mortgage
Down Payment
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
Mortgage Insurance
+
$19,000
$13,950
$11,900
$0.00
?
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
Mortgage Required
=
$494,000
$463,950
$436,900
$400,000
?
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
Amortization Period
?
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
Select Province
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Mortgage Type
?
Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
Mortgage Term
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Mortgage Rate
Select
Select
Select
Select
STEP 3
Select one of the mortgage
rates currently available
?
Please select how often you would like
to make your mortgage payments.
Payment Frequency
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
Mortgage Payment
?
This is an estimate of how much you should expect
to spend upfront in order to make this purchase
Cash Needed
Down Payment
$25,000
$50,000
$75,000
$100,000
Mortgage Insurance PST
+
$1,520
$1,116
$952
$0
Lawyer Fee
+
$1,000
$1,000
$1,000
$1,000
Title Insurance
+
$500
$500
$500
$500
Land Transfer Tax
+
$12,950
$12,950
$12,950
$12,950
Total Cash Needed
=
$40,970
$65,566
$90,402
$114,450
First time home buyers in Toronto are eligible for a Land Transfer Tax rebate of up to $8,475

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

Toronto Mortgage Calculator Examples

Beautifully Renovated Semi-Detached; 3 Bedroom+ 4 Bedroom Basement Apartment With A Separate Entrance. Featuring Open Concept Layout, Renovated Kitchen, Centre Island, Quartz Counters, Freshly Painted, Hardwood Flooring Throughout Main, Newley Paved Drive. New Shed. Wide Driveway Accommodating 6 Cars. Conveniently Located Close To Transit (3 Min To The Bus), Shopping, Parks Schools, Hwy 400 / 401, Hospital, Sheridan Mall, And More!**** Extras **** 2 Fridges, 2 Stoves, 2 Hood Range, 1 Movable Dishwasher, Washer / Dryer, Newer Windows & Door, Newer Roof 2017, New Shed. All Elf's, All Window Coverings, Other: See Floor Plans For All Rooms (Id:23934)
CALL1.877.896.6727
Property Price
$849,000
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,900
Mortgage Insurance ($)
$31,564
Mortgage Required ($)
$820,664
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$26,910
Mortgage Insurance PST
$2,525
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$90,835
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$82,360
Monthly Payment
$3,242
Absolutely Stunning With Impeccable Quality Thru-Out!Offering 2Beds / 3Baths,Rare 2 Parking Spaces,Huge Locker,Open Concept Layout With Fully Upgraded Kitchen Included:H-End Stainless Steel App,Quartz Counter,Bplash,Smooth 9'Ceiling, $75K+ Upgrades:Eng Flooring,Oak Staircases,(Hdouglas Smart Remote Blinds).Upgrade List Attached.Massive Rooftop Terrace Unobstructed View Of Dtown Skyline.Walk To School,Mimico Go,Grocery,Ttc,Sanremo Bakery.5Min Qew / Gard,10Min To Dtown,15Min To Airport.**** Extras **** 2 Car Parking,Locker,Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel Dishwasher, Stainless Steel Microwave Hood, Washer & Dryer,All Electrical Lighting Fixtures, Hunter Douglas Smart Blinds . Furnace(Air Handler Hvac) & Tankless Hot Water Tank Rented @ $79.88+Hst / Mo. Status Certificate Available (Id:23934)
CALL1.877.896.6727
Property Price
$849,900
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,990
Mortgage Insurance ($)
$31,596
Mortgage Required ($)
$821,506
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$26,946
Mortgage Insurance PST
$2,528
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$90,964
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$82,489
Monthly Payment
$3,245
Live Above The Clouds In This Brand New Upgraded 1 Bedroom + Tech Unit At Eau Du Soleil! Enjoy Completely Unobstructed Views Of The Cn Tower & The Lake From The Massive Balcony! Unit Features Engineered Hardwood Floors, Smooth Ceilings, Miele Appliances, Walk In Shower & Floor To Ceiling Windows. Take Your Dedicated Elevator Straight To The Top! Includes 1 Parking, 1 Locker, 1 Wine Locker & 1 Humidor! Don't Forget Your Exclusive Access To Ph Sky Lounge!!**** Extras **** Miele Kitchen Appliances - Stainless Steel Refrigerator, Stove, Built-In Dishwasher; White Stacked Washer And Dryer; Humidor, Wine Storage Locker, 1 Parking, 1 Locker. Valance Lighting, Upgraded Cabinetry. Exclusive Access To Ph Lounge. (Id:23934)
CALL1.877.896.6727
Property Price
$599,990
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,999
Mortgage Insurance ($)
$22,600
Mortgage Required ($)
$587,591
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$16,950
Mortgage Insurance PST
$1,808
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$55,257
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$46,782
Monthly Payment
$2,321
Spacious One Bedroom Unit With Breath Taking Views Of The City Skyline And Lake Ontario. Upgraded Frameless Glass Shower, Upgraded Cabinetry, Granite Countertop In Kitchen, Under Cabinet Lighting. Steps To Waterfront And Trails, Humberbay Park And Close To Highway 427. 24Hr Concierge / Security, Rooftop Barbeque's, Gym, Yoga Rooms, Pool, Sauna, Hot Tub, Walking Distance To Shopping And Restaurants.**** Extras **** All Existing Window Coverings, All Existing Light Fixtures, All Stainless Steel Appliances, Washer / Dryer (Stacked). Includes One Parking Spot And One Locker. Listing Agent Related To Seller. (Id:23934)
CALL1.877.896.6727
Property Price
$689,900
Minimum Down Payment (%)
6.38%
Minimum Down Payment ($)
$43,990
Mortgage Insurance ($)
$25,836
Mortgage Required ($)
$671,746
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,546
Mortgage Insurance PST
$2,067
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$68,103
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$59,628
Monthly Payment
$2,654
Magnificent Newly Renovated Of Minimalist Style! Modern Open Concept Living, Dining & Kitchen With Lots Of Storage. Led Pot Lights. Double Doors Entrance, New Windows(2020).Rare 4Bedrooms ,Master With 4Pc Ensuite. Finished Basement 4Bdrm + Separate Entrance, Potential Income. Entrance To Garage,2 Driveways Hold Approx 8 Cars. Close To Schools, Shopping, Places Of Worship, Ttc, Etc.**** Extras **** All Existing Appliances: Stainless Steel Fridge, Stove , Stainless Steel Dishwasher, Washer & Dryer. All Electrical Light Fixtures (Id:23934)
CALL1.877.896.6727
Property Price
$899,900
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,990
Mortgage Insurance ($)
$33,396
Mortgage Required ($)
$868,306
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$28,946
Mortgage Insurance PST
$2,672
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$98,108
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$89,633
Monthly Payment
$3,430

Mortgages In Toronto

Toronto is the go-to city for richly diverse real estate in Canada, from eclectic heritage conversion hard lofts to affluent skyscrapers to executive & stately townhomes to high-end condominiums, and everything in-between! This city offers a countless smorgasbord of neighbourhoods that lie within enticing districts, each having a big personality that is distinctly unique! When it comes to the realty in this city, home buyers that are considering a mortgage loan have plenty of mortgage products at their disposal through various lenders, some conventional lenders, and some private lending entities. Homebuyers have fantastic tools at their fingertips to help aid in working out the financials regarding a new home, such as Toronto mortgage calculator. A mortgage calculator breaks down all the pertinent information needed to derive that bottom line that home buyers need in order to know where their affordability is with purchasing a new home. What home buyers want to achieve is to know how much of a payment would be required each month in order to purchase and maintain a new home and this type of online calculator can do just that! Using a free online calculator that is for working out a mortgage only requires a bit of information such as the interest rate, the mortgage loan amount, and the anticipated amortization period.
The fun part of using a mortgage calculator is that the financial information can be altered several times so a home buyer can really get a feel for their personal affordability level for a mortgage loan. Typically, home buyers understand that the larger the down payment is, the better the mortgage loan terms; in other words, before really getting started on where you stand financially for a new home, it is wise to know exactly how much you can put down against it (up to 20% of the property value is considered a good down payment). There is quite a bit of real estate in Toronto that is more than affordable for those home buyers that want to live the urbanite lifestyle without crazy price points attached to it. A mortgage calculator will help to work out the numbers, but what about the mortgage loan product itself? Which one is ideal for your individual finances? It is easier than ever to understand which mortgage product would be right for you and your individual financial circumstances. Knowing in advance that there are pros & cons to every mortgage type will help home buyers steer clear of getting 'roped into' an undesirable mortgage agreement with a lender.
A mortgage calculator is more precise with its bottom line when more information can be entered, so knowing four key points of information will help even more (the principal amount, the interest rate, the taxes and the insurance if applicable). The types of mortgage loans in Toronto that are generally available to home buyers depends on their financial standing. For home buyers that want to lower the percentage of their down payment, Canada has options through the government (Federal Housing Administration - FHA). The FHA ensures the loan, so lenders have that 'backup' in case the home buyer defaults on their mortgage loan. Conventional mortgages do not have the FHA back up, so the lender considers the home buyer a higher risk and must meet stricter criteria to be approved for a mortgage loan. An adjustable/variable-rate mortgage fluctuates with the market, so the rate will go up and down. A fixed-rate mortgage interest rate is locked in for only a term, not for the whole duration of the mortgage loan. An open mortgage allows the borrower to pay off the mortgage loan at any time without any penalty, and a closed mortgage comes with stiff stipulations that cannot be altered or paid off through the life of the loan.