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 Examples

Show Stopper! Beautifully Renovated Top To Bottom! Move In Ready! Custom Kitchen & Backsplash! Stylish & Modern Finishes! Custom Blinds! Located Walking Distance To New Finch Subway, York University Close To Yorkdale Mall, Highways & Other Amenities.**** Extras **** All Appliances, Washer & Dryer, Blinds, Electrical Lighting Fixtures,, Parking & Locker, Maintenance Fee Includes: Recreation Centre Membership, Locker, Parking, Water, Gas, Hydro,Building Insurance, Common Elements... New Energy Efficient Windows (2018),Excluded: Dyson Vac (Id:23934)
CALL1.877.896.6727
Property Price
$423,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,150
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,870
Mortgage Insurance PST
$1,286
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,806
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$25,331
Monthly Payment
$1,808
Detached Bungalow On A Fabulous Builder's Dream Lot: 24 X 110 With Laneway In The Back! Ideal Starter In Vibrant And Rapidly Gentrifying Mount Dennis Neighbourhood, Currently 2 Units - Main Flr: Large 1-Bedroom (Converted From A 2-Bedroom), Open Concept Living / Dining + 4-Piece Bath; Separate Entrance To Finished 1-Bedroom Basement Apartment With Kitchen & 3-Piece Bath Or Land Bank For Future Top-Up / Rebuild, Beautiful Solid Brick Facade, Across From Ravine, 4 Car Parking At Back!**** Extras **** 2 Fridges, 2 Stoves, Washer / Dryer **Walk To: Scarlett Woods Golf Course, Humber River / Nature Trails, T.T.C, Future Eglinton Living Room.T & Mt. Dennis Go / Up Station, Parks, Schools, Shopping, Hwy 400 / 401 (Id:23934)
CALL1.877.896.6727
Property Price
$619,900
Minimum Down Payment (%)
5.97%
Minimum Down Payment ($)
$36,990
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$17,746
Mortgage Insurance PST
$1,865
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$58,101
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$49,626
Monthly Payment
$2,623
Location! Location! Location! Midtown Toronto, Close To Major Highway 400 And 401, Ttc Direct Bus To Subway. Beautiful Custom Built Detached Home, Hardwood Through Out, Fully Fence Big Back Yard, Separate Entrance To Finished Basement For In-Law Suite. Great Potential Income Property. Great Opportunity For Home Users And / Or Investors . A Must Seen Home.**** Extras **** 2 Fridges, 2 Stoves, Dishwasher, Washer, Dryer, All Existing Window Coverings, All Existing Electrical Light Fixtures, Garage Door Opener (Id:23934)
CALL1.877.896.6727
Property Price
$1,000,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$200,000
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$32,950
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$234,450
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$225,975
Monthly Payment
$3,461
Charming 3 Storey Victorian Gem In Harbord Village. Architect's Design With 2 Storey Living Room And Stained Glass Window. Separate Dining Room, Chef's Delight Kitchen With Breakfast Room. See The Attached Virtual Tour And Walk Through This Magnificent Home. French Doors, Crown Moulding, Hardwood Floors, 2 Gas Stoves, Gas Fireplace In Living Room. Walk To U Of T., Shops, Restaurants. A Carson-Dunlop Home Inspection Has Been Done.**** Extras **** Dishwasher, Oven, Microwave, Range Top, Exhaust Hood, Window Coverings, Gas Burner & Equipment, 2 Air Conditioning Units, Electric Light Fixtures, Ceiling Fans. Hot Water Tank Is A Rental. (Id:23934)
CALL1.877.896.6727
Property Price
$1,999,990
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$399,998
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$72,950
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$474,448
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$465,973
Monthly Payment
$6,923
A Beautiful, One Of A Kind, Two-Story Condo On The Waterfront Of Humber Bay Shores. Equipped With Two Entrances, Including One That Goes Directly Outside, This Unit Is One You Want To See. Fully Upgraded, With 12Ft Ceilings, 23Ft Open To Above Second Story, Brand New Laminate Heated Floors, Lots Of Closet Space, Generous Storage Locker, 1 Parking Spot. End Unit With Lake Views From The Gated Private Porch, Unobstructed And Steps Away From Your Front Door!**** Extras **** 24 / 7 Concierge! Ttc! All Appliances & Lighting. Storage Locker Across 2Nd Floor Entrance. Gym, Salt Water Pool, Hot Tub, Sauna, Bbqs, Theater Room, Party Room, Games Room, Two Outdoor Terraces, Guest Suites, Car Wash, Visitor Parking, Dog Wash. (Id:23934)
CALL1.877.896.6727
Property Price
$789,900
Minimum Down Payment (%)
6.84%
Minimum Down Payment ($)
$53,990
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$24,546
Mortgage Insurance PST
$2,355
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$82,391
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$73,916
Monthly Payment
$3,311

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.