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

Welcome To The Boutique Living In The Bohemian Embassy Lofts! This Main Floor-Penthouse One-Bedroom Suite. Floor To A Very Rare And Unique High Ceiling, With South-Facing Windows One Of The Most Open Concepts Functional Layouts In The Building. Enjoy Entertaining And Cooking In The Kitchen With Stainless Steel Appliances And A Centre Island With Seating. Relax On The Open Balcony And Take In The Fabulous Views. Also, Enjoy Many Amenities Of The Building, Included**** Extras **** Built-In Microwave, Dishwasher, Range Hood, Refrigerator, Stove (Id:23934)
CALL1.877.896.6727
Property Price
$600,000
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$35,000
Mortgage Insurance ($)
$22,600
Mortgage Required ($)
$587,600
Best Mortgage Rate (%)
1.30%
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
$55,258
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$46,783
Monthly Payment
$2,294
Welcome To 48 San Gabriele Place Located In The Humber Summit Neighbourhood Of North York! This Well Maintained, Semi-Detached Home Boasts Over 1300 Square. Ft Of Living Space And An Attached Garage. As You Enter The Home, Walk Down The Hallway To The 3-Piece Guest Washroom And A Stunning Staircase. The Main Floor Features An Open Concept Layout That Links The Dinning Room, Living Room And Kitchen Spaces Into One Cohesive Floor Plan. (Id:23934)
CALL1.877.896.6727
Property Price
$999,999
Minimum Down Payment (%)
7.50%
Minimum Down Payment ($)
$75,000
Mortgage Insurance ($)
$37,000
Mortgage Required ($)
$961,999
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$32,950
Mortgage Insurance PST
$2,960
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$112,410
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$103,935
Monthly Payment
$3,756
Sun Filled 2 Bedroom Corner Suite, With A Private Balcony. 2 Full Bathrooms And Ample Storage. One Parking & One Locker Included! Located In Desirable Bayview Village, Steps To Shopping, Transit & Restaurants. Building Amenities Include 24 Hr Concierge, Guest Suites, Gym, Theatre Room, Party Room And Plenty Of Visitor Parking!**** Extras **** Blinds, Fridge, Cooktop Stove, Fanhood, B / In Dshwr, Stacked Washer / Dryer (Id:23934)
CALL1.877.896.6727
Property Price
$749,900
Minimum Down Payment (%)
6.67%
Minimum Down Payment ($)
$49,990
Mortgage Insurance ($)
$27,996
Mortgage Required ($)
$727,906
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$22,946
Mortgage Insurance PST
$2,240
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$76,676
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$68,201
Monthly Payment
$2,842
**1054 Square.Ft. - Spacious - Popular Split Bedroom Diamond Model **Upgraded Appliances Includes ( Lg -Fridge And Stove -Built-In Bosch Dishwasher), Washer,Dryer,Newer Hvac Unit And Hot Water Tank,Gorgeous Maple Engineered Hardwood ,Large Storage Locker ** Enjoy Gorgeous Sunsets And View Of Downtown Skyline From Balcony ** Owned Parking Spot **High Demand Henley Gardens -24 Hr Concierge-Amazing Green Space And Amenities-Guest Suites-Visitor Parking****** Extras **** Fridge,Stove,Built-In Dishwasher,Washer,Dryer,Heating And Air Conditioning Unit,Ehwt(O),New Exhaust Fan In Kitchen **2- 4 Pice Baths** (Id:23934)
CALL1.877.896.6727
Property Price
$799,000
Minimum Down Payment (%)
6.87%
Minimum Down Payment ($)
$54,900
Mortgage Insurance ($)
$29,764
Mortgage Required ($)
$773,864
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$24,910
Mortgage Insurance PST
$2,381
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$83,691
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$75,216
Monthly Payment
$3,022
Opportunity Awaits! Calling All Builders / Renovators To This Charming Leslieville Detached Brick Bungalow On A 25 X 115Ft Lot With Front Pad Parking Surrounded By Larger Homes And Infill. No Large Trees To Get In Your Way Of Expanding This Puppy! 2 Bedrooms, 1 4Pc Bath, Great Layout. Big Beautiful Backyard With Large Shed. Dry Basement With Good Ceiling Height. Lovely Street, Steps To Trendy Gerrard St. E & The Danforth. This Ones Not Going To Last!**** Extras **** Has Many Recent Updates, Newer Appliances, Newer Back Deck, Separate Entrance To The Basement That Has A Rough In For Kitchen And Bath. Inc: Fridge, Stove, Dishwasher, Washer, Dryer, Electrical Lighting Fixtures, Window Coverings. Open House Sat & Sun 2-4Pm (Id:23934)
CALL1.877.896.6727
Property Price
$899,000
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,900
Mortgage Insurance ($)
$33,364
Mortgage Required ($)
$867,464
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$28,910
Mortgage Insurance PST
$2,669
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$97,979
First Time Home Buyer
Land Transfer Tax Credit
-$8,475
Cash Needed
$89,504
Monthly Payment
$3,387

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.