Ontario · Built for GTA buyers
Most calculators stop at the monthly payment. This one shows the whole picture — CMHC insurance, the federal stress test, and the land transfer tax surprise that hits Toronto buyers twice. Calculated with proper Canadian semi-annual compounding.
Payments use Canadian semi-annual compounding, the way every bank in Canada actually calculates fixed-rate mortgages. CMHC default insurance applies when your down payment is under 20%: 4.00% of the loan (5–9.99% down), 3.10% (10–14.99%), or 2.80% (15–19.99%), added to your mortgage. Insured mortgages require a price under $1.5M; a 30-year insured amortization is available to first-time buyers and new-build purchases and carries a 0.20% premium surcharge.
The federal stress test requires you to qualify at the greater of your contract rate + 2% or 5.25%. Ontario land transfer tax is tiered from 0.5% to 2.5%; Toronto charges its own municipal land transfer tax on top, with luxury tiers reaching 7.5% above $20M. First-time buyer rebates: up to $4,000 (Ontario) and $4,475 (Toronto).
*Cash to close shown here is down payment plus land transfer tax minus rebates. Budget extra for legal fees, title insurance, and adjustments (typically $2,000–$4,000). This tool is for planning, not a lender commitment — rates and rules change. Talk to Ruchi for a current, personalized picture.