Mortgage calculators

Run the numbers before you run around.

Five calculators built for Ontario rules: payment, affordability with the stress test, land transfer tax with the first-time buyer rebate, default insurance premium, and renewal savings. Free, instant, no email required.

Mortgage payment calculator

Enter the mortgage amount, rate and amortization. Uses Canadian semi-annual compounding, the same way your lender calculates it.

Mortgage amount Interest rate (%) Amortization (years) Payment frequency

Estimated payment$0

How much can I afford?

Uses the 39% GDS and 44% TDS ratios lenders apply, at the stress-test qualifying rate (the greater of your rate plus 2% or 5.25%). Property taxes and heat are estimated.

Household gross annual income Monthly debt payments (cards, loans, leases) Down payment available Mortgage rate (%) Amortization (years) Monthly condo fees (if any)

Maximum purchase price (estimate)$0

Maximum mortgage$0

Qualifying rate used0%

Estimate assumes property taxes of 1% of price per year and $125 a month for heat. Actual approvals depend on credit, property and lender. OAC.

Ontario land transfer tax

Provincial land transfer tax on a residential purchase, with the first-time home buyer rebate of up to $4,000. Toronto buyers also pay a municipal tax; toggle it if that applies.

Purchase price I am a first-time home buyer (Ontario rebate) Property is in the City of Toronto

Ontario land transfer tax$0

First-time buyer rebate$0

Total payable on closing$0

Rebate requires that you have never owned a home anywhere in the world and will occupy the property. Toronto municipal tax shown for completeness; rebate rules differ. Confirm with your lawyer.

Mortgage default insurance premium

With less than 20% down, your mortgage is insured (CMHC, Sagen or Canada Guaranty) and the premium is usually added to the mortgage. Ontario charges PST on the premium, payable on closing.

Purchase price Down payment 30-year amortization (first-time buyer or new build)

Insurance premium$0

Premium rate0%

Ontario PST due on closing$0

Total mortgage incl. premium$0

Minimum down payment is 5% of the first $500,000 and 10% of the portion above, up to the insured price cap. Premium rates follow the standard insurer schedule.

Renewal savings calculator

Your lender's renewal letter versus a better rate from the market. See the monthly difference and the interest saved over the term.

Remaining mortgage balance Remaining amortization (years) Rate offered by your lender (%) Rate Tisha can find (%) Term (years)

Monthly savings$0

Interest saved over the term$0

Payment at each rate$0 vs $0

Free consultation

Numbers are a start. A plan is better.

Send Tisha what the calculators told you and she will turn it into a real pre-approval, with the lender, the rate and the fine print.

Over 20 years in retail banking
Former mortgage underwriter: she knows what lenders want
Banks, credit unions, monoline and alternative lenders
Lender-paid on most residential mortgages

(226) 802-1215 tfindlay@rmabroker.ca