Terms of Use

The calculator uses one set of purchase inputs to estimate both payments and closing costs. The base mortgage is the purchase price less the down payment, with an estimated financed default-insurance premium added where applicable. Payments use this total mortgage, the annual interest rate, amortization and frequency selected. It assumes a nominal annual rate compounded semi-annually and a constant rate for the full amortization. Actual mortgage rates may change at renewal or under a variable-rate arrangement.

The initial interest rate is an example, not a rate offer. Monthly payments are calculated first. Regular biweekly payments equal the monthly amount multiplied by 12 and divided by 26; regular weekly payments use 12 divided by 52. These are not accelerated plans. Results are displayed to the nearest cent; lenders’ rounding and calculation methods may differ.

The payment figure excludes ongoing property taxes and insurance, legal and appraisal costs, lender or brokerage fees, and prepayment charges. Purchase costs are shown separately within the same result; they are not added to the mortgage payment. It is not an affordability assessment, stress test, qualification decision, or amortization schedule. Lenders’ calculation methods may differ.

Down payment and mortgage insurance

This combined estimate assumes a standard owner-occupied resale with one or two residential units, a purchase price equal to lending value, and a traditional down payment such as savings, existing equity or a non-repayable family gift. It uses 5% down on the first $500,000 and 10% on the remainder for prices below $1.5 million. At $1.5 million or more it requires 20% down. These are calculation assumptions, not confirmation of eligibility; lenders may require more. See Finance Canada’s insured mortgage parameters.

Below 20% down, the estimate uses CMHC standard premiums of 2.8%, 3.1% or 4.0% of the base mortgage for loan-to-value ratios above 80% up to 85%, above 85% up to 90%, or above 90% up to 95%, respectively. A 30-year insured illustration adds 0.20 percentage points and requires separate confirmation that at least one borrower meets CMHC Home Start’s first-time buyer criteria for a resale purchase. Those criteria are different from land-transfer tax refund eligibility. The premium is financed once, in the mortgage amount. With at least 20% down the estimate assumes no borrower-paid insurance premium. Actual lender or insurer requirements may differ. See CMHC premiums and Home Start eligibility.

Ontario’s 8% retail sales tax on the insurance premium is included as an upfront closing cost, not financed. No borrower provincial sales tax on the premium is assumed in Alberta. See Ontario insurance tax rules and CMHC payment treatment. This estimate does not model premium portability, refunds, non-traditional down-payment surcharges, rental financing or refinancing.

The closing-cost breakdown illustrates an ordinary arm’s-length residential resale purchase containing one or two single-family residences. It assumes one title, one transfer and, when selected, one new mortgage registration. It is not a commercial, mixed-use, new-construction, refinance or foreign-buyer calculator. The purchase price is used as taxable consideration and, in Alberta, as land value including buildings. If the legal value differs, obtain a transaction-specific calculation.

Rules were checked October 14, 2026. Ontario land-transfer tax is calculated marginally at 0.5% on the first $55,000, 1% to $250,000, 1.5% to $400,000, 2% to $2 million and 2.5% above $2 million. Toronto adds its own municipal tax. Its residential rates through $3 million follow the same bands; above $3 million the marginal rates are 4.40% to $4 million, 5.45% to $5 million, 6.50% to $10 million, 7.55% to $20 million and 8.60% above $20 million, effective April 1, 2026. See Ontario’s calculation rules and Toronto’s rates and fees.

The Ontario/Toronto estimate uses the selected estimated registration date, initially today's date in your browser. The electronic registration fee before November 2, 2026 is $85 per instrument including applicable HST: $85 for a transfer alone or $170 for a transfer and mortgage. From November 2, 2026, the announced fee is $86.42 per instrument: $86.42 for a transfer alone or $172.84 for a transfer and mortgage. Confirm the registration date and any later fee changes with your lawyer. Toronto’s $102.56 processing fee plus 13% HST is shown as $115.89 where consideration is at least $14,399. Special exemptions and later refund-processing fees are not calculated. These sources were rechecked October 14, 2026.

Alberta charges $50 plus $5 for each $5,000, or portion thereof, of land value for the standard transfer, and the same formula on the principal secured by a registered mortgage. By default the registration estimate uses the calculated mortgage including any financed insurance premium. The optional registered-amount field lets you enter the actual secured amount, which can exceed the loan advance. No mortgage levy is included for a cash purchase. Extra titles, endorsements, deficient submissions and other contingent fees are excluded. See the Land Titles Act, sections 64.1 and 102.1, and Alberta registration guidance.

First-time buyer refunds are off by default. Selecting the option assumes all purchasers meet every condition for the full available refund and it is claimed at registration: up to $4,000 for Ontario and $4,475 for Toronto, each limited to the corresponding tax. Conditions include age, previous ownership anywhere in the world, spousal ownership, principal occupancy and citizenship or permanent-resident status. Partial ownership eligibility and special spousal cases require individual review. Consult the Ontario eligibility rules and Toronto eligibility rules.

Legal/title/disbursement, inspection/appraisal and tax/condo-adjustment allowances start at illustrative amounts of $2,500, $500 and $1,000. These are editable planning assumptions, not quotes or verified market averages. Enter applicable sales taxes within each allowance and do not duplicate separately calculated government charges. The “other closing costs” allowance starts at zero. The closing-cost subtotal excludes the down payment and financed mortgage insurance premium; Ontario tax on that premium is included. The estimate excludes deposit reconciliation, non-resident speculation taxes, new-build taxes or adjustments, and any appraisal, lender, brokerage, discharge, moving or other costs you have not entered. Some estimated expenses may be paid before closing. The combined down-payment-plus-closing-costs figure is a purchase cash budget before subtracting deposits or expenses already paid, not the remaining balance due to a lawyer. The result is not a lawyer’s statement of adjustments. Confirm eligibility, rates, fees and all amounts for your actual closing date.