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Mortgage Calculators Toronto
Run the numbers before you talk to anyone. Estimate your monthly payment, see how much home you can afford under the stress test, and find out what land transfer tax will cost you on closing in Toronto.
Mortgage payment calculator
Canadian semi-annual compounding, the same math your lender uses.
- Mortgage amount
- $720,000
- Monthly payment
- $4,101.90
- Total paid over amortization
- $1,230,570
Affordability calculator
Applies the 39% GDS and 44% TDS ratios at the stress test rate.
- Qualifying rate used
- 6.79%
- Room for mortgage payment
- $3,933.33
- Estimated maximum price
- $722,122
Estimate only. Minimum down payment rules, default insurance premiums, and condo fees can change the result.
Land transfer tax calculator
Ontario plus the municipal Toronto tax, with first-time buyer rebates.
- Ontario land transfer tax
- $14,475.00
- Toronto land transfer tax
- $14,475.00
- Total due on closing
- $28,950.00
Common questions
- How is a Canadian mortgage payment calculated?
- Canadian fixed-rate mortgages are compounded semi-annually, not monthly. The calculator on this page converts the annual rate to an effective monthly rate the same way a Canadian lender does, then amortizes the balance over the number of years you enter.
- How much land transfer tax do I pay in Toronto?
- Buyers inside the City of Toronto pay both the Ontario land transfer tax and the municipal Toronto land transfer tax, which roughly doubles the cost compared with the rest of the GTA. First-time buyers can claim rebates against both.
- How much mortgage can I afford in Toronto?
- Lenders generally allow about 39% of gross income toward housing costs and 44% toward all debts, qualified at the stress test rate rather than your contract rate. The affordability tool here applies those ratios to your numbers.
- Are these calculator results an approval?
- No. They are estimates to help you plan. Actual approval depends on lender guidelines, credit, income documentation, and the property. Text (647) 342-1355 for a real pre-approval review.
Free consultation
Turn the estimate into a real approval
Calculators give you a range. A licensed broker gives you a number a lender will actually honour. Send your details and we respond right away.
- 60+ lenders compared for you
- Residential, commercial, construction, and private financing
- Prefer to talk now? Text (647) 342-1355 for the fastest reply, or call the same number.