Mortgage & Closing-Cost Calculators
Canadian-correct math for pre-construction buyers: true semi-annual mortgage compounding, CMHC insurance, Ontario & Toronto land transfer tax, and builder deposit schedules in real dollars.
= $150,000
Estimated payment
$3,321
per month
- Down payment
- $150,000 (20%)
- Total mortgage
- $600,000
- Total interest (25 yrs)
- $396,251
Estimates only, based on current rules and standard conventions; not financial advice. Rates, insurance premiums, taxes and rebates depend on your circumstances — confirm final numbers with your lender and lawyer.
Buyer math, explained
How are Canadian mortgage payments calculated?
Canadian fixed-rate mortgages compound semi-annually, not monthly — so the true monthly rate is slightly lower than the annual rate divided by twelve. Our calculator uses the correct semi-annual convention, plus CMHC default-insurance premiums when your down payment is under 20%.
How much down payment do I need on a pre-construction home?
Legally, 5% of the first $500,000 and 10% of the portion above that (20% once the price reaches $1.5M, where insured mortgages are no longer available). Builders, however, typically require a 15–20% deposit paid in installments before closing — our deposit-schedule tool shows how that lands in dollars.
What is land transfer tax in Ontario and Toronto?
Ontario charges a graduated land transfer tax from 0.5% to 2.5%. Properties inside the City of Toronto pay a second, municipal land transfer tax on top, with luxury tiers reaching 7.5% above $20M. First-time buyers can claim rebates of up to $4,000 (Ontario) plus $4,475 (Toronto).
Are these numbers exact?
They are accurate estimates based on current rules and standard conventions, but rates, insurance premiums, taxes and rebates depend on your circumstances and can change. Confirm the final numbers with your lender and lawyer — and register with us for guidance on any specific project.