Canadian mortgage calculator
Built for Ontario buyers. Uses Canadian semi-annual compounding, current CMHC insurance rules, the federal stress test, and Ontario and Toronto land transfer tax.
Where your money goes
Over the full amortization
Mortgage balance over time
Year-by-year schedule
| Year | Principal paid | Interest paid | Balance |
|---|
Highlighted row = end of your term, when you renew.
How lenders decide
Every federally regulated lender has to “stress test” you at the higher of your rate + 2% or 5.25%. At that test rate:
- GDS (mortgage, property tax, heat and half of condo fees) should be no more than 39% of your gross income.
- TDS (all of the above plus your other debts) should be no more than 44%.
This is an estimate. Your actual approval depends on your credit, employment and the lender. A pre-approval gives you the real number, and I can connect you with a mortgage professional.
Closing cost breakdown
Tip: Plan for closing costs of about 1.5% to 4% of the price on top of your down payment. Lenders usually want to see that money in your account before they approve you.
Ontario land transfer tax and Toronto MLTT rates and first-time buyer refunds (up to $4,000 Ontario and $4,475 Toronto) as of November 2026. Your lawyer will confirm the exact amounts.
These calculators give estimates for planning only and are not a mortgage approval or financial advice. Payments assume a fixed rate compounded semi-annually, as Canadian law requires for fixed-rate mortgages. CMHC premiums are 2.80% to 4.00% of the mortgage depending on your down payment, plus 0.20% for a 30-year insured amortization; Ontario charges 8% PST on the premium at closing.
Want me to run the numbers with you?
I’ll walk you through your budget, programs you qualify for and what to expect on closing day.