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Mortgage Calculators

9 professional-grade calculators built for Canadian mortgages — all using accurate semi-annual compounding and current Ontario rules.

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Mortgage Payment

Calculate your regular mortgage payment for any loan amount, rate, and amortization.

$
$50,000$2,000,000
%
0.5%12%
yrs
5 yrs30 yrs

Monthly Payment

$2,167

12 payments/year

Total Principal

$400,000

Total Interest

$250,230

Total Amount Paid

$650,230

Principal vs Interest

Principal 62%Interest 38%
$
$100,000$3,000,000
%
5%50%

Down payment: $120,000

%
0.5%12%
yrs
5 yrs30 yrs

Up to 30 years

Monthly Payment

$2,601

Principal + interest

Mortgage Amount

$480,000

Down Payment

$120,000

20%

Estimated Closing Costs

Land Transfer Tax$8,475
Legal Fees (est.)$2,000
Title Insurance (est.)$300
Home Inspection (est.)$500
Total Cash Needed$131,275
$
$30,000$500,000
$
$0$500,000
$
$0$5000

Car loans, student loans, credit card minimums, etc.

$
$1,000$20,000
$
$50$500
%
0.5%12%
yrs
5 yrs30 yrs

Max Purchase Price

$695,167

$615,167 mortgage + $80,000 down

Maximum Mortgage

$615,167

Monthly Payment

$3,333

At max qualification

Debt Service Ratios

GDS Ratio39.0% / 39% max
TDS Ratio44.0% / 44% max

GDS ≤ 39% · TDS ≤ 44% (standard lender limits)

Option A

$
$50,000$2,000,000
%
0.5%12%
yrs
5 yrs30 yrs

Option B

$
$50,000$2,000,000
%
0.5%12%
yrs
5 yrs30 yrs
MetricOption AOption B
Monthly Payment$2,965 $2,709 ✓
Total Interest$389,564 $312,788 ✓
Total Paid$889,564 $812,788 ✓

Option B saves you $256/month

Over the full amortization, that's $76,776 in total savings.

$
$50,000$2,000,000
yrs
1 yrs30 yrs
%
0.5%12%
%
0.5%12%
yrs
1 yrs10 yrs

Monthly Savings

$208

With the new rate

Current Payment

$2,190

New Payment

$1,982

Savings Over 5-Year Term

$12,488

Total term savings

Lifetime Interest Savings

$49,952

✓ Great time to renew!

Don't auto-renew with your bank. Shop the market for an even better rate.

$
$100,000$3,000,000
%
5%50%

Down: $120,000

Total Closing Costs (est.)

$12,075

Plus your down payment of $120,000

Ontario Land Transfer Tax
$8,475
Legal Fees (estimate)
$2,000
Title Insurance
$300
Disbursements
$500
Adjustments (est.)
$800
Total Cash Required$132,075

Down payment + closing costs

$
$50,000$3,000,000

Ontario LTT Breakdown

0.5% on $0K–$55K$275
1% on $55K–$250K$1,950
1.5% on $250K–$400K$2,250
2% on $400K–$600K$4,000

Net LTT Owing

$8,475

Ontario LTT (gross)$8,475
Ontario LTT (net)$8,475
Total Net LTT$8,475

Estimates only. First-time buyer rebates apply to principal residence purchases. Consult your lawyer for exact amounts.

$
$100,000$3,000,000
%
5%50%

Down: $120,000

%
0.5%12%
yrs
5 yrs30 yrs
$
$1,000$20,000
$
$50$500

Minimum Gross Annual Income

$97,464

Based on 39% GDS ratio

Monthly Income Needed

$8,122

Mortgage Payment

$2,601

Monthly Housing Costs

Principal & Interest$2,601
Property Tax (÷12)$417
Heating$150
Total Monthly Housing$3,168

How this is calculated:

GDS ratio = Monthly Housing ÷ Monthly Income ≤ 39%

Min Income = Monthly Housing ÷ 0.39 × 12

Your lender will also review TDS, credit score, and other factors.

Income

$
$30,000$500,000

Housing Costs (GDS)

$
$200$10000
$
$0$20,000
$
$0$500
$
$0$2000

Only 50% of condo fees included in GDS

Other Monthly Debts (TDS)

$
$0$2000
$
$0$1000
$
$0$3000

Student loans, lines of credit, etc.

Qualification Status

✓ Likely Qualifies

Both GDS and TDS ratios within lender limits

GDS Ratio
26.7%PASS
0%Max: 39%55%
TDS Ratio
31.7%PASS
0%Max: 44%55%

Monthly Breakdown

Monthly Income$10,000
GDS (housing costs)$2,667
TDS (all obligations)$3,167
Other debts$500

GDS ≤ 39% · TDS ≤ 44% (standard OSFI B-20 lender guidelines). Actual qualification depends on credit score, property type, and lender policies.

All calculations are estimates for illustrative purposes only. Uses Canadian semi-annual compounding as required by the Interest Act. Results do not constitute financial advice. Consult a licensed mortgage professional for personalized guidance — FSRA License #M25000058.

All Calculators

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