Ontario residential purchase financing · Cornell K. Haynes, Agent Level 2 (FSRA #M22004316)
Planning tools
Six calculators built on the rules Canadian lenders actually apply — semi-annual compounding, the tiered minimum down payment, the published insurance premium bands, the minimum qualifying rate, and current Ontario and Toronto land transfer tax brackets. Every one produces an illustrative estimate, not an approval.
Start here
What price range can I actually work with?
Solves for the purchase-price range your income, debts and down payment support at the stress-tested qualifying rate, then adds an itemized Ontario closing cost estimate.
What you enter
Income, debts, down payment, rate, amortization, property tax, condo fees, market
Open calculatorCalculator
What will the payment be, on any frequency?
Payments on all six Canadian frequencies including accelerated options, total interest, a year-by-year amortization schedule and the effect of prepaying extra each payment.
Calculator
How does a lender measure my scenario?
Applies the minimum qualifying rate, shows both debt-service ratios against the usual guidelines, and quantifies which lever moves the outcome most.
What you enter
Income, debts, mortgage amount, rate, amortization, property tax, condo fees
Open calculatorCalculator
How much do I need, and when will I have it?
The tiered federal minimum at your target price, a month-by-month savings timeline, and what five, ten, fifteen and twenty per cent down each do to your premium and payment.
What you enter
Target price, savings, expected gift, monthly contribution, assumed return
Open calculatorCalculator
What will the province and city take?
Provincial land transfer tax everywhere in Ontario plus the Toronto municipal tax where it applies, with first-time buyer rebates and a bracket-by-bracket breakdown.
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How much cash do I need on closing day?
Land transfer tax, legal fees, title insurance, inspection, adjustments and the Ontario sales tax on default mortgage insurance, totalled into a real cash-to-close figure.
What you enter
Price, down payment, market, first-time buyer status, adjustable fee estimates
Open calculatorHow to use them together
Buyers usually start with the wrong question. The useful sequence is: what range is realistic, what does the monthly commitment look like at the top of that range, how much cash does closing day require, and what would a lender actually say about it. The calculators map onto that order.
What none of them can do is read your documentation. The gap between a calculator result and a lender decision is almost always about how income is calculated, how debt is counted, and which lender policy applies — and that is where a review earns its keep.
The affordability calculator, using a conservative rate. Write down the number that comes out and treat it as a ceiling, not a target.
2.Pressure-test the monthly commitment
The payment calculator at the top of your range. If the payment at that price is uncomfortable, the range is too high regardless of what the ratios allow.
3.Confirm the down payment plan
The down payment calculator, to check whether the minimum is within reach and what waiting for a larger one would buy you.
The closing cost calculator, so the cash requirement is known well before you are committed to a date.
A qualification review, where a licensed professional reads your actual documentation and tells you what the file supports.
Before you rely on a result
The arithmetic is built on current Canadian rules — semi-annual compounding, the tiered minimum down payment, the published insurance premium bands and amortization surcharge, the minimum qualifying rate, and current Ontario and Toronto land transfer tax brackets. What a calculator cannot know is how a lender will treat your income, your credit history, the property, or which lender policy fits your file. Treat every result as an illustrative estimate for planning, not an approval.
If you are early and want to know what price range is realistic, start with the affordability calculator. If you have a price in mind and want to understand the monthly commitment, use the payment calculator. If you are close to writing an offer, the closing cost calculator is the one that prevents surprises. They are all designed to be used together rather than in isolation.
Because it applies the stress test. Canadian lenders qualify you at the greater of your contract rate plus two percentage points or a regulated floor, not at the rate you would actually pay. Calculators that use only your contract rate produce a friendlier number that a lender will not honour.
No. Nothing on this site is a mortgage application, pre-approval, commitment, rate quote or guarantee of financing. No lender is involved and no credit check occurs. Every result is subject to lender underwriting. When you want a figure you can act on, the qualification review is the next step.
The affordability calculator saves your inputs in your own browser so they carry into the purchase-readiness assessment if you choose to start one. Nothing is transmitted to us unless you submit a form. The other calculators do not retain anything after you leave the page.
Next step
Provide your documentation through the qualification review and a mortgage professional will respond within one to two business days with what your file actually supports.
A real person reviews your scenario. This platform does not issue automated approvals, and no financing outcome is guaranteed.