See the payment, cash needed at closing, monthly ownership cost, qualification ratios and how extra payments can change your mortgage.
Calculated in CADCanadian semi-annual compoundingOntario and Toronto purchase estimates
MNSKEY.COMHome Ownership Costs
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MNSKEY.COM · Home Ownership Costs
MNSKEY.COM
Your mortgage estimate
Toronto, Ontario · All amounts in CAD
HOME FINANCING
Monthly payment$4,383.42Includes extra payment of $0
Monthly ownership cost$5,183Mortgage and entered ongoing costs
Cash needed at closing$235,566Down payment and closing costs
01 / Financing details
Purchase price
$1,000,000
Down payment
$200,000 (20.0%)
Mortgage amount
$800,000
Interest rate
4.40%
Repayment period / term
25 years / 5 years
First-time buyer / new build
No / No
02 / Cash at closing
Down payment
$200,000
Ontario land transfer tax
$16,475
Toronto land transfer tax
$16,475
Toronto administration fee + HST
$116
Other closing costs
$2,500
Total cash needed
$235,566
03 / Monthly ownership costs
Mortgage (monthly equivalent)
$4,383
Property tax
$500
Condo fee
$0
Home insurance
$150
Heating and utilities
$150
Maintenance
$0
Total monthly cost
$5,183
04 / At the end of your term
Selected term
5 years
Principal paid
$98,797
Interest paid
$164,208
Remaining mortgage
$701,203
Annual extra payment
$0
About this estimate
Based on the values entered in the calculator. Canadian semi-annual compounding; rates are assumed unchanged. Rounded amounts may not add exactly. This is a planning estimate, not a mortgage approval. Confirm rates, taxes, rebates and final costs with your lender and lawyer.
Financing details
Build your estimate
Monthly ownership costsQualification estimate
Uses the higher of 5.25% or your rate + 2%, with guideline limits of 39% GDS and 44% TDS. A lender makes the final decision.
Year-by-year
Amortization schedule
Estimated annual mortgage balance, principal and interest
Mortgage insurance is estimated when the down payment is below 20%. The premium can usually be added to the mortgage, while Ontario sales tax on the premium is included in cash needed at closing.
The qualification section uses the federal mortgage stress-test rate and CMHC’s 39% GDS / 44% TDS guidelines. Rates, lender policies, taxes, rebates and eligibility can change.
Toronto land-transfer tax uses the residential rates effective April 1, 2026. Confirm the property type, rebate eligibility and final statement of adjustments with your lawyer and lender.
Next step
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