Tools
Do the mathsbefore anyonepulls your credit.
Three calculators built on the way Canadian lenders actually compute — semi-annual compounding, real CMHC premium bands, the federal stress test and Ontario's statutory land transfer tax brackets.
Payment
Most online calculators use the American monthly-compounding formula and overstate your payment. This one compounds semi-annually, the way a Canadian lender actually does.
- Semi-annual compounding
- CMHC premium included
- Accelerated payments
Affordability
Lenders test two ratios and then re-test everything at a rate higher than the one you are being offered. This shows you the number that survives all three checks.
- GDS — Gross Debt Service
- TDS — Total Debt Service
- The stress test
Land transfer tax
Land transfer tax is due in cash on closing and cannot be added to your mortgage. Buy in Toronto and you pay it twice — once to the province, once to the city.
- Payable in cash
- Toronto pays twice
- First-time buyer rebates
Estimate only. Assumes a fixed rate compounded semi-annually, not in advance. Actual payments, premiums and rates depend on lender, product, credit and property, and are subject to change without notice. Not an offer of credit or a pre-approval. O.A.C.
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