Land Transfer Tax

When a property is purchased in Ontario the Buyer is required to pay a Land Transfer Tax (LTTax)  plus  an additional Municipal LTTax  if  the property is located within the boundaries of The City of Toronto.

It is crucial for all Buyers to know the total amount of the tax, and to incorporate it in their budget, as it can be substantial.  It is due and payable on the day of Closing/Completion date.

For First-Time-Buyers there is an immediate rebate of a portion of the LTTax.

Calculate the total Land Transfer Tax here

Mortgage Calculator

When considering purchasing a property, a wise Buyer will know the amount of the monthly mortgage payment prior to considering making an Offer.

Calculate the Monthly Mortgage Payment here.

Regarding your down payment - a traditional mortgage requires a minimum down payment of 20% of the purchase price.  Any lesser down payment results in a High Ratio mortgage which must be insured and therefore will incur a one-time mortgage insurance premium.  This premium is typically 'rolled-into' the mortgage amount and is included in the above calculator's results.