Tools · Built for Ontario

Run the numbers before anyone quotes you a rate.

These use proper Canadian math — semi-annual compounding, the federal stress test, CMHC tiers and Ontario land transfer tax. They're estimates to help you think clearly, not approvals. When you want the real picture, we'll talk.

Mortgage payment

What your regular payment looks like at a given rate and amortization.

Your payment
$2,840/mo
Based on Canadian semi-annual compounding.
Total paid over amortization
Total interest
Effective annual rate
Fixed Canadian mortgages compound semi-annually by law; variable rates compound monthly. Estimate only — your lender's exact terms may differ.

Affordability

Roughly what you can borrow, using lender GDS/TDS limits and the federal stress test.

Estimated max purchase price
$610,000
Qualified at the stress-test rate, not your contract rate.
Stress-test (qualifying) rate
Max mortgage amount
Limited by
Est. monthly payment
Uses GDS 39% / TDS 44%. Lenders vary, and some go higher with strong files. A real pre-approval can differ meaningfully.

Purchase costs

Down payment rules, CMHC insurance, and Ontario land transfer tax for a given price.

Cash needed to close
$78,400
Down payment plus land transfer tax and PST on CMHC.
Down payment
Down payment %
CMHC insurance premium
PST on CMHC (8%, cash)
Ontario land transfer tax
Total mortgage (incl. CMHC)
Minimum down payment met.

Renewal savings

What switching at renewal could save versus signing your lender's offer.

Savings over the term
$11,200
Difference in payments across the term you're comparing.
Payment at offered rate
Payment at better rate
Monthly difference
Interest saved over term
Switching lenders can involve discharge or legal costs, sometimes covered by the new lender. This compares payments only — book a call to factor in the full picture.

Qualification

Whether a specific purchase fits within lender GDS/TDS limits at the stress-test rate.

Do you qualify?
32.0% GDS
Stress-tested. Limits are GDS 39% / TDS 44%.
Qualifying (stress-test) rate
GDS ratio (limit 39%)
TDS ratio (limit 44%)
Stress-tested payment
Within limits.

Closing costs

The cash you'll need beyond the down payment to actually close in Ontario.

Total cash to close
$143,000
Everything due at closing, including your down payment.
Down payment
Ontario land transfer tax
Legal fees
Title insurance
Home inspection
PST on CMHC (if applicable)
Closing costs (excl. down pmt)
A common rule of thumb is to budget 1.5–4% of price for closing costs. Estimate only — actuals vary by lawyer, lender and property.

Equity & refinance

How much equity you can access (to 80% of value) and the new payment.

Equity you can access
$200,000
Refinances in Canada are capped at 80% of home value.
80% of home value
Current balance
New mortgage total
New monthly payment
Equity available to access.

Compare two options

Put two rate/term options side by side over a period you choose.

Difference over the period
$9,800
Total cost difference between Option A and Option B.
Option A — monthly
Option B — monthly
A — balance after period
B — balance after period
Better option over period
Compares total cost (payments plus remaining balance) over the period. Doesn't include fees or features — book a call to weigh those.

Break penalty

An estimate of what breaking your mortgage early might cost.

Estimated penalty
$4,300
Greater of 3 months' interest or IRD.
3 months' interest
IRD estimate
Penalty charged (greater of)
Important: penalty math varies significantly by lender, especially Big-6 posted-rate IRD. This is a rough estimate only — always request an official payout statement from your lender for the real figure. It's free.

FHSA

First Home Savings Account — growth and the tax refund from contributing.

Annual limit $8,000 · lifetime limit $40,000. The calculator caps contributions at these limits.
Projected at withdrawal
$46,000
Tax-free toward your first home, if used for a qualifying purchase.
Total contributed
Investment growth
Total tax refunds earned
Effective benefit vs. taxable
Contributions are tax-deductible; qualifying withdrawals (including growth) are tax-free. Lifetime cap $40,000. Not tax advice — confirm your situation with a tax professional.

A calculator can't read your whole situation. I can.

These numbers are a starting point. The right structure depends on details a form can't capture — let's talk through yours.

Book a discovery call →

All calculators on this page provide estimates for general information only. They do not constitute a mortgage pre-approval, commitment, quote, or guarantee of any rate, product, or amount. Results rely on the figures you enter and simplified assumptions, and do not reflect every lender rule, fee, or your specific financial circumstances. Calculations use Canadian semi-annual compounding for fixed rates, the federal stress test (the greater of your contract rate plus 2% or 5.25%), standard CMHC premium tiers, and Ontario land transfer tax rates and first-time buyer rebate current as of 2026. Actual figures are subject to lender qualification and a full review. Michael Gianopoulos is a licensed FSRA Mortgage Agent (Level 1) operating under BRX Mortgage.