Mortgage Payment Calculator

Calculate your mortgage payment with Canadian rates

Home Price

Down Payment

Mortgage Amount

Auto-calculated (home price - down payment)

Interest Rate

Amortization Period

Payment Frequency

Standard bi-weekly = same annual total as monthly. For accelerated bi-weekly (extra payment/year), see our prepayment strategies guide.

Monthly Payment

$2,571.83

Principal + Interest

Mortgage Amount $494,000

Includes CMHC if applicable

Down Payment $25,000

5.0% of home price

CMHC Insurance $19,000

4.0% of mortgage

Total Interest $277,549

Over 25 years

Total Cost

$777,549

Home price + Interest

Land Transfer Tax Calculator

Calculate the land transfer tax you'll need to pay when purchasing a property in Canada. Tax rates vary by province and are based on your purchase price.

Province

Tax rates vary by province

Property Purchase Price

Total purchase price of the property

I am a first-time home buyer First-time buyers may qualify for rebates or exemptions (varies by province)

Property is located in Toronto Toronto has an additional Municipal Land Transfer Tax

Total Land Transfer Tax

Based on a $0 property in Ontario

Provincial Tax

Ontario land transfer tax

First-Time Home Buyer Rebate

Check "First-time home buyer" to see available rebates

Net Tax After Rebate

Calculation Breakdown

Understanding Land Transfer Tax

Land Transfer Tax (LTT) is a one-time tax paid when you purchase a property. The amount is calculated based on the purchase price using marginal tax brackets (similar to income tax).

First-Time Home Buyer Rebates: Many provinces offer rebates or exemptions for first-time buyers. Ontario offers up to $4,000 provincial rebate, and Toronto offers up to $4,475 municipal rebate.

Toronto Municipal Tax: Properties in Toronto are subject to both provincial and municipal land transfer tax, making it one of the most expensive places to buy property in Canada.

Mortgage Amortization Calculator

See your complete payment schedule and understand how your mortgage balance decreases over time.

Mortgage Amount

Interest Rate (%)

Amortization Period (Years)

Mortgage Term (Years)

Payment Frequency

Standard frequencies = same annual total. For accelerated options, see our prepayment guide.

Payment Amount

$0.00

Total Paid

Total Interest

Total Payments

300

At End of 5-Year Term

Remaining Balance

Principal Paid

Interest Paid

Amortization Schedule (First 12 Monthly Payments)

Payment #	Payment	Principal	Interest	Balance
1	$0.00	$0.00	$0.00	$0.00
2	$0.00	$0.00	$0.00	$0.00
3	$0.00	$0.00	$0.00	$0.00
4	$0.00	$0.00	$0.00	$0.00
5	$0.00	$0.00	$0.00	$0.00
6	$0.00	$0.00	$0.00	$0.00
7	$0.00	$0.00	$0.00	$0.00
8	$0.00	$0.00	$0.00	$0.00
9	$0.00	$0.00	$0.00	$0.00
10	$0.00	$0.00	$0.00	$0.00
11	$0.00	$0.00	$0.00	$0.00
12	$0.00	$0.00	$0.00	$0.00

Refinance Calculator

Calculate how much equity you can access and what your new mortgage payments will be when refinancing your home. See if refinancing makes financial sense for you.

Current Mortgage Information

Current Home Value

Estimated current market value of your home

Current Mortgage Balance

How much you currently owe on your mortgage

New Mortgage Details

Additional Amount to Borrow

Cash you want to take out for renovations, debt consolidation, etc.

New Interest Rate (%)

Expected interest rate for your new mortgage

Amortization Period (Years)

Payment Frequency

Standard frequencies = same annual total. For accelerated options, see our prepayment guide.

Refinancing Costs (Optional)

Penalty to Break Current Mortgage

Early termination penalty (usually 3 months interest or IRD)

Other Closing Costs

Legal fees, appraisal, registration fees (typically $1,500-$3,000)

Available Equity

NaN% of home value

New Mortgage Amount

NaN% LTV

Net Cash Available

After all costs

Payment Comparison

Current Payment (estimated)

Based on current balance

New Payment

+$0/month

Total Refinancing Costs

Mortgage Penalty $0

Closing Costs $0

Total Costs $0

Refinance Summary

Borrowing

Paying

Receiving

Your home has $0 in equity. You can access up to 80% of your home's value through refinancing.

Understanding Mortgage Refinancing

Refinancing means replacing your current mortgage with a new one, typically to access your home equity or get a better interest rate. In Canada, you can borrow up to 80% of your home's value when refinancing.

Common Reasons to Refinance: Home renovations, debt consolidation, purchasing investment properties, funding education, or taking advantage of lower interest rates.

Breaking Your Mortgage: If you're still within your mortgage term, you'll likely face a penalty. This is typically 3 months of interest or the Interest Rate Differential (IRD), whichever is higher.

Is Refinancing Worth It? Consider the costs vs. benefits. If consolidating high-interest debt or the rates have dropped significantly, refinancing often makes sense even with penalties.

Plan Your Mortgage with Confidence

Mortgage Payment Calculator

Land Transfer Tax Calculator

Provincial Tax

Municipal Tax

First-Time Home Buyer Rebate

Calculation Breakdown

Understanding Land Transfer Tax

Mortgage Amortization Calculator

At End of 5-Year Term

Amortization Schedule (First 12 Monthly Payments)

Refinance Calculator

Current Mortgage Information

New Mortgage Details

Refinancing Costs (Optional)

Payment Comparison

Total Refinancing Costs

Refinance Summary

Understanding Mortgage Refinancing

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