Mortgage & Closing Cost Calculator

Get a complete breakdown of your home purchase costs in Ontario

Property Details
$
$100K$3M

$160,000

5%50%
Mortgage Details
%

Monthly Payment

$3,723

Principal & Interest Only

Total Mortgage

$640,000

Total Interest (25 yrs)

$476,827

Total Cash Needed to Close$175,775
Down Payment: 91%
Cost Breakdown

Down Payment

Down Payment (20%)$160,000

Land Transfer Tax

Ontario Land Transfer Tax$12,475
Total Land Transfer Tax$12,475

Other Closing Costs (Estimated)

Legal Fees

Lawyer & registration

$2,000
Title Insurance

Protects against title defects

$400
Home Inspection

Pre-purchase inspection

$500
Appraisal Fee

Lender requirement

$400
Total Other Costs$3,300
Down Payment$160,000
Land Transfer Tax$12,475
Other Closing Costs$3,300
Total Cash Required$175,775

Important Notes:

  • This calculator provides estimates only. Actual costs may vary.
  • Property taxes and home insurance are not included in the payment.
  • Interest rates shown are based on Bank of Canada policy rate plus typical spreads.
  • Consult with a mortgage professional for accurate quotes.
  • Land transfer tax rates are current as of 2024.