Vazan Properties

Royal LePage Signature Realty, Brokerage

Saeed Vazan

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Calculators

Mortgage and closing cost calculator

Everything a purchase costs, from one set of answers — the land transfer tax, the mortgage payment, the insurance premium, and the cash you need on closing day. Fill in what you know and leave the rest.

The purchase

The price you are paying. Commas are fine.
Toronto charges its own land transfer tax on top of the provincial one, so this changes the answer.
What kind of property is it?This only changes the answer above $2 million.
Ontario refunds up to $4,000 of the land transfer tax to a first-time buyer, and Toronto refunds up to $4,475 more.

The mortgage

What you are putting down in cash. Type the number only.
Type 5.25, not 0.0525.
Twenty-five is usual; leave blank for that.
How often will you pay?An accelerated schedule pays thirteen monthly amounts a year instead of twelve, which finishes years early.
Fixed or variable?A fixed rate in Canada compounds twice a year by law; a variable rate compounds monthly.

Your incomeOptional

Only if you want the affordability answer. Nothing here is saved and nothing is emailed to anybody — but every answer appears in the web address, so the link is worth keeping to yourself.

Before tax, everyone on the mortgage.
Car loans, cards, lines of credit, support.
Roughly the annual bill over twelve.
A lender counts this too, and buyers forget it.