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- 1Estimate: how much you can borrow, monthly payment, cash needed (optional)
- 2Practice application: just amount and loan type, no name or phone
- 3Leave an email only if you want to lock a rate; you decide when to talk to an advisor
Not filled in yet: tools are showing sample numbers (Ontario · City of Toronto reference price). Enter where and how much, and every tool uses yours.
- Where
- Home price$
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How much home can I afford?
1Enter your income and monthly costs
Other monthly costs (optional)Property tax, condo fees, heating: estimated at $417/month
2Enter your mortgage details
You can afford a home with…
A maximum purchase price of
$574,089
A more comfortable price is about $496,367
The figure above is the most a lender may approve; this one keeps housing near 32% of income and all debts near 40%.
Based on
- Minimum down paymentYour down payment $100,000$32,409
- Monthly payment$2,899
- Total mortgageIncludes insurance premium of $13,274$487,364
- Qualifying rate7.23%
- Property tax / month (est.)$367
- Extra monthly debt you could carryTotal debts stay within 44% of income$500
True monthly cost of owning
- Principal + interest$2,899
- Property tax$367
- Heating$50
- Maintenance reserve$478
- Home insurance$120
Maintenance at about 1% of the price a year and insurance about 0.25%; 42% of owners say they underestimated these costs.
See the yearly schedule
| Year | Principal | Interest | Year-end balance |
|---|---|---|---|
| 1 | $9,799 | $24,986 | $477,565 |
| 2 | $10,318 | $24,466 | $467,247 |
| 3 | $10,864 | $23,920 | $456,383 |
| 4 | $11,440 | $23,344 | $444,943 |
| 5 | $12,046 | $22,738 | $432,897 |
| 6 | $12,684 | $22,100 | $420,212 |
| 7 | $13,357 | $21,428 | $406,856 |
| 8 | $14,064 | $20,720 | $392,791 |
| 9 | $14,809 | $19,975 | $377,982 |
| 10 | $15,594 | $19,190 | $362,388 |
| 11 | $16,420 | $18,364 | $345,968 |
| 12 | $17,290 | $17,494 | $328,677 |
| 13 | $18,206 | $16,578 | $310,471 |
| 14 | $19,171 | $15,613 | $291,300 |
| 15 | $20,187 | $14,597 | $271,113 |
| 16 | $21,256 | $13,528 | $249,857 |
| 17 | $22,383 | $12,402 | $227,474 |
| 18 | $23,569 | $11,216 | $203,906 |
| 19 | $24,817 | $9,967 | $179,089 |
| 20 | $26,132 | $8,652 | $152,956 |
| 21 | $27,517 | $7,267 | $125,440 |
| 22 | $28,975 | $5,809 | $96,465 |
| 23 | $30,510 | $4,274 | $65,955 |
| 24 | $32,126 | $2,658 | $33,829 |
| 25 | $33,829 | $956 | $0 |
Estimate: qualifying rate = higher of contract rate + 2% or 5.25%; GDS 39% / TDS 44%; standard CMHC premiums; property tax from typical local rates. Subject to lender approval.
How much do I need to buy a home?
Enter a price to see the down payment, each closing cost, total cash to prepare and the household income you'd need (estimated for the area you pick).
benchmark · 2026-10 · TRREB Market Watch（大多伦多综合基准价）
Property tax estimate: about $6,520 – $8,821 a year (≈ $639/month), using a typical residential rate of about 0.77% × price. Actual tax depends on the city's assessment and that year's rate.
More options (debts, property tax, legal fees…)
Total cash to prepare
$114,910
Cash breakdown
- Down payment7.5%$75,000
- Provincial land transfer tax / registrationOntario · City of Toronto$16,475
- Municipal land transfer taxOntario · City of Toronto$16,475
- Provincial tax on insurance premium8% provincial sales tax on the premium (ON 8%, QC 9%, SK 6%), paid in cash at closing; it can't be added to the mortgage$2,960
- Legal fees$2,000
- Inspection / appraisal$500
- Title insurance, moving, adjustments$1,500
Total$114,910
Mortgage and income needed
- Principal (price − down payment)$925,000
- Mortgage insurance premium (added to loan)Under 20% down; premium 4.00%$37,000
- Total mortgage$962,000
- Monthly payment (contract rate)$5,722
Household income needed
$234,282
At the 7.23% qualifying rate, GDS ≤ 39% and TDS ≤ 44%.
Estimates only: transfer taxes use published provincial / municipal rates (first-time buyer relief applied for Ontario, Toronto, BC and PEI); premiums use standard CMHC rates; property tax uses typical local rates; legal and other fees are typical estimates you can change. Actual costs are confirmed by your lawyer and lender.
Before you apply
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