Ontario mortgage calculator
Compare Ontario mortgage scenarios with Toronto dual land transfer tax, CMHC PST at 8%, and stepped minimum down payment rules. Pre-loaded GTA and Ottawa tabs with closing cost breakdown.
Mortgage Terms
Monthly Homeowner Expenses
Extra Payments
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Amortization Schedule
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| Payment Date | Total | Principal | Interest | Expenses | Extra | Balance |
|---|---|---|---|---|---|---|
2026 | $36,700 | $5,966 | $16,733 | $14,000 | $0 | $634,034 |
2027 | $62,913 | $10,599 | $28,315 | $24,000 | $0 | $623,435 |
2028 | $62,913 | $11,086 | $27,828 | $24,000 | $0 | $612,349 |
2029 | $62,913 | $11,595 | $27,319 | $24,000 | $0 | $600,754 |
2030 | $62,913 | $12,128 | $26,786 | $24,000 | $0 | $588,627 |
2031 | $62,913 | $12,685 | $26,229 | $24,000 | $0 | $575,942 |
2032 | $62,913 | $13,267 | $25,646 | $24,000 | $0 | $562,675 |
2033 | $62,913 | $13,877 | $25,036 | $24,000 | $0 | $548,798 |
2034 | $62,913 | $14,514 | $24,399 | $24,000 | $0 | $534,283 |
2035 | $62,913 | $15,181 | $23,732 | $24,000 | $0 | $519,102 |
2036 | $62,913 | $15,879 | $23,035 | $24,000 | $0 | $503,223 |
2037 | $62,913 | $16,608 | $22,305 | $24,000 | $0 | $486,615 |
2038 | $62,913 | $17,371 | $21,542 | $24,000 | $0 | $469,244 |
2039 | $62,913 | $18,169 | $20,744 | $24,000 | $0 | $451,075 |
2040 | $62,913 | $19,004 | $19,910 | $24,000 | $0 | $432,071 |
2041 | $62,913 | $19,877 | $19,037 | $24,000 | $0 | $412,194 |
2042 | $62,913 | $20,790 | $18,123 | $24,000 | $0 | $391,404 |
2043 | $62,913 | $21,745 | $17,168 | $24,000 | $0 | $369,659 |
2044 | $62,913 | $22,744 | $16,169 | $24,000 | $0 | $346,915 |
2045 | $62,913 | $23,789 | $15,125 | $24,000 | $0 | $323,126 |
2046 | $62,913 | $24,882 | $14,032 | $24,000 | $0 | $298,244 |
2047 | $62,913 | $26,025 | $12,889 | $24,000 | $0 | $272,219 |
2048 | $62,913 | $27,220 | $11,693 | $24,000 | $0 | $244,999 |
2049 | $62,913 | $28,471 | $10,443 | $24,000 | $0 | $216,528 |
2050 | $62,913 | $29,779 | $9,135 | $24,000 | $0 | $186,749 |
2051 | $62,913 | $31,147 | $7,767 | $24,000 | $0 | $155,602 |
2052 | $62,913 | $32,578 | $6,336 | $24,000 | $0 | $123,024 |
2053 | $62,913 | $34,074 | $4,839 | $24,000 | $0 | $88,950 |
2054 | $62,913 | $35,640 | $3,274 | $24,000 | $0 | $53,310 |
2055 | $62,913 | $37,277 | $1,636 | $24,000 | $0 | $16,033 |
2056 | $26,214 | $16,033 | $181 | $10,000 | $0 | $0 |
$5,243 monthly payment
MONTHLY PAYMENT
Closing cost estimate for CALC 1
Cash due at closing beyond your down payment of $160,000 on $800,000. No CMHC premium on this tab.
| Line item | First-time buyer | Repeat buyer |
|---|---|---|
| Provincial land transfer tax | $8,475 | $12,475 |
| Ontario PST on CMHC premium (8%) | $0 | $0 |
| Legal fees | $1,750 | $1,750 |
| Title insurance | $325 | $325 |
| Home inspection | $500 | $500 |
| Closing adjustments | $1,750 | $1,750 |
| Total beyond down payment | $12,800 | $16,800 |
Ontario rules and closing costs
How Ontario closing costs differ from your payment
The Toronto tab models a $900,000 purchase with 20% down at 5.20% fixed. Land transfer tax is due in cash at closing, not in the monthly mortgage payment. Inside Toronto city limits, buyers pay provincial land transfer tax and municipal land transfer tax on the same graduated tiers. On $900,000, gross provincial tax is $14,475 before rebates. Toronto charges the same amount again as municipal land transfer tax, for $28,950 combined on a repeat buyer purchase.
First-time buyers who qualify can claim up to $4,000 off the provincial portion and up to $4,475 off the municipal portion. The Ottawa tab uses a $650,000 price with 10% down and CMHC insurance. Outside Toronto, only provincial land transfer tax applies: $9,475 gross on that price. Stepped minimum down payment rules mean a $650,000 home requires $40,000 down (5% on the first $500,000 plus 10% on the remainder), not a flat 10%.
When CMHC insurance applies, Ontario charges 8% provincial sales tax on the premium at closing. On the Ottawa scenario, a $18,910 premium triggers about $1,513 in PST due in cash. The premium itself capitalizes into the loan balance. Compare the Toronto and Ottawa tabs side by side to see how a higher GTA price with conventional financing stacks up against an insured Ottawa purchase with higher property tax mill rates.
Sources: Ontario Ministry of Finance, "Calculating Land Transfer Tax," accessed June 2026. URL: https://www.ontario.ca/document/land-transfer-tax/calculating-land-transfer-tax. Canada Mortgage and Housing Corporation, "CMHC mortgage loan insurance costs," accessed June 2026. URL: https://www.cmhc-schl.gc.ca/consumers/home-buying/mortgage-loan-insurance-for-consumers/cmhc-mortgage-loan-insurance-cost. See also our Ontario mortgage guide.