Mortgage Calculators That Turn Big Decisions Into Clear Numbers
Get a clear picture of your mortgage payments, the cash you need to close, and how much home fits your budget with the free Calculator Hub. Estimates only, subject to lender qualification and approval. Ready to talk through your numbers? Contact Karla or call 647-456-6864.
Not Sure Where to Start? Match the Tool to Your Question
Each calculator answers a different question. Find yours below.
What can I afford?
Start with Maximum Mortgage, then confirm with the Debt Service Calculator.
What would this house cost me monthly?
Use the Purchase Calculator with the listing price.
How much do I need to earn?
Run the Required Income tool with your target mortgage.
How much cash do I need on closing day?
Combine Closing Costs with the Land Transfer calculator.
Which offer should I take?
Put every scenario into Compare Side by Side before you sign.
What Calculators Can and Cannot Tell You
Calculators are planning tools. They are excellent at some jobs and unsuited to others.
What they do well:
- Show how payments change when rates, amortization, or down payments move.
- Reveal the full cost of closing before you commit to a purchase.
- Give you realistic numbers to bring into a conversation with a broker.
What they cannot do:
- Guarantee a rate. Posted rates and your qualified rate may differ.
- Assess your full credit picture the way a lender does.
- Replace advice. Two households with identical numbers may suit very different mortgage products.
A calculator also cannot tell you what to do after a decline. One lender’s no is not the final answer. A broker with access to banks, credit unions, and alternative lenders can often find a path a single institution cannot. Answers to common qualification questions are on the FAQ page.
Already Have a Mortgage? Plan Your Renewal Early
Calculators are just as useful at renewal as they are at purchase. Running your remaining balance through the Mortgage Calculator a few months before maturity shows what different renewal rates would mean for your payment. The free 130-day renewal reminder tool emails you well before your term ends, so you have time to shop instead of signing the first offer that arrives.
FREQUENTLY ASKED QUESTIONS
For more detailed answers, visit the full FAQ page.
Are mortgage calculators accurate?
Mortgage calculators are accurate for the numbers you enter but they produce estimates, not approvals. They cannot see your credit history, employment details, or the specific policies of each lender. Treat the results as a reliable starting point and confirm the final numbers with a licensed mortgage professional.
What is the minimum down payment in Canada?
The minimum down payment in Canada is 5% on the first $500,000 of the purchase price and 10% on the portion above that, up to the insured mortgage price cap. Homes above that cap require at least 20% down. The Purchase Calculator applies these rules automatically when you enter a price.
What are GDS and TDS ratios?
GDS and TDS are the two debt service ratios lenders use to measure affordability. Gross debt service compares your housing costs to your gross income, while total debt service adds your other debt payments such as car loans and credit cards. The Debt Service Calculator estimates both so you know where you stand before applying.
How much are closing costs in Ontario?
Closing costs in Ontario typically range from 1.5% to 4% of the purchase price. The largest items are usually land transfer tax, legal fees, title insurance, and adjustments for prepaid taxes or utilities. The Closing Costs calculator itemizes these so you can budget the exact cash needed on closing day.
Do first-time buyers get a land transfer tax rebate?
Yes, eligible first-time buyers may receive an Ontario land transfer tax refund of up to $4,000, and Toronto buyers may also qualify for a separate municipal rebate. The Land Transfer and Closing Costs calculators apply both automatically when you select the first-time buyer option. Eligibility rules and claim steps are outlined by the Ontario Ministry of Finance.
Why does payment frequency matter?
Payment frequency matters because accelerated biweekly or weekly payments squeeze in the equivalent of one extra monthly payment per year. That extra amount goes straight to principal, which may shorten your amortization and reduce total interest. The Mortgage Calculator lets you compare frequencies side by side.
Can I use these calculators for a renewal or refinance?
Yes, the calculators work for renewals and refinances as well as purchases. Enter your remaining balance, a prospective rate, and your remaining amortization to estimate your new payment. Comparing your renewal offer against current market scenarios often reveals room to negotiate.
Do I need to share personal information to use the tools?
No, the calculators do not require an account, a credit check, or any personal identification. You enter only the financial figures needed for the math, and you can change them as often as you like. Nothing you type affects your credit score.
What costs do most mortgage calculators overlook?
Most basic calculators estimate only principal and interest, but the true cost of buying includes land transfer taxes, legal fees, title insurance, appraisal fees, and mortgage default insurance. Closing costs in Ontario often run between 1.5% and 4% of the purchase price. The Closing Costs calculator itemizes these so nothing surprises you on closing day. Full land transfer tax rules are published by the Government of Ontario.