Mortgage & Costs

Mortgage & Closing Cost Calculator

Put the payment, everyday costs and cash at closing in one place. A planning estimate, not a mortgage approval.

Your purchase, in numbers.

Illustrative defaults · all amounts in CAD. Your inputs stay in your browser.

Purchase price ($) Confirm the financing price and HST basis with your lawyer.Total down payment ($) General minimum: $65,000. Includes deposits already paid.Annual interest rate (%) Your editable assumption, not a quoted rate.Amortization

See payment and closing cash

Payment timing & extra payments

Payment frequencyExtra payment each period ($) Only if your lender permits this prepayment.

Monthly ownership costs

Property tax per month ($) Use the property’s assessed estimate, not a vacant land bill.Home insurance per month ($) Utilities per month ($) Condo / common element fees ($) Maintenance reserve per month ($)

Cash at closing & deposits

Deposits already paid ($) Part of your total down payment, not added twice.Ontario taxable consideration ($) May differ from advertised new home pricing. Ask your lawyer.Confirmed Ontario LTT refund ($) Enter 0 unless confirmed. Maximum $4,000; separate tax eligibility.Legal costs & disbursements ($) Closing adjustments ($) Enter quoted adjustments; actual amounts can differ.Other cash costs ($) Include additional HST or rebate liability, moving and other costs not entered elsewhere. Do not double count.

Insured mortgage eligibility

I meet the insured mortgage first time buyer definition.This is an eligible newly built home.

These flags only support the insured 30 year scenario. They do not establish eligibility for a tax refund, FHSA, Home Buyers’ Plan or GST/HST rebate. Confirm the mortgage definitions with your lender.

Bank of Canada reference

Conventional mortgage · 5 years

Checking the published mortgage reference…

A published chartered bank mortgage statistic, not the policy rate or a lender quote. Offered rates and terms differ. It does not change your entered rate.

Bank of Canada mortgage observations Bank of Canada Valet API

Room in the budget

Compare the payment at different rates.

Base payment each period. Illustrative comparisons, not forecasts or a regulatory stress test.

Your entered rate4.50%$3,985

Rate + 1 percentage point5.50%$4,395

Rate + 2 percentage points6.50%$4,823

View the amortization schedule

Estimated payoff: 25.0 years. Total interest: $475,502. Assumes your entered rate stays constant; renewals and lender calculations will differ.

Annual mortgage estimate
Year	Principal paid	Interest paid	Remaining balance
1	$16,045	$31,775	$703,955
2	$16,775	$31,045	$687,180
3	$17,538	$30,282	$669,642
4	$18,337	$29,484	$651,305
5	$19,171	$28,649	$632,134
6	$20,043	$27,777	$612,091
7	$20,955	$26,865	$591,135
8	$21,909	$25,911	$569,226
9	$22,906	$24,914	$546,320
10	$23,948	$23,872	$522,371
11	$25,038	$22,782	$497,333
12	$26,178	$21,642	$471,156
13	$27,369	$20,451	$443,787
14	$28,614	$19,206	$415,172
15	$29,917	$17,904	$385,256
16	$31,278	$16,542	$353,978
17	$32,701	$15,119	$321,277
18	$34,189	$13,631	$287,087
19	$35,745	$12,075	$251,342
20	$37,372	$10,448	$213,970
21	$39,072	$8,748	$174,898
22	$40,850	$6,970	$134,047
23	$42,709	$5,111	$91,338
24	$44,653	$3,167	$46,685
25	$46,685	$1,135	$0

Buying your first home

Know which support applies to you.

Each program has its own definition of a first time buyer. Savings withdrawals are your money, not grants. Nothing below is automatically applied to your estimate.

FHSA

Save for a qualifying first home.

Participation room starts at $8,000 in the year you open an account, with a $40,000 lifetime limit. Contributions are generally deductible; qualifying withdrawals are tax free and do not need repayment.

Eligibility & timing

Opening generally requires Canadian residency, age 18 or older and age 71 or younger at year end, plus the CRA’s home ownership and spouse tests. The opening and withdrawal definitions differ. A qualifying withdrawal requires a written agreement, intended principal residence and acquisition or completion before October 1 of the following year. You cannot have acquired the home more than 30 days before withdrawing.

CRA FHSA rules and contribution room Qualifying withdrawal conditions

RRSP Home Buyers’ Plan

Use retirement savings with a repayment obligation.

Eligible participants can withdraw up to $60,000 from their RRSPs and repay over 15 years. Amounts not repaid as required are included in income. This is not a grant or an additional tax deduction.

Eligibility & timing

Generally, you must meet the current year and previous four calendar year home occupancy test, including spouse ownership, have a written agreement, meet residency conditions and intend to occupy within one year. Prior participation, disability and relationship breakdown rules can differ. Acquisition is generally required before October 1 of the following year; withdrawal and recent contribution timing also matter.

The additional three year repayment deferral applies to first withdrawals in 2022 to 2025, not automatically to a 2026 withdrawal. Check your CRA repayment schedule and RRSP issuer before moving money.

CRA Home Buyers’ Plan eligibility Repayment rules and timing

Ontario land transfer tax refund

Reduce qualifying provincial transfer tax.

Up to $4,000, limited to tax payable and your eligible ownership share.

Eligibility & timing

Unlike the savings programs, you must never have owned an eligible home or interest in one anywhere in the world. Spouse ownership while you were spouses can disqualify the claim.

You must be at least 18 and meet citizenship or permanent residency requirements. Occupy as your principal residence within nine months of transfer and apply within 18 months. Have your lawyer confirm eligibility and the claim amount before entering a refund in the closing section.

Ontario refund eligibility and deadlines

First time buyers’ GST/HST rebate

Check the federal tax on an eligible new home.

The federal rebate covers 100% of GST or the federal part of HST on qualifying new homes valued up to $1 million. It reduces progressively above $1 million to below $1.5 million; none is available at $1.5 million or more. This is not a rebate of all Ontario HST.

Eligibility & timing

Generally, you must be at least 18, a Canadian citizen or permanent resident, and not have lived in a home owned by you or your spouse as your primary residence in the current or previous four calendar years. Neither you nor your spouse may have previously received this rebate.

For a builder purchase, the agreement must be entered into on or after March 20, 2025 and before 2031. Construction must begin before 2031, with substantial completion and ownership transfer before 2036. Primary residence, first occupancy and other CRA conditions apply; eligibility is assessed at transfer. Other purchase arrangements have different rules and application deadlines.

Ontario buyers may also qualify for provincial HST relief; check the current CRA conditions before assuming an amount.

New build pricing may already assume assigned rebates. Ask your lawyer and builder to confirm the price, rebate assignment and any repayment exposure. Do not subtract the same rebate twice or assume eligibility from the mortgage checkbox.

CRA federal rebate amounts Who can apply and purchase timing

Official CRA and Ontario sources checked 8 October 2026. Confirm your circumstances, deadlines and current rules with your lawyer, tax adviser and lender.

Read the estimate with context

Assumptions worth checking.

Mortgage calculations & insurance

Owner occupied purchase in Pickering with traditional down payment funds and a fixed nominal annual rate compounded twice a year. Below 20% down, the estimate finances the standard CMHC premium. Eligible insured 30 year scenarios include a 0.20 percentage point surcharge. The 8% Ontario tax on that premium is paid in cash.

Regular weekly and biweekly payments use equivalent periodic rates. Accelerated biweekly payments are half the monthly payment. Extra payments are added each period. Lender rounding, payment dates, prepayment limits and renewal rates may differ.

CMHC eligibility and minimum down payments CMHC premiums CMHC 30 year eligibility

Closing costs, taxes & new build pricing

Ontario land transfer tax uses your entered taxable consideration for a residential property with one or two single family residences. No Toronto municipal land transfer tax applies in this Pickering estimate. Additional taxes and restrictions, including nonresident rules, are not modelled.

No HST rebate or tax refund is assumed automatically. The entered Ontario refund is capped by the tax payable. Confirm the new home price and HST basis, assigned rebates, additional rebate liability and all applicable closing amounts with your lawyer. Savings withdrawals fund your down payment; they do not reduce the home’s price or create another refund.

Ontario land transfer tax Ontario insurance taxes

Calculation sources reviewed 7 October 2026. A calculator cannot confirm affordability or mortgage eligibility. How calculator and reference requests are handled.

Your purchase, in numbers.

Conventional mortgage · 5 years

Compare the payment at different rates.

Know which support applies to you.

FHSA

RRSP Home Buyers’ Plan

Ontario land transfer tax refund

First time buyers’ GST/HST rebate

Assumptions worth checking.

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