Tools
What do you need to work out?
Four calculators for the numbers that decide a move. Each one below shows a worked example. Open it to use your own figures.
01
Affordability
What you can borrow under the stress test, and what that buys.
Maximum mortgage
$623,000
Mortgage $623,000Down payment $200,000
Purchase power$823,000
Stress test rate6.50%
Total monthly$4,148
Example: $150,000 household income, $200,000 down, 4.5% rate.
Open the calculator
02
Closing costs
Everything due on closing day, land transfer tax first.
Due on closing
$16,525
Ontario land transfer tax$12,475
Legal fees$1,800
Title insurance, inspection, appraisal$1,450
Tax and utility adjustments$800
Example: $800,000 resale home in Oakville, not a first-time buyer.
Open the calculator
03
Carrying cost
What the home costs to hold, every month.
Every month
$4,069
Mortgage $3,119Property tax $500Utilities $300Insurance $150
Over a year$48,828
Example: $480,000 mortgage at 5.49% over 22 years, $6,000 a year in property tax.
Open the calculator
04
Net proceeds
What stays with you after the sale.
You keep
$450,475
Example: $850,000 sale, $350,000 left on the mortgage, 5% commission.
Open the calculator
Examples are estimates for planning, not financial or legal advice. Lenders, lawyers and the Province have the final numbers.