Tools
Mortgage Calculator
You can determine a different monthly payment by changing the down payment, interest rate, or term and clicking the "Calculate" button.
Note: The monthly payment total is an estimate of principal and interest costs. Estimate excludes taxes and insurance costs that may apply. Also this calculator does not represent an application, a pre-approval, or commitment to lend.
Land Transfer Tax
Buyers in most areas will have to add Land Transfer Taxes to their closing costs.
Land transfer taxes are a part of the process unless you live in Alberta, Saskatchewan, or rural Nova Scotia. These taxes, levied on properties that are changing hands, are the responsibility of the buyer. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.
Many provinces have multi-tiered taxation systems that can sometimes be difficult to understand. If you buy a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.
