This calculator helps you answer three basic questions:
- How much cash do I need upfront?
- What will this cost me every month?
- How much income do I need to qualify?
These numbers are for planning only. Confirm everything with your mortgage broker. Land transfer tax is based on a Toronto residential purchase. Part of your mortgage payment goes toward equity — think of it as forced savings you keep.
Frequently Asked Questions
- Is this calculator just for first-time home buyers? No. It works for anyone buying in Toronto — first-timers, move-up buyers, and investors using rental income.
- What Do Total Upfront Funds include? Down payment, Ontario and Toronto land transfer tax, typical closing costs, and optional renovation costs.
- How is the income to qualify calculated? We use a 44% Total Debt Service Ratio and include 70% of rental income toward qualification. Calculations are stress-tested using current rate and amortization assumptions.
- Can I use this to budget for a rental property? Yes. It shows what you need to invest upfront, your monthly carrying costs, and how rental income helps with both cash flow and mortgage qualification.
Want Help Buying Your Property?
We’ll walk you through exactly what you qualify for, what your costs will be, and how to make your next move make sense.