Get a clear breakdown of how much cash you need to buy in Toronto, what your monthly payments will be, and how much mortgage you can qualify for — including rental income if applicable.
Enter your numbers in Step 1 and Step 2 to calculate your upfront investment, carrying costs, and borrowing power. Whether you’re buying your first home, moving up or investing, this gives you the financial clarity you need to make a confident decision.
These numbers are for planning only. Confirm everything with your mortgage broker. Land transfer tax is based on a Toronto residential purchase. Income needed assumes a 44% Total Debt Service Ratio and includes 70% of rental income. 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.