Can you afford to buy a home in Toronto right now?
Whether you’re buying your first home, moving up, or investing in a rental property — this free Toronto mortgage calculator gives you the full picture:
- ✔️ Total upfront funds (down payment, land transfer tax, closing costs)
- ✔️ Monthly carrying costs (mortgage, taxes, utilities)
- ✔️ Income needed to qualify for financing
- ✔️ Optional renovation financing built right in
No guesswork. Just clear numbers so you can plan confidently.
These results are estimates only and should be used for planning purposes. Land transfer taxes are based on Toronto residential properties with no more than two single-family units, purchased on or after March 1, 2017. Income required to qualify is calculated using a Total Debt Service Ratio (TDSR) of 44%.
Frequently Asked Questions
Is this calculator just for first-time home buyers?
No — it works for anyone buying in Toronto, including investors and move-up buyers.
What costs are included?
We include down payment, land transfer tax, closing costs, renovation funds, and monthly operating costs like property tax and utilities.
How is the income to qualify calculated?
We use a 44% Total Debt Service Ratio (TDSR), assuming stressed-tested current interest rates and amortizations.
Can I use this to budget for a rental property?
Yes. If you’re investing, this helps you understand your capital needs and monthly obligations before you buy.
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.