Ontario Mortgage Calculator guide
The Ontario mortgage calculator helps buyers and refinancers across Canada’s most populous province estimate monthly payments with local tax and insurance assumptions. Ontario uses a 25-year maximum amortization for insured mortgages and often for uninsured as well. We prefill CAD $750,000, 20% down, and a 5.4% rate. Property tax rates vary by municipality—Toronto and the GTA typically range from 0.5% to 1.1%; we use 1.1% as a baseline.
Land transfer tax applies in Ontario and is higher in Toronto (municipal plus provincial). The calculator focuses on ongoing housing costs; you can use our land transfer tax calculator for upfront costs. CMHC or other default insurance applies when putting less than 20% down—we model it as PMI. The stress test requires qualifying at the higher of your contract rate plus 2% or 5.25%, so ensure your budget allows for that.
Extra payments and biweekly schedules work as on our main calculator. The amortization table shows principal, interest, taxes, and insurance. All math runs client-side. Install the PWA for offline use.