Toronto Mortgage Calculator
Estimate monthly payments for Toronto real estate, including both Ontario and Toronto Land Transfer Taxes.
Canadian Mortgage Paydown
Accelerate Your Financial Freedom
20.0%
Property Details (PITH)
Property Details (PITH)
Prepayment Options
Prepayment Options
No lump sum payments added.
Select the exact date you plan to make your lump sum prepayment. The engine will accurately apply it to the closest payment cycle.
Use this tool to calculate your mortgage payments and see how prepayments can save you thousands in interest. Canadian specific: Fixed rates compound semi-annually.
Regular Payment (monthly)
Balance Over Time
Yearly Composition
Complete Schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $43,254 | $13,104 | $866,896 |
| 2 | $42,591 | $13,767 | $853,129 |
| 3 | $41,894 | $14,464 | $838,665 |
| 4 | $41,161 | $15,196 | $823,469 |
| 5 | $40,392 | $15,966 | $807,503 |
| 6 | $39,584 | $16,774 | $790,729 |
| 7 | $38,735 | $17,623 | $773,106 |
| 8 | $37,842 | $18,515 | $754,591 |
| 9 | $36,905 | $19,453 | $735,138 |
| 10 | $35,920 | $20,437 | $714,701 |
| 11 | $34,886 | $21,472 | $693,229 |
| 12 | $33,799 | $22,559 | $670,670 |
| 13 | $32,657 | $23,701 | $646,969 |
| 14 | $31,457 | $24,901 | $622,068 |
| 15 | $30,196 | $26,162 | $595,906 |
| 16 | $28,872 | $27,486 | $568,420 |
| 17 | $27,480 | $28,877 | $539,543 |
| 18 | $26,018 | $30,339 | $509,203 |
| 19 | $24,482 | $31,875 | $477,328 |
| 20 | $22,869 | $33,489 | $443,839 |
| 21 | $21,173 | $35,184 | $408,654 |
| 22 | $19,392 | $36,966 | $371,689 |
| 23 | $17,521 | $38,837 | $332,852 |
| 24 | $15,555 | $40,803 | $292,049 |
| 25 | $13,489 | $42,869 | $249,180 |
| 26 | $11,319 | $45,039 | $204,141 |
| 27 | $9,039 | $47,319 | $156,822 |
| 28 | $6,643 | $49,715 | $107,107 |
| 29 | $4,126 | $52,231 | $54,876 |
| 30 | $1,482 | $54,876 | $0 |
Disclaimer: This calculator is for informational purposes only. Actual mortgage rates, taxes, and fees may vary based on lender, credit score, and location. Land Transfer Tax estimates are based on current provincial and municipal rates but do not account for all possible exemptions or regional variations. Always consult with a mortgage professional or financial advisor before making real estate decisions.
Scenario Breakdown
Based on the current inputs, if you are purchasing a $1,100,000 home in Ontario (Toronto) with an interest rate of 5%, your estimated base payment will be $4,696 (monthly).
Beyond the mortgage payment, your estimated Land Transfer Tax (LTT) for this transaction is $36,950. If you are a first-time home buyer, you may be eligible for significant rebates on this tax.
Over the remaining 30 years of this mortgage, you can expect to pay a total of $810,732 in interest, assuming the rate remains constant.
Use the prepayments tab in the calculator above to see how adding small monthly increases or annual lump-sum payments can drastically cut down this interest and help you become debt-free faster.
Frequently Asked Questions
How much is the land transfer tax in Ontario?
For a $1,100,000 home in Ontario, the estimated tax is $36,950. This varies based on whether you are a first-time buyer and if the property is located in a city with additional municipal taxes like Toronto.
What is the payment on a $1,100,000 mortgage at 5%?
Assuming a 30-year amortization and no down payment, the estimated regular payment would be $4,696 per monthly.
How much interest will I pay on a $1,100,000 mortgage?
Over the life of the loan at 5%, you would pay approximately $810,732 in total interest. This brings the total cost of the mortgage to $1,690,732.
Does land transfer tax apply to mortgage renewals?
No, Land Transfer Tax (LTT) generally only applies when the title of a property changes hands (a purchase). For a standard mortgage renewal or refinance with the same owner, you do not need to pay LTT again.
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