The home
Most of these numbers are on the listing.
Your real monthly cost
Enter a price, down payment and rate to see your real monthly cost.
Mortgage payment
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Real monthly cost
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The mortgage payment is only part of it. Add property tax, condo fees, utilities, insurance and upkeep, and the real number can be hundreds or thousands higher. See it before you fall in love with a listing, and check whether you'd pass the stress test.
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Most of these numbers are on the listing.
Enter a price, down payment and rate to see your real monthly cost.
Mortgage payment
Real monthly cost
The costs buyers most often underestimate, and how to check them before you offer.
Some include heat, hydro and water; others cover only the building. A higher fee with everything included can cost less overall. Compare the all-in number.
Condo fees often rise every year, and property tax follows your city's budget. Read the status certificate and the reserve fund study before you firm up.
Roofs, furnaces and windows don't send warning letters. Setting aside about 1% of the home's value a year keeps a big repair from becoming a crisis.
Lenders check that you could still pay at your rate plus 2 points, or 5.25%, whichever is higher. It decides how much you can borrow, not what you'll pay.
Mortgage default insurance is added to your loan, and Ontario charges 8% sales tax on it, which you pay in cash at closing.
Buying in the City of Toronto means paying both Ontario's and Toronto's land transfer tax. First-time buyers get rebates on both.
We'll help you set a comfortable budget, compare buildings by their all-in cost, and read the status certificate with you, so the home you buy fits your life, not just your approval.