Find out what your monthly payments would be for your mortgage. Plug in the house price, down payment percentage, years to pay off mortgage and estimated mortgage rate, and you will see what your monthly payment will be.
Note: Tax refers to Property Taxes and PMI refers to Private Mortgage Insurance (normally required by lenders when a deposit of 20% or less is made on the purchase).
Seek out a local Mortgage Specialist or Broker for exact figures and more information.
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Monthly Debt and Obligations Should Include:
This Calculator will tell you what price you can afford to purchase. Enter in your gross family monthly income (before taxes), any required monthly debt expenses (loans, line of credits) and the total dollars you have to put in for a down deposit and it will tell you the total price of a house you can afford to buy.
Ontario’s Land Transfer Tax is a provincial tax payable by the purchaser upon the acquisition of an interest in land by registered conveyance or unregistered disposition. Therefore, if you purchase a property or land you are responsible for paying Land Transfer Tax to the province at the time the transaction closes.