Know the numbers before you fall in love with the home.

No. The mortgage line estimates principal and interest only. Property tax, insurance, utilities, condo fees and repairs should be reviewed separately before you decide whether the home is comfortable.

Your lender may use a different rate, payment frequency, compounding assumption, insurance premium, amortization or rounding. Use this as a planning estimate, then confirm the final payment with your lender or mortgage broker.

Yes. A different down payment can change the CMHC premium, total mortgage and monthly payment. That is why the payment tab shows four side-by-side scenarios.

Do both before touring. Payment tells you whether the home is comfortable monthly. Closing costs tell you whether you have enough cash to complete the purchase.

When the down payment is under 20 percent, the insurance premium is often added to the mortgage. That means you may borrow more than the purchase price minus your down payment.

Amortization is the full number of years used to pay the mortgage down to zero if the payment schedule and rate stayed as entered. A longer amortization usually lowers the payment but increases total interest.

Frequency changes how often payments are made. Monthly, weekly and bi-weekly payments can have different per-payment amounts, and accelerated options can pay the loan down faster.

The rate changes both the payment and the speed at which principal is paid down. Even a small rate difference can add up when the mortgage is large or the amortization is long.

No. It helps you test comfort and compare scenarios. A lender or mortgage broker still has to review income, debts, credit, documents and mortgage rules before confirming approval.

Not by itself. A low payment can still leave you tight after property tax, insurance, utilities, condo fees, repairs and savings. Use the number as a starting point, then stress-test the real monthly cost.

No. They usually pay Ontario land transfer tax only, unless the property is inside the City of Toronto boundary. The calculator now reads the location field and only applies Toronto MLTT for Toronto-area locations.

Toronto MLTT applies when the property is inside the City of Toronto. Toronto, North York, Scarborough, Etobicoke, East York and York are treated as Toronto areas here.

Not always. Ontario has a rebate up to $4,000 and Toronto has a rebate up to $4,475. On many GTA prices, the rebate helps but does not remove the full tax.

The purchase price is split into tax brackets. Each slice is taxed at its own rate, then eligible first-time buyer rebates are deducted. The Land Transfer Tax tab shows the bracket breakdown so a buyer can follow the math.

Your real estate lawyer confirms the final amount. This calculator is useful for planning, but your lawyer should confirm exact tax, rebate eligibility and closing adjustments.

Toronto properties can have Ontario land transfer tax and Toronto municipal land transfer tax. The municipal tax is separate, so the closing number can be much higher than a similar property outside Toronto.

The calculator treats those locations as part of the City of Toronto for this estimate. It will include Ontario LTT and Toronto MLTT and show a note under the location row.

The rebate appears only when First-time homebuyer is set to Yes and the residency selection supports the estimate. The note is there so the buyer knows the lower tax depends on that assumption.

No. Non-resident taxes depend on the buyer's status, property type, location and current rules. The calculator includes placeholder estimates, but a lawyer or tax professional should confirm your exact situation.

Yes. Your lawyer may include closing adjustments, title insurance, registration costs, rebates, exemptions or rule details that are outside this quick calculator. Use this for planning, not as the final statement of adjustments.

CMHC mortgage insurance is usually required when the down payment is less than 20 percent on an eligible insured mortgage.

The premium is usually added to the mortgage instead of being paid fully upfront. In Ontario, sales tax on the premium may be a cash closing cost.

Insured mortgage rules generally do not apply at $1.5 million and above. Buyers usually need an uninsured mortgage and a larger down payment.

Insured 30-year amortization rules can depend on borrower type and property type. Confirm carefully with your mortgage broker.

No. CMHC is one provider. Other mortgage default insurance providers include Sagen, formerly Genworth Canada, and Canada Guaranty.

At 20 percent down or more, a mortgage is usually uninsured by default, so this calculator shows no CMHC premium. Your lender can still explain whether any optional insurance product is being discussed.

Loan-to-value compares the mortgage before insurance with the purchase price. A higher loan-to-value usually means a higher premium rate because the down payment is smaller.

CMHC insurance is only one part of the lending process. The lender still reviews income, debt, credit, property details and documents before giving final mortgage approval.

If the premium is added to the mortgage, the payment is calculated on the larger insured mortgage amount. That is why the payment can change even when the purchase price and down payment look unchanged.

In Ontario, provincial sales tax can apply to the mortgage insurance premium and may be due as part of closing costs. Confirm the exact amount with your lawyer or lender before closing.