Buyer Cost of Ownership

Property & Mortgage

Purchase Price

Amortization

Mortgage Rate

Property Tax / yr

Down Payment 20% — $130,000

5%10%15%20%25%30%35%40%45%50%

Or enter exact amount

Or enter exact percentage

Monthly Costs

Condo / Maintenance Fees

Other Monthly Costs

Closing Cost Inputs

Land Transfer Tax — calculated from purchase price

Ontario Provincial LTT —

Total LTT Payable —

Legal Fees (est.)

Home Inspection

Other Closing Costs

Buying in the City of Toronto?

First-Time Buyer?

Monthly Ownership Summary

Total Monthly Cost

Based on 25-yr amortization

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per month

Mortgage Payment

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P + I

Principal / mo

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Equity building

Interest / mo

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Cost of borrowing

Condo Fees

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Monthly

Property Tax

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Monthly

Other Costs

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Monthly

Plain Language Summary

Enter your numbers above to generate a summary.

Upfront Closing Costs Estimates — confirm with your lawyer

Down Payment —

Land Transfer Tax — Ontario (Provincial) —

Ontario FTB Rebate (up to $4,000) —

Land Transfer Tax — Toronto (Municipal) —

Toronto FTB Rebate (up to $4,475) —

Legal Fees —

Home Inspection —

Other —

Total Cash Needed to Close —

Note on principal: A portion of every mortgage payment goes directly toward paying down your loan balance — this is equity you own, not an expense. The interest portion is the true cost of borrowing. Over time, as your balance decreases, the principal share grows and the interest share shrinks.

Tom Storey

The Storey Team — Royal LePage Signature

Total Cost of Ownership Calculator