What will it actually cost?

Payments, mortgage insurance and Ontario land transfer tax, worked out the way a lender does it — semi-annual compounding, the federal minimum down payment schedule, and the provincial LTT brackets.

Purchase price$749,000

$200K$2.5M

Down payment$149,800 (20%)

5%50%

Rate4.90%

Amortisation

Payment frequency

First-time buyer (Ontario LTT rebate, up to $4,000)

Try it against a real listing:

YOUR PAYMENT

$3,450.95

per month

Down payment: $149,800
Mortgage insurance: Not required at 20%+
Total mortgage: $599,200
Interest over the full term: $436,084

Cash you need on closing

Ontario land transfer tax: $11,455
Legal fees and disbursements: $2,200
Home inspection: $650
Title insurance: $450
Closing costs: $14,755
Plus your down payment: $164,555

These figures are illustrative and rounded. Barrie, Orillia and the surrounding townships don't levy a municipal land transfer tax, so only the provincial amount applies. Your lender's qualification, your lawyer's account and the actual premium may differ — get a real quote before you make an offer.

Talk to us about financing