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  1. Deposit check (certified) with the offer to purchase, which forms part of down payment.
  2. Notary fees (between $1,100 and $1,350) plus summary costs plus applicable taxes (GST & QST).
  3. Adjustment of municipal taxes and water consumption taxes (January to December).
  4. Adjustment of school taxes (July to June).
  5. Adjustment s may be required for rented equipment (propane tank, hot water heater, alarm system, etc.)
  6. If the purchased property is a condo, there may be an adjustment for prepaid condo fees and/or an adjustment to the reserve fund, at the closing.
  7. Oil costs, if applicable. One full tank holds approximately 909 litres at current market rate.
  8. Transfer (Welcome) tax is based on the higher of the selling price or the municipal evaluation, as follows: 0.5% on the first $50,000; 1.0% on the difference between $50,000 and $250,000; 1.5% on the balance over $250,000. On the island of Montreal only, an additional .5% is charged on any balance over $500,000.
  9. Appraisal and application fees for mortgage, which typically do not exceed $250 plus applicable taxes. Most banks waive this fee.
  10. Building inspection fees typically range between $375 and $500 plus applicable taxes. These fees include a written report.
  11. A Canadian Mortgage and Housing Corporation (C.M.H.C.) premium for a high ratio mortgage (0.5% to 4.25% of the mortgaged amount) plus 9.0% tax on the premium. There is a C.M.H.C. charge of approximately $235 for opening the file.
  12. Property insurance is mandatory and proof will be required by the notary at the signing. 


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Estimate Insurance to of Cost
Estimate Tax to of Cost
Optional Fields
Receive Detailed Analysis  Receive this Detailed Analysis

Your Monthly Payments
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
Cost of House = [(Monthly income x Debt Ratio) –
monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %