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Canadian rules · Semi-annual compounding
$650,000
$100K$3M
20%($130,000)
10%80%
4.79%
1%10%
25 years
Monthly Payment
$2,962
per month · 25-year amortization
Mortgage
$520,000
Total Interest
$368,745
over 25 yrs
Closing Costs
$11,475
Ontario LTT + legal
Stress Test
$3,575
at 6.79%
B-20 Stress Test
To qualify, your lender tests at 6.79%, the higher of your rate + 2% or 5.25%. Your qualifying payment would be $3,575/mo.
Closing Costs Breakdown
Ontario Land Transfer Tax$9,475
Legal fees (est.)$2,000
Total$11,475
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