Amortization
First-Time Buyer
GTA typical: 50–65% of purchase price. Check aboutmyproperty.ca for your address.
Recommended Maintenance Reserve
$583/mo1% of home value per year, set aside for repairs and replacements. This is not includedin the Total Monthly Cost — it's a savings recommendation, not a bill.
Your total with maintenance savings: $4,518/mo
Total Monthly Cost
$3,935
+ $583/mo recommended maintenance savings(1% of home value annually — not included above)
Total Cash Needed at Closing
$153,525
Total Mortgage
$560,000
Monthly Payment
$2,973/mo
CMHC Premium
Not required
Down Payment
$140,000
20.0% of purchase price
Interest Paid (5yr)
$106,649
Balance After 5yr
$488,263
87.2% remaining
How is this different?
Built for Ontario buyers, not generic mortgage math.
MPAC-Based Property Tax
We use MPAC assessed values, not listing price. Most calculators overestimate your tax by 40%.
True Monthly Cost
Mortgage + property tax + insurance + utilities + condo fees + internet. One real number.
CMHC Made Clear
See exactly how much CMHC insurance adds, including the 30-year surcharge.
HomeVerdict is growing
The cost calculator is just the start. Here’s what’s next for Ontario homebuyers.
Affordability Checker
Enter your income and debts to see exactly how much home you qualify for under the OSFI stress test.
Rent vs Buy
Compare the true 5-year cost of renting vs. buying for any Ontario property — including appreciation scenarios.
Budget Planner
Map your full post-purchase budget: net income, home costs, savings targets, and leftover cash.
School Finder
Find schools by religion, language, and your children's ages. Includes EQAO scores for every school.