Ontario Land Transfer Tax Calculator
Key Terms
Ontario LTT
A provincial tax charged by the Government of Ontario on the purchase of real estate. The amount is based on the property’s purchase price and is payable by the buyer at closing.
Toronto MLTT
An additional land transfer tax charged by the City of Toronto on top of the Ontario Land Transfer Tax. It applies only to properties located within Toronto’s city limits and is calculated using similar tax brackets to the provincial tax.
FTHB Rebates Applied
A reduction in land transfer tax available to eligible first-time home buyers. In Ontario, the rebate can be up to $4,000 off the provincial tax. In Toronto, an additional rebate of up to $4,475 may apply to the municipal tax. These rebates can significantly reduce — and in some cases eliminate — the total amount of land transfer tax owed.
Mortgage Affordability Calculator
Mortgage Affordability (Ontario)
Estimate your maximum purchase price using Canada-style GDS/TDS with a stress-tested payment (higher of contract + 2% or your floor).
Mortgage Affordability Calculator (Ontario)
Estimate the maximum purchase price you may qualify for based on your income, debts, and Canada-style GDS/TDS limits. Uses a stress-tested payment (higher of contract rate + 2% or the minimum you set).
Mortgage Affordability Calculator
Buy Smart - Know What You Can Afford
House-hunting? First, find your comfort zone. Our Mortgage Affordability Calculator gives you a clear estimate of how much mortgage you can realistically afford—based on your income, debts, down payment, and local market variables. That way, you shop for homes within reach and avoid overstretching your budget.
How It Works
1. Enter your active financial details:
2. Choose your market:
Ontario (default)
City of Toronto (to account for MLTT adjustments or specific mortgage rules)
3. Adjust your preferences:
Desired mortgage term (e.g. 25 years), interest type, amortization period
4. Run the calculation:
Get your estimated maximum affordable mortgage amount
Mortgage Affordability Calculator (Ontario)
Estimate the maximum purchase price you may qualify for based on your income, debts, and Canada-style GDS/TDS limits. Uses a stress-tested payment (higher of contract rate + 2% or the minimum you set).
This tool gives you an instant look at your eligibility for the first time home buyer rebates.
Keep in mind that results are for informational purposes only - your exact rebate
amount may depend on additional factors. For exact guidance, speak with a qualified
real estate lawyer below.
Why This Calculator Helps
Budget with confidence – Know what’s manageable before talking to lenders.
Stay realistic – See how debts and interest rates affect affordability.
Tailored to Ontario/Toronto – Reflects local lending guidelines and taxes.
Lawyer-approved – Designed by Pranzitelli Law Firm to match real-world closing scenarios.
Key Mortgage Metrics Explored
Gross Debt Service (GDS)
The portion of your income that goes toward housing costs—mortgage, property taxes, heat, condo fees—usually capped around 32–39%.
Total Debt Service (TDS)
Your overall debt load—housing plus any other obligations—typically capped around 40–44%.
Interest Rate Sensitivity
See how a 0.5% change in rate affects your monthly payment to plan for market shifts.
Down Payment Impact
Learn how a larger down payment lowers payments and may improve your financing terms.
FAQ's
Can I use this tool if I’m a first-time buyer?
Absolutely! The calculator is ideal for estimating what you can afford—even with Ontario LTT rebates accounted for separately in closing cost planning.
Are default interest rates up to date?
Yes. We update default average rates monthly to keep your estimate aligned with the current market, but always double-check with your lender for official numbers.
Why does the tool consider debts?
Lenders look at your debt-to-income ratios to assess risk. If your monthly liabilities are high, you may be eligible for a smaller mortgage—even with a high income.
What To Do After Estimating
Use the calculator to determine your maximum affordable mortgage and monthly payment
Book a complimentary chat with the Pranzitelli Law Firm team. We’ll review your scenario, show you closing cost estimates, and guide you through the legal steps of your purchase
Work with your lender using your affordability number to get a pre-approval and narrow your home search smartly
Buying within your means today means peace of mind tomorrow. Use the Mortgage Affordability Calculator and take the guesswork out of your search—only with Pranzitelli Law Firm
We strive for Customer Satisfaction. Coming from in-depth understanding of the law and the industry, capitalizing on extensive experience, we provide hands-on advice that speaks the language of our client’s needs. No matter if your case is large or small, we treat your matter with importance, integrity and hard work, your success is our satisfaction.
Contact Us
(Local | Toll Free | Email)
Local
905 - 266 - 2633
Toll Free
Email
[email protected]
Our Addresses
(Vaughan | Toronto | London)
Toronto | Mississauga | Brampton | Vaughan | Hamilton | Markham | Oakville | Burlington | Kitchener | London
This site is not legal advice. We occasionally use content and information that is prepared by AI. Including but not limited to technology from Gemini, Chat GPT, Grok, Canva, and other technologies from Open AI. Always consult with a lawyer regarding specific legal questions and advice. Give us a call at 905-266-2633 to set up a consultation
Copyright © 2025 Pranzitelli Law Firm | All rights reserved
What is Long-Term Disability (LTD) Insurance
Long-Term Disability insurance provides financial support to individuals who are unable to work for an extended period due to illness or injury. It helps cover a portion of your lost income during your recovery.
How Do I Qualify For Long-Term Disability Benefits In Ontario?
To qualify for LTD benefits, you generally need to have a medical condition that prevents you from performing the essential duties of your job. You must also meet any specific requirements outlined in your insurance policy, such as waiting periods and providing medical documentation.
What Types Of Conditions Are Covered Under Long Term Disability Insurance?
LTD insurance typically covers a wide range of medical conditions, including physical injuries, chronic illnesses, mental health disorders, and serious diseases. It's important to review your policy for specific coverage details.
How Long Can I Receive Long-Term Disability Benefits?
The duration of LTD benefits depends on your insurance policy. Some policies provide benefits until you reach a certain age (e.g., 65), while others may have a set time limit (e.g., two years). Your policy will specify the maximum benefit period.
What Should I DO If My Long-Term Disability Claim Is Denied?
If your LTD claim is denied, you have the right to appeal the decision. It's important to review the denial letter carefully, gather additional medical evidence, and consider seeking legal advice to help strengthen your case and navigate the appeals process.
We strive for Customer Satisfaction. Coming from in-depth understanding of the law and the industry, capitalizing on extensive experience, we provide hands-on advice that speaks the language of our client’s needs. No matter if your case is large or small, we treat your matter with importance, integrity and hard work, your success is our satisfaction.
Contact Us
(Local | Toll Free | Email)
Local
905 - 266 - 2633
Toll Free
Email
[email protected]
Our Addresses
(Vaughan | Toronto | London)
Toronto | Mississauga | Brampton | Vaughan | Hamilton | Markham | Oakville | Burlington | Kitchener | London
This site is not legal advice. We occasionally use content and information that is prepared by AI. Including but not limited to technology from Gemini, Chat GPT, Grok, Canva, and other technologies from Open AI. Always consult with a lawyer regarding specific legal questions and advice. Give us a call at 905-266-2633 to set up a consultation
Copyright © 2025 Pranzitelli Law Firm | All rights reserved
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