Land Transfer Tax Calculator:
http://www.realestatelawyers.ca/purchasing-property/land-transfer-tax-calculators.php
Note: All fields require
values with the exception of the following: fields indicated with a **
symbol only require values if the down-payment amount is less than20% of
the property price.
Financial Services Commission of Ontario Mortgage Check list and Understanding the Risks of Getting a mortgage
What is Mortgage Loan Insurance?
Mortgage loan insurance is typically required by lenders when homebuyers make a downpayment of less than 20%
of the purchase price. Mortgage loan insurance helps protects lenders against mortgage default, and enables
consumers to purchase homes with little or no downpayment — with interest rates comparable to those with a 20% downpayment.
For quick references purposes, CMHC and Genworth Financal Canada
insurance premiums are as follows: |
| up to 95% = 2.75% |
85.01%-90% = 2.00% |
80.01%-85% = 1.75% |
| 75.01%-80% = 1.00% |
65%-75% = .65% |
to 65%=.50% |