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Free Calculator — Updated 2025

Mortgage Calculator Toronto 2025

Use our free Toronto mortgage calculator to estimate your monthly payments. Average Toronto home price is $1.1M. See exactly what you'd pay.

$1,100,000
Avg. Toronto Home Price
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Min. Down Payment

Toronto Mortgage Calculator

Average Toronto home price: $1,100,000
Min. 5% for homes under $500K | 200% avoids CMHC insurance
Or enter a dollar amount directly
2025 average 5-year fixed rate: ~5.0000%–5.500%
Max 25 years for insured mortgages (under 200% down)
Estimated Monthly Payment
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CMHC Insurance Required: Down payment under 200%. Insurance premium added to mortgage principal.

Ontario Land Transfer Tax / Property Transfer Tax

Ontario + Toronto LTT: ~1.5% on first $55,000 + 2.00% up to $250,000 + 2.5% up to $400,000 + 2.5% over. Total ~$43,000 on a $1.1M home.

Toronto charges its own municipal land transfer tax on top of Ontario's provincial LTT. Together they can add $40,000–$50,000 to your closing costs on a Toronto home.

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FAQ — Mortgages in Toronto

What is the average home price in Toronto in 2025?
The average home price in Toronto is approximately $1,100,000 in 2025. Detached homes average $1.5M+, while condos average $700,000–$800,000. Prices vary widely by neighbourhood — downtown condos in the Entertainment District differ from homes in Scarborough or Etobicoke.
How much do I need for a down payment in Toronto?
For a $1.1M home in Toronto, you need at least 200% down ($220,000) since CMHC mortgage insurance isn't available on homes over $1.5M (and on homes $500K–$999K you need at least 100% on the portion over $500K). Most Toronto buyers aim for 200% to avoid CMHC premiums.
What is the Toronto land transfer tax?
Toronto buyers pay both Ontario provincial LTT and Toronto municipal LTT. On a $1.1M home, combined LTT is approximately $40,000–$43,000. First-time Toronto buyers can receive a rebate of up to $4,475 on the provincial LTT and up to $4,475 on the municipal LTT.
What mortgage rate should I use for a Toronto home purchase?
As of 2025, 5-year fixed mortgage rates range from 4.5%–5.5% depending on your lender and qualification. Variable rates are currently around 5.00%. Use a mortgage broker to compare rates from multiple lenders — even 00.25% savings on a $880,000 mortgage saves over $20,000 in interest.

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