Land Transfer Tax


Use the table below to calculate the amount of land transfer tax you will have to pay. Land transfer tax is applied on the sale price only. This is a one time only tax that is payable to the Government based on the cost of your home. First time buyers get a rebate if they buy a new property from a developer. The following information can help you to calculate the land transfer tax in Ontario. This is for informational purposes only and we recommend that you speak with a professional to confirm the amount you will have to pay when buying a property.

 

Purchase Price Calculation of Land Transfer Tax
0 - $55,000 .005 x Amount
$55,001 - $250,000 (.01 x Amount) minus $275
$250,001 - $400,000 (.015 x Amount) minus $1,525
$400,000 + (.02 x Amount) minus $3,525

How Much Can You Afford?


Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying. Complete the fields below and click Calculate Now.

 

To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Copyright © Aros Realty LTD, Brokerage

Jim Straughan · Broker Of Record

22709 Jury Road · Komoka, Ontario N0L 1R0

 

 

Email: jim@straughan.ca · Office: 519.657.8899 · Cell: 519.872.6616

 

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