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In any good Property Analysis Tool, there will be a place for you to enter expected revenues, expenses, and a breakdown of down payment requirements with a mortgage calculation. However, this calculator also provides you with your projected CAP rate, DSR, and Return on Investment (ROI). I provide this property analyzer free to anyone who provides me with their name and email address.
In Ontario, Land Transfer Tax is required at the time of the acquisition of a property. It is part of the closing costs. Use this calculator to determine the amount that you will need to pay.
Ontario Land Transfer Tax Explained
0.5% – on the first $55,000
1.0% – on portion between $55,000 – $250,000
1.5% – on balance over $250,000
2.0% – on anything over $400,000
Qualifying first time buyers receive up to a $2000 credit
Toronto Land Transfer Tax Explained
0.5% – on the first $55,000
1.0% – on portion between $55,000 – $400,000
2.0% – on anything over $400,000
First time buyers are exempt on the first $400,000
You can calculate the approximate tax here: Land Transfer Tax Calculator
As with other Canadian mortgage calculators available, this will provide you with a precise amount of the monthly mortgage fees you will need to pay. The advantage of this calculator is that it includes up to a 30 year amortization that many investors can still obtain in a conventional mortgage.
You can calculate the approximate tax here: Mortgage Calculator Calculator