Calculators
Niagara Mortgage Calculators
Four calculators built around how Niagara files are actually underwritten: municipal property tax, Ontario land transfer tax, the 8% PST on default insurance, the stress test, break penalties and rental debt coverage.
Reviewed November 13, 2026 · Indicative figures, OAC
Which calculator answers your question
Each calculator uses the same rules a lender applies: Canadian semi-annual compounding for fixed rates, federal minimum down payments and insurance premiums, the OSFI stress test, and the approximate property tax rate of the Niagara municipality you pick. Every result can be saved as a link that reopens with your inputs, and sent to a licensed agent with one click.
- Municipalities with their own tax rate
- 12
- Monthly rate convention (fixed)
- (1 + r/2)1/6 − 1
- Qualifying rate
- 5.25% or rate + 2%
- Municipal LTT in Niagara
- $0
| Calculator | Answers | Main output |
|---|---|---|
| Payment & closing costs | What does this home cost me each month and on closing day? | Payment, premium, PST, LTT, tax, cash to close |
| Affordability & stress test | How much can I borrow? | Maximum price and mortgage, GDS, TDS |
| Renewal, penalty & refinance | Should I break, switch, wait or consolidate? | Penalty, interest saved, monthly savings |
| Rental cash flow & DCR | Does this rental carry itself and pass a lender? | NOI, cash flow, DCR, A-lender ratios |
Payment and closing cost calculator
Enter a municipality, price, down payment, amortization, frequency and rate. The calculator enforces the federal minimum down payment (5% of the first $500,000, 10% of the portion from $500,000 to $1,499,999, 20% at $1.5 million and up), adds the default insurance premium (2.80%, 3.10% or 4.00% by loan-to-value, plus 0.20% on a 30-year insured amortization), and shows the 8% PST on that premium as cash due on closing.
Formulas: monthly payment = P × i ÷ (1 − (1 + i)−n) with i = (1 + r/2)1/6 − 1; accelerated bi-weekly = monthly ÷ 2; bi-weekly = monthly × 12 ÷ 26; property tax = price × town rate ÷ 12; land transfer tax by Ontario brackets (0.5%, 1.0%, 1.5%, 2.0%, 2.5%) less up to $4,000 for first-time buyers; cash to close = down payment + LTT + PST + about $1,850 legal.
Affordability and stress test calculator
Enter household income, monthly debts, down payment, rate and municipality. The calculator finds the highest price at which both debt ratios pass at the stress-test rate, including the insurance premium and the town's property tax.
Formulas: qualifying rate = max(5.25%, contract rate + 2.00%); GDS = (qualifying payment + property tax + heat + 50% of condo fees) ÷ gross monthly income, limit 39%; TDS = (GDS costs + other debt payments) ÷ gross monthly income, limit 44%; credit cards counted at 3% of the balance.
Renewal, penalty and refinance calculator
Enter your balance, rate, months left in the term, fixed or variable, bank or monoline, home value and any debt to consolidate. It estimates the break penalty, the interest a lower rate would save over the rest of your term, and the monthly savings of a refinance up to 80% of value.
Formulas: three months' interest = balance × rate × 3 ÷ 12; IRD = (contract rate − comparison rate) × balance × years left, where a bank's comparison rate is today's posted rate minus your original discount; fixed penalty = the greater of the two; maximum refinance = 80% × value; debt payments counted at 3% of balances.
Student rental and duplex cash-flow calculator
Enter price, down payment, legal bedrooms or units, rent per room or unit and the rate. It deducts vacancy and operating costs, then compares the property's income with its mortgage the way different lenders do.
Formulas: NOI = gross rent × (1 − vacancy) − (property tax + insurance + utilities + maintenance + licensing); DCR = NOI ÷ annual debt service, with 1.10–1.20 a typical minimum; cash flow = NOI − debt service; A-lender add-back = income + 50% of gross rent.
Worked example: check the formulas by hand
Take $500,000 at 4.29% over 25 years. The monthly rate is (1 + 0.0429/2)1/6 − 1 = 0.3543%. Over 300 months the payment is $500,000 × 0.003543 ÷ (1 − 1.003543−300) = about $2,709.29. Stretch it to 30 years and the payment drops to about $2,460.33. At the 6.29% qualifying rate the 25-year payment would be about $3,285.72, which is the figure a lender tests against your income.
Land transfer tax on a $530,000 St. Catharines home: $275 + $1,950 + $2,250 + $2,600 = $7,075, or $3,075 for a first-time buyer after the $4,000 refund.
From estimate to approval
A calculator cannot see your credit report, verify your income or appraise the property. When the numbers look right, send them through the pre-approval page and a licensed agent will check them against current lender criteria and the rate board.
Frequently asked questions
Do the calculators use Canadian mortgage math?
Yes. Fixed-rate payments use semi-annual compounding, the Canadian convention: the monthly rate is (1 + r/2)^(1/6) − 1. A $500,000 mortgage at 4.29% over 25 years works out to about $2,709 a month.
Are Niagara property taxes built in?
Yes. Each of the 12 municipalities has its own approximate effective residential tax rate, used in the payment, affordability and rental calculators. Confirm the current rate with the municipality before relying on the figure.
Can I save or share a result?
Yes. Every calculator updates a link with your inputs, so you can bookmark it or send it to a partner, and it reopens exactly as you left it. You can also print a summary.
Do the calculators store my numbers?
No. The calculations run in your browser. Your numbers are only sent to us if you choose to submit the enquiry form, which includes your calculation link so the agent sees the same scenario.
Is a calculator result a pre-approval?
No. It is an estimate. A pre-approval requires a credit check, income documents and a lender's review. Rates are indicative, on approved credit, and change daily.
Pre-approval & rate review
Get your Niagara mortgage numbers checked
Tell us where you are buying or what you owe. We reply by email, usually within one business day, with options from across the lender tiers.
- A licensed advisor reviews your numbers against A-lenders, Ontario credit unions and alternative lenders.
- Rate holds of up to 120 days on purchases and renewals (lender-dependent).
- On prime files the lender pays the brokerage, so there is no fee to you; any fee on alternative or private files is disclosed in writing first.
- Nothing goes to a lender or credit bureau until you say so.
Prefer email? Write to hello@mortgageniagara.com.