THE INTERACTIVE LEARNING COLLECTION
Explore ownership costs and renewal scenarios.
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Province recorded for the scenario. Enter local transfer taxes and premium tax explicitly; no exemption is assumed.
COMPLETE MONTHLY OWNERSHIP
This scenario uses approximately 53.1% of entered take-home income.
These figures are not net-wealth forecasts. No appreciation, rent increases, investment returns, selling costs or income-tax effects. Equity is not cash available without selling or borrowing.
Only a lender can determine qualification. Ratios are educational illustrations, not approval thresholds.
Canadian fixed-rate illustration: monthly rate = (1 + quoted annual rate ÷ 2)^(1/6) − 1. Payment amortizes the base loan plus applicable insurance premium. Variable mortgages may use different conventions. GDS includes the stress-rate payment, property taxes, heating and 50% of condo fees, divided by monthly gross income; TDS adds other debt payments. Utilities include heating, so it is not double-counted in ownership costs. Closing cash includes down payment, entered closing costs, transfer taxes and entered premium tax. Province-specific transfer taxes and premium sales tax must be entered; zero does not mean exempt. Insured amortizations over 25 years are modelled only when the relevant eligibility assumption is checked. The illustration omits special property types, non-traditional down payments, lender fees, rebates and prepayments. The entered rate is held constant through the ownership comparison, including after the first term; actual renewals can change it. Mortgage payments stop at the end of amortization, while operating costs and rent continue through the full comparison period. Negative equity means the modelled balance exceeds the unchanged home value.
Saving is optional. Saved scenarios stay separate from payment records.
For educational purposes only. Not financial, investment, tax or legal advice. Hypothetical results depend on the assumptions entered and are not recommendations, approvals, guarantees or predictions. Results exclude circumstances and costs not entered.
Information may change. Reviewed values are educational references, not personal contribution room or eligibility decisions.