What will this home really cost per month? Go beyond the mortgage payment — see the full picture.
For planning purposes only. Not a mortgage approval or lending commitment.
No CMHC insurance required — your 20%+ down payment means no additional premium on your mortgage.
This tool is for planning purposes only and is not a mortgage approval or lender commitment. Always consult a licensed mortgage professional and accountant before making financial decisions.
Know exactly what you can afford before you start your search. Our trusted partner Angie Alvarez at Capital Home Lending will guide you through the pre-approval process — no obligation, no pressure.
Get Your Pre-ApprovalYou'll be connected directly with Angie Alvarez at Capital Home Lending
In Ontario, you pay land transfer tax on every property purchase. On an $850,000 home that's approximately $13,975 — due on closing day. First-time buyers get a rebate of up to $4,000.
If your down payment is under 20%, CMHC insurance is required. The premium (2.80–4.00% of the mortgage) is added to your loan — meaning you pay interest on it for the life of your mortgage.
Legal fees, title insurance, home inspection, and closing adjustments typically add $3,500–$8,000+ to your closing day costs. Budget 1.5–3% of your purchase price above your down payment.
Industry rule of thumb: budget 1% of your home's value per year for maintenance. On an $850K home that's ~$708/month set aside — most first-time buyers don't account for this at all.
Detached homes in Burlington and Hamilton typically cost $180–$350/month in heating alone. Add hydro, water, and internet and you're often looking at $400–$600/month total.
Home insurance is required by lenders and ranges from $100–$250/month depending on coverage, location, and the age of the home. Older homes and homes near water typically cost more.
We can help you find homes that align with your budget, lifestyle, and real monthly carrying costs — not just your pre-approval. Laura and Kristina serve Burlington, Hamilton, Waterdown, Ancaster, Dundas, Stoney Creek, and surrounding markets.