Ottawa mortgage calculator
Ottawa buyers pay Ontario land transfer tax but no municipal tax. Calculate payments, CMHC insurance and your cash to close.
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Example costs at three prices
Example prices, not market averages. Minimum down payment, 4.49% rate and 25-year amortization; transfer tax is before any first-time buyer rebate.
| Home price | Minimum down payment | CMHC premium | Total mortgage | Monthly payment | Transfer tax |
|---|---|---|---|---|---|
| $500,000 | $25,000 | $19,000 | $494,000 | $2,731 | $6,475 |
| $650,000 | $40,000 | $24,400 | $634,400 | $3,508 | $9,475 |
| $800,000 | $55,000 | $29,800 | $774,800 | $4,284 | $12,475 |
Buying a home in Ottawa: what’s different
- Ontario land transfer tax only. Ottawa has no municipal land transfer tax. In Ontario, that second tax applies only in the City of Toronto.
- First-time buyers can get up to $4,000 of the tax refunded.
- 8% sales tax on the CMHC premium is due in cash at closing and can’t be added to the mortgage.
On a $650,000 home with the minimum down payment, land transfer tax is $9,475 and the sales tax on the premium is $1,952. Budget for both on top of your down payment. The closing costs calculator adds up the rest.
Frequently asked questions
Does Ottawa have a municipal land transfer tax?
No. Buyers in Ottawa pay only the Ontario land transfer tax. The City of Toronto is the only Ontario municipality with its own.
How much is land transfer tax on a $650,000 home in Ottawa?
$9,475, before the Ontario first-time buyer refund of up to $4,000.
What is the minimum down payment on a $650,000 home?
$40,000: 5% of the first $500,000 plus 10% of the rest.
Other cities
Vancouver
Property transfer tax, and why the first-time exemption often runs out.
Calgary
No land transfer tax: mostly your down payment and legal fees.
Edmonton
No land transfer tax and no sales tax on the CMHC premium.
Mississauga
Close to Toronto, but without Toronto’s second land transfer tax.
Hamilton
Ontario land transfer tax and 8% sales tax on the CMHC premium.
Montreal
Welcome tax, 9% premium tax and notary fees.