Free Tool
Calculate Your Ontario Mortgage Payments & Land Transfer Tax
Get an instant estimate of your monthly payment, CMHC insurance, Ontario land transfer tax, the first-time buyer rebate and the cash you need to close — for properties in London, St. Thomas, Woodstock and across Ontario.
Plan Your Purchase
Mortgage Calculator for London & Southwestern Ontario Homebuyers
Estimate your monthly payment, CMHC insurance, Ontario land transfer tax and the cash you need on closing day — for London, St. Thomas, Ingersoll and anywhere in Ontario outside Toronto.
Your Numbers
700000
140000
4.79
25
2500
Typically $2,000–$3,000 in the London area. Ask your lawyer for a quote.
London — Provincial LTT only. No municipal LTT.
Cash Needed on Closing
Estimates only. Not an offer of credit. Excludes moving costs, inspection and appraisal fees. Contact me for an exact quote.
Ontario Land Transfer Tax — What You Need to Know
When you buy a home in London, St. Thomas, Woodstock or anywhere else in Ontario, you pay a one-time provincial Land Transfer Tax (LTT) on closing. It's paid in cash through your lawyer and can't be added to your mortgage — neither can the 8% sales tax on a CMHC premium.
Provincial LTT Brackets
- Up to $55,0000.5%
- $55,001 – $250,0001.0%
- $250,001 – $400,0001.5%
- $400,001 – $2,000,0002.0%
- Over $2,000,000 (residential)2.5%
First-Time Buyer Rebate
- Ontario rebate: up to $4,000 — wipes out LTT on homes up to ~$368,000.
- To qualify you must be 18+, a Canadian citizen or permanent resident, and have never owned a home anywhere in the world.
- London, St. Thomas, Woodstock, Ingersoll and the surrounding counties pay only the provincial LTT. Only properties inside the City of Toronto add a municipal LTT.