Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to make a good financial decision.
In this calculation, "Inflation Rate" applies on property tax, maintenance fee, condo fee and CMHC (mortgage insurance) which adds up to mortgage amount. Closing Cost may include Land Transfer Tax (property tax) and lawyer costs. TMI stands for Tax, Maintenance and Insurance.
This calculator is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.