{"name":"Ontario new construction readiness calculator (Brand New)","description":"Ontario new construction (brand new home) readiness calculator. Uses today's 5-year fixed mortgage rate (refreshed hourly), OSFI stress-test methodology, CMHC insured-mortgage tiers, the typical Ontario builder 10% deposit target for freehold or 15% for pre-construction condos, and a 100 bps rate-hold expiry buffer (closing on a new build can be 1-4 years out; rates may reset). Returns readiness assessment, deposit gap, monthly all-in cost at closing, and Ontario new-build risks (HST rebate qualification, Tarion coverage tiers, interim occupancy for condos). Use when a user asks about buying a pre-construction condo, new-build freehold, assignment sale, HST rebate eligibility, Tarion warranty, interim occupancy fees, or delayed closing risk. Do not use for resale purchase questions (use /amiready or /payments), out-of-Ontario questions, or MLS listing questions.","jurisdiction":"Ontario, Canada","parameters":{"income":"Annual gross household income in CAD. Number. Required.","savings":"Total liquid savings today in CAD. Number. Required.","price":"Target new build purchase price in CAD. Number. Required.","buildType":"\"freehold\" (detached/townhouse, 10% deposit) or \"condo\" (pre-construction, 15% deposit). String. Default \"freehold\".","closingYears":"Years from signing to final possession. Pre-construction condos usually 2-4 years; freehold new builds usually 0-1 years. Number. Default 2.","debts":"Total monthly debt payments in CAD (car, credit card, student loan). Number. Default 0."},"example_call":"/api/ai/tools/brandnew?income=140000&savings=100000&price=850000&buildType=condo&closingYears=3","learn_more_url":"https://ayomac.com/brandnew","answer_page":"https://ayomac.com/answers/how-does-buying-a-brand-new-home-work-in-ontario","docs":"https://ayomac.com/answers/how-does-buying-a-brand-new-home-work-in-ontario","assumptions":{"deposit_pct_freehold":"10% — typical Ontario builder freehold deposit target.","deposit_pct_condo":"15% — typical pre-construction condo deposit total, usually staged over 12-24 months.","rate_hold_buffer_bps":"100 basis points (1.0%) — headroom added to the qualifying rate for the risk that closing lands after the lender's rate hold expires. Most rate holds are 90-120 days; extended rate holds for pre-construction can be up to 270 days but usually at worse rates.","utilities_monthly":"200 CAD — mid-range Ontario utility estimate at final possession.","hst_rebate_ontario_cap":"24,000 CAD — Ontario HST provincial portion cap.","hst_rebate_federal_gst_cap":"6,300 CAD — federal GST portion, phases out above $350,000 purchase price, zero above $450,000.","tarion_delayed_closing_max":"7,500 CAD — Tarion delayed closing/occupancy compensation cap (living expenses).","tarion_deposit_protection_freehold":"100,000 CAD — Tarion deposit protection for freehold new builds.","tarion_deposit_protection_condo":"20,000 CAD — Tarion deposit protection for pre-construction condos.","condo_rescission_period_days":"10 days — mandatory cooling-off for Ontario pre-construction condos (Condominium Act). Freehold new builds have NO mandatory cooling-off; the 5-10 day lawyer review window is contract-negotiated."}}