Plan with
confidence

Easy-to-use mortgage tools designed for Canadian homebuyers

Mortgage Calculator

Payment estimator

Calculate your mortgage in seconds

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Educational disclaimer

This calculator is for research and education only. Estimates are not offers or advice. Actual terms vary by lender and your situation.

Common scenarios

Real-world examples to help you understand your options

🏠
First-Time Buyer

Toronto Condo

Young professional purchasing first home with minimal down payment.

Price
$550K
Down
$30K (5.45%)
Rate
6.5%
Payment
~$3,480/mo

Includes CMHC mortgage insurance

⬆️
Move-Up Buyers

Family Home

Growing family upgrading to larger home with equity from previous sale.

Price
$875K
Down
20%
Rate
6.2%
Payment
~$4,290/mo

No mortgage insurance needed

🏢
Investment Property

Calgary Rental

Investor purchasing rental property with required minimum down payment.

Price
$425K
Down
20%
Rate
6.8%
Payment
~$2,240/mo

Higher rates for investment properties

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Refinancing

Vancouver Home

Homeowner switching to better rate when mortgage term expires.

Balance
$720K
Term
22 years
New Rate
5.9%
Savings
~$400/mo

Compared to previous 7.2% rate

Questions?

Everything you need to know about using our mortgage tools

Our Mortgage Calculator helps you estimate your monthly mortgage payments based on the home price, down payment, interest rate, and loan term. It provides a breakdown of your payments and shows how your loan balance decreases over time.

  • Home Price ($): Enter the total cost of the home you're looking to buy.
  • Down Payment (%): Input the percentage of the home price you'll pay upfront.
  • Interest Rate (%): Enter the annual interest rate for your mortgage.
  • Loan Term (years): Choose the number of years you'll take to repay the loan.

Click on "Calculate" to see your estimated monthly payment.

  • Monthly Payment: Your estimated monthly mortgage payment.
  • Home Price, Down Payment, and Loan Amount: A summary of your home purchase details.
  • Amortization Chart: A visual representation of how your loan balance and payments change over time.

Pro tips

  • Explore Different Scenarios: Try adjusting the inputs to see how changes in interest rates, down payments, and loan terms affect your payments.
  • Budget Planning: Use our calculators to help plan your budget and prepare for homeownership costs.
  • Contact a Professional: While our tools provide helpful estimates, consider speaking with a financial advisor or mortgage lender for personalized advice.

Ready to plan
your next move?

Start exploring your mortgage options with our free calculator

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