Plan WithConfidence

Versatile, easy-to-use mortgage tools for Canadian home research.

Tool preview
Introducing our simple payment estimator

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 mortgage scenarios

Explore different situations to understand how mortgage calculations work

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First-Time Buyer
Toronto Condo

Young professional purchasing first home with minimal down payment. $550K price, $30K down (5.45%) at 6.5% rate over 25 years results in ~$3,480/month including CMHC insurance.

Includes mortgage insurance
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Move-Up Buyers
Family Home

Growing family upgrading to larger home with equity from previous sale. $875K price, 20% down at 6.2% rate over 25 years equals ~$4,290/month with no insurance.

No mortgage insurance needed
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Investment Property
Calgary Rental

Investor purchasing rental property with required minimum down payment. $425K price, 20% down at 6.8% rate over 25 years costs ~$2,240/month at investment rates.

Higher rates for investment
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Refinancing
Vancouver Home

Homeowner switching to better rate when mortgage term expires. $720K balance, 5.9% rate over 22 years remaining saves ~$400/month vs previous 7.2%.

Rate shopping benefits

Mortgage Calculator - FAQs

Everything you need to know about using our mortgage calculators effectively.

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.

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.