Our Canadian mortgage calculator calculates your periodic payment. If you are purchasing a home, our payment calculator allows you to test down payment and amortization scenarios.
Use our mortgage calculator to get an idea of what you can afford based off of various mortgage solutions/rates.
There are a number of factors that go into estimating how much your regular mortgage payments will be. The most important numbers are the total mortgage amount, the amortization period (the number of years the mortgage payments will be spread across), and the mortgage rate.
To use the calculator, enter the purchase price and your down payment, then select your mortgage rate and amortization period. You can see how your payment will be affected by the size of your down payment and payment frequency. Our calculator also shows you what the land transfer tax will be, and approximately how much cash you’ll need for closing costs. You can also use the calculator to estimate your total monthly expenses or to see what your payments will be if mortgage rates go up. It is a good idea to use the calculator to determine what you can afford before you start looking at real estate listings. You can also request a free evaluation or even get pre-approved by simply contacting us.