Mortgage tools
Mortgage Calculator
Estimate your monthly payments, compare down payments, and understand your buying budget.
Compare down payments
Estimate monthly payments
Model your buying budget
Step 1 - Property setup
Enter a typical list or offer price.
For your notes - rates may vary by province.
Minimum down
Under $500K: 5% min. $500K–$1M: 5% on first $500K + 10% on balance. $1M+: 20% typically.
CMHC / insurance
Generally required when down payment is under 20%. Premium is capitalized into the mortgage.
Stress test
Lenders qualify at the greater of contract +2% or the benchmark rate—plan for higher qualifying payments.
Step 2 - Compare scenarios
Scenario 1
7.5%
down
Scenario 2
10%
down
Scenario 3
15%
down
Scenario 4
20%
down
Down payment
Adjust each scenario's LTV.
CMHC insurance
Capitalized premium (est.).
Total mortgage
Loan + insurance.
Amortization
Mortgage rate
Annual nominal %.
Payment frequency
Displayed as monthly.
Mortgage payment
Principal & interest (est.).
At a glance
Lowest monthly payment
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Scenario 1 · 7.5% down
Lowest cash to close
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Down payment only · Scenario 1
Fastest initial equity
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Highest down payment · Scenario 1
Balanced reference
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Often 20% avoids CMHC · Scenario 4
First-time buyers
Programs like the Home Buyers’ Plan or land transfer rebates may apply—check provincial rules.
Payment frequency
Accelerated bi-weekly can shave interest vs monthly; this calculator shows monthly for easy comparison.
CMHC premiums
Premium tiers depend on loan-to-value. Rates here follow common insured-mortgage brackets.
Amortization
Shorter amortization raises payments but cuts total interest—use the per-scenario controls below.
Disclaimer
Does not include closing costs, property tax, or lender-specific fees. Always validate with a professional.
Important disclaimer
This calculator is for estimation purposes only and does not represent mortgage approval, lending advice, or a guaranteed rate. Speak with a licensed mortgage professional for personalized advice.
