Accurate Mortgage Payment and Affordability Calculator

Quickly Estimate Your Monthly Mortgage Payments

Our free Canadian Mortgage Calculator helps you estimate monthly payments, down payments, and interest costs. Whether you're a first-time homebuyer or refinancing, get a clear picture of your mortgage in seconds.

All calculations are approximate. For official rates and approval, please contact us directly.

Mortgage Size

Default insured mortgage cap is $1.5M. First-time buyers & new builds can have up to 30-year amortizations (from Dec 15, 2024).

Mortgage Amount (CAD)

Current Value: $500,000

Down Payment & Property Type

Down Payment

0%20%100%

Current Value: $100,000

Property Type

Payment Frequency

Select Frequency

Interest Rate

FixedVariable

Interest Rate (%)

Current Rate: 4.24%

Term (Years)Term length for your chosen rate.

Amortization

Amortization (years)

52530

From Dec 15, 2024, first-time buyers & new builds can choose up to 30 years.

Home Expenses

Property Tax

Yearly

Monthly

Condo Fees

Heat

Other Expenses

Rental Income

Check if you rent out part of your home.

Enable Rental Income

Accelerated Payments & Pre-payments

Accelerated / Custom Frequency (Currently 0 times/year)

Increase the number of payments/year and choose the % extra you want each time.

One-Time Payment

Make a lump sum on your mortgage right away.

Annual Pre-Payment

Extra principal applied once per year.

Advanced Settings

Loan Type

Compounding Frequency

Monthly Mortgage
$0.00
Home Expenses
$0.00
Other Expenses
$0.00
Rental Income
$0.00

Mortgage Size: $0

Down Payment: $0

Mortgage Insurance: $0.00

Details

Mortgage Payment:$0.00

Net Mortgage (with Insurance):$0.00

Interest paid over Term:$0.00(INTEREST SAVING $0)

Balance end of Term:$0.00

Effective Amortization:0 years(0 years faster)

Compare Two Scenarios

Quickly see how different down payments or rates affect your monthly payment.

Scenario B: Mortgage Amount

Down Payment

Interest Rate (%)

Amortization (years)

Payment Frequency