The most accurate way to calculate mortgage payment amounts across Canada. Features updated 2025 semi-annual compounding logic, CMHC insurance estimation, and affordability stress testing.
Adjust the purchase price, down payment, and amortization to see real-time updates. Our tool automatically calculates CMHC insurance for high-ratio mortgages (under 20% down).
Down payment is under 20%. CMHC Insurance will be added to your loan amount below.
Your Payment
per month
Total Interest
Over full term
CMHC Insurance
Added to loan
Choosing Accelerated Bi-Weekly payments adds one extra monthly payment per year applied directly to principal, potentially shaving years off your amortization.
| Year | Interest Paid | Principal Paid | Balance Remaining |
|---|
Determine your maximum purchasing power based on Canadian GDS/TDS rules and the Mortgage Stress Test.
Default is 5.25% (or Contract + 2%), but you can adjust starting from 3.25%.
Auto-Calculated Expenses
Maximum Purchase Price
Agent Insight: This calculation uses a GDS ratio of 39% and TDS of 44%. If you have excellent credit (680+), we may be able to stretch these ratios slightly.
In Canada, if your down payment is less than 20% of the home's purchase price, you must purchase Default Insurance (provided by CMHC, Sagen, or Canada Guaranty). This protects the lender. This calculator automatically estimates this cost based on your Loan-to-Value ratio.
Most Canadians pay monthly, but switching to Accelerated Bi-Weekly can save thousands. By splitting a monthly payment in half and paying every two years, you make 26 half-payments (13 full months) per year instead of 12.
While our mortgage calculator works for all of Canada, we have included a specific tool for our Ontario clients. Buying in Toronto incurs an additional municipal tax.
First-Time Buyers: You may be eligible for a significant rebate.
*Prepare this amount for closing day.
Mortgage Agent Level 2
Why limit yourself to one bank? We are a team of licensed mortgage agents across Canada working with over 65 lenders to find the perfect rate for your situation. Expert advice for Purchase, Refinance, and Renewal.
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