Mortgage Calculator
Plan your home purchase with confidence. Use our Canadian mortgage calculator to estimate your monthly payments, total interest costs, and understand how different down payments and rates affect your budget.
Mortgage calculator unavailable
Configured mortgage defaults and jurisdiction rules are required before payment estimates can be calculated.
Disclaimer: The estimates and calculations shown above are for illustrative purposes only and should not be relied upon as financial advice. Actual mortgage rates, terms, and eligibility depend on your personal financial situation, credit history, and current market conditions. Please consult a licensed mortgage broker, financial advisor, or your bank to determine your actual affordability and costs before making any purchasing decisions.
Understanding Canadian Mortgages
Before making one of the biggest financial decisions of your life, here are some key concepts every Canadian homebuyer should understand.
Down Payment Rules
In Canada, minimum down-payment requirements vary by purchase price and configured finance policy:
- Tiered minimum down-payment rules come from finance-policy config
- Insured-mortgage eligibility limits come from the selected jurisdiction's effective calculator rules
- The calculator applies the active configured policy
Mortgage Default Insurance
Default-insurance eligibility, thresholds, premiums, and provider requirements vary by mortgage and effective policy:
- Protects the lender if you default on your mortgage
- Premium tiers are applied from configured finance policy
- The calculator shows the policy and source used for the estimate
Mortgage Stress Test
Qualification rules can require a higher assessment rate to test whether the borrower can handle rate increases:
- You must qualify at the higher of your contract rate plus the configured stress-test addition or the configured qualifying-rate floor
- Applicability comes from the selected jurisdiction's effective policy
- Helps protect against financial difficulty if rates rise
Need help understanding your mortgage options?
Our team can connect you with trusted mortgage professionals and guide you through the entire home buying process — from pre-approval to closing.
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