Housing & Mortgage

Mortgage Calculator

Estimate a monthly Canadian mortgage payment from home price, down payment, rate, and amortization.

Basics

Home priceiEnter the home purchase price.

Down paymentiEnter your planned down payment.

Mortgage rateiUse the annual mortgage rate you want to test.

AmortizationiEnter the amortization period.

years

A mortgage payment is based on the amount borrowed, the interest rate, amortization, and payment schedule.

If your down payment is below 20 percent, mortgage insurance may apply and is often added to the mortgage amount.

A full housing budget should also include property tax, home insurance, utilities, maintenance, condo fees, and closing costs.

Frequently asked questions

Does this guarantee lender approval?+

No. Lenders also review income, debt, credit, employment, down payment source, and stress test rules.

Does this include property tax?+

No. This calculator focuses on the mortgage payment only.