Mortgage Calculator

If you're buying a home, this calculator can help you crunch the numbers. Get a better sense of what you can afford, find out what your payments could look like and learn how long your mortgage loan will last - that's its amortization period. You can even compare a few different scenarios to see which will be your best approach.
 
Error
  • The amortization period must be greater than the term of the mortgage.
  • Your gross annual household income must be greater than $0.
  • The interest rate must be a number between 0.001% and 20%.
  • Your down payment must be greater than $0.
  • The payment period must be greater than 0.
  • The mortgage amount must be at least $100.
  • The payment period cannot exceed the amortization period.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
Attention
  • Calculation is based on the down payment being 5% of the purchase price
  • An estimated cost for mortgage default insurance is included because the down payment is less than 20%
Affordability
Payment
Amortization
Comparison
EXPENSES:
 
$899.50
Purchase price:
$236,174.35
 
 
Less down payment:
$47,000.00
 
 
Plus default insurance:
$5,296.88
 
 
 
 
 
Total mortgage amount:
$194,471.23
 
+Add Prepayments
 
+Add Prepayments
 
Scenario 1 - Fixed Rate
Scenario 2 - Fixed Rate
Scenario 3 - Fixed Rate
Mortgage Amount
Amortization Period
Payment Frequency
Product
Mortgage payment:
Total interest:
Balance owing at term:
Interest over term:
 
+Add Prepayments
Total savings:
Savings over term:
Mortgage-free earlier:
View Graph View Report Print Results Save/Share Results
 
Mortgage Affordability
 
Mortgage Amortization
 
Mortgage Comparison
 
Mortgage Payment
 
Scenario 1
Scenario 2
Scenario 3
Error
  • Your gross annual household income must be greater than $0.
  • Your down payment must be greater than $0.
  • The payment period must be greater than 0.
  • The interest rate must be a number between 0.001% and 20%.
  • The mortgage amount must be at least $100.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
EXPENSES:
Attention
  • Calculation is based on the down payment being 5% of the purchase price
  • An estimated cost for mortgage default insurance is included because the down payment is less than 20%
Error
  • The amortization period must be greater than the term of the mortgage.
  • Your down payment must be greater than $0.
  • The payment period must be greater than 0.
  • The interest rate must be a number between 0.001% and 20%.
  • The mortgage amount must be at least $100.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
Error
  • The amortization period must be greater than the term of the mortgage.
  • The payment period must be greater than 0.
  • The interest rate must be a number between 0.001% and 20%.
  • The mortgage amount must be at least $100.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
  • The payment cannot exceed the mortgage amount.
Error
  • The amortization period must be greater than the term of the mortgage.
  • Your down payment must be greater than $0.
  • The payment period must be greater than 0.
  • The interest rate must be a number between 0.001% and 20%.
  • The mortgage amount must be at least $100.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
Mortgage amount:
Amortization period:
Payment frequency:
Product:
Your mortgage payment:
Interest over term:
Balance owing at term:
Total interest:
Prepayment type:
Amount:
Prepayment period:
Total prepayment savings:
Savings for term:
Paid off earlier by:
Error
  • The amortization period must be greater than the term of the mortgage.
  • Your down payment must be greater than $0.
  • The payment period must be greater than 0.
  • The interest rate must be a number between 0.001% and 20%.
  • The mortgage amount must be at least $100.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
Mortgage amount:
Amortization period:
Payment frequency:
Product:
Your mortgage payment:
Interest over term:
Balance owing at term:
Total interest:
Prepayment type:
Amount:
Prepayment period:
Total prepayment savings:
Savings for term:
Paid off earlier by:
Error
  • The amortization period must be greater than the term of the mortgage.
  • Your down payment must be greater than $0.
  • The payment period must be greater than 0.
  • The interest rate must be a number between 0.001% and 20%.
  • The mortgage amount must be at least $100.
  • The values you have entered result in an amortization period that exceeds 35 years. Please reduce the mortgage amount and/or increase the payment amount.
  • The values you have entered result in an amortization period that is shorter than the term of the mortgage.
  • The payment period cannot exceed the amortization period (e.g. the last payment for a mortgage amortized over 25 years and paid monthly is 12x25 = 300).
Mortgage amount:
Amortization period:
Payment frequency:
Product:
Your mortgage payment:
Interest over term:
Balance owing at term:
Total interest:
Prepayment type:
Amount:
Prepayment period:
Total prepayment savings:
Savings for term:
Paid off earlier by:
Information provided by our online calculators shouldn't be taken as investment or borrowing advice. Because everyone’s situation is unique, calculations and projections only provide general guidance. Calculators can be helpful tools but you should call our Contact Centre at 1.866.863.6237 for advice and information tailored to your specific situation.

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