PLAN YOUR PURCHASE · CANADIAN DOLLARS
Your mortgage.
In monthly numbers.
Estimate payments, add ownership costs and see what a higher rate could mean for your budget.
ESTIMATED MORTGAGE PAYMENT
/ month
Principal + interest · monthly payments
GIVE YOUR BUDGET SOME ROOM
What if the rate were 1 point higher?
At , the same starting mortgage would be per month — more.
Illustrative sensitivity check, not a lender’s stress test or a renewal quote.Your term at a glance
Principal Interest · share of mortgage payments during this term
View year-by-year balances
| Year | Principal paid | Interest paid | Balance |
|---|
HOW TO USE THE ESTIMATE
See the payment.
Plan the whole purchase.
The mortgage is one part of your budget. Keep deposits, land transfer taxes, legal costs and other closing adjustments in a separate cash plan.
Read the deposits & closing costs guide →How is this calculated?
Fixed-rate illustration using nominal annual interest compounded semi-annually and paid monthly. The rate stays constant for the term shown, with no prepayments. Figures are estimates; lender calculations and rounding may differ. Variable-rate products may use different conventions.
Is this a mortgage approval?
No. It does not assess income, debts, credit, down-payment eligibility or lender qualification. Available amortization depends on the mortgage and your eligibility. Review the amount you can borrow with a lender.
Does it include mortgage insurance and taxes?
Include any financed mortgage default insurance premium in the mortgage amount yourself. The calculator does not determine that premium, sales tax on it, land transfer taxes or rebate eligibility. Monthly ownership costs include only the amounts you enter.
What is the difference between term and amortization?
The term is how long your mortgage contract lasts. Amortization is the repayment timeline. At renewal, the remaining balance and a new rate can change your payment.
Mortgage concepts: Financial Consumer Agency of Canada ↗. This tool runs in your browser and does not send your figures to MCS.
YOUR NEXT STEP
Find the project.
Get the details.
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