What will your payment look like?
Real Canadian mortgage math, with semi annual compounding. Nothing is sent anywhere and no email is asked for.
Step 1 of 4
A rough number is fine. You can come back and change it.
Step 2 of 4
How much are you putting down?
Under 20 percent means mortgage default insurance, which is added to what you borrow rather than paid at closing.
Tap an amount to continue.
Step 3 of 4
Not sure yet? Leave it where it is for now.
Last step
Amortization and how often you pay
Paying every two weeks instead of monthly puts through the equivalent of one extra monthly payment a year, which is why the total interest drops.
Amortization
How often you pay
Estimated payment
$0
per month
Excludes property tax, home insurance and mortgage default insurance premiums where applicable. For guidance only, not mortgage advice.
Your answers stay on this pageCanadian semi annual compounding
How your payment is worked out
Standard Canadian mortgage math, done in the open so you can see where the figure comes from.
The price you entered on the first step.
The percentage you picked, from 5 to 25 percent of the price.
What you borrow, and what the interest is charged on.
Canadian mortgages compound semi annually, however often you pay, and the calculator converts that.
15 to 30 years, paid monthly, biweekly or weekly.
The big number on your result, with the total interest beside it.
What it leaves out
Property tax, home insurance and mortgage default insurance premiums where applicable, so your real monthly cost will be higher.
For guidance, not advice
A calculator estimates; a preapproval commits. A lender can tell you what an approval would actually look like.
Payment sorted. Now what?
Get a hand with what comes next
A calculator estimates; a preapproval commits. Tell us where you are at and we will help with the next step, whether that is a read on the numbers or a look at what your payment actually buys.
Ryan and Paul
Which neighbourhoods fit that payment, and how to compete without overpaying.
Ready when you are
Tell us about your move
Your message goes to both of us. Whoever is free first will reply within one business day.
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