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Simple Mortgage Calculator Canada
Understanding your monthly obligation is the first step in homeownership. Our Simple mortgage calculator Canada uses the latest 2025 formulas, including the standard Canadian semi-annual compounding for fixed rates.
Note for High-Ratio Mortgages: If your down payment is less than 20%, you must purchase default insurance. Our tool automatically calculates CMHC premiums based on your down payment percentage.
Mortgage Renewal Calculator
Facing a renewal cliff? Use our Mortgage renewal calculator to compare your current rate against new offers. Seeing the difference in interest costs over a 5-year term can help you decide whether to shop around or stay with your current lender.
Mortgage Calculator Ontario & Beyond
Whether you are looking for a Mortgage calculator BC, Alberta, or Ontario, regional factors matter. While interest rates are generally federal, your closing costs (like Land Transfer Tax) vary significantly by province. Select your province at the top of the tool to customize your experience.
Mortgage Amortization Calculator Canada
The Mortgage amortization calculator Canada tool visualizes how every payment splits between principal and interest. Earlier in an amortization, a larger share of many payments may go toward interest. Use the “Amortization” tab to review the estimated principal-and-interest split and total interest cost.
Review Affordability
Use the educational assessment to review income, debts, down payment, and estimated housing costs before speaking with a regulated lender or mortgage professional.
Run Affordability AssessmentEstimate only — not a pre-approval
Frequently Asked Questions
How is interest calculated in Canada?
Unlike the US (monthly), Canadian fixed-rate mortgages are compounded semi-annually. This means the effective monthly rate is slightly lower than simply dividing the annual rate by 12. Our Simple mortgage calculator Canada handles this math for you.
What is the stress test rate?
Mortgage qualification may require a stress-test calculation based on current federal rules and the proposed contract rate. Rules can change, so confirm the applicable qualifying rate with a regulated lender or mortgage professional.