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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. Early in your amortization, up to 70% of your payment may go towards interest. Use the "Amortization" tab to see your break-even point and total interest cost.
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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?
To qualify, you must prove you can afford payments at a rate of 5.25% or your contract rate + 2%, whichever is higher. Use our tool to test if you can afford payments at higher rates.