# 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

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:

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:
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:
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: