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.
- 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).
- 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%
Scenario 1 - Fixed Rate
Scenario 2 - Fixed Rate
Scenario 3 - Fixed Rate
Information provided by our online calculators shouldn't be taken as investment or borrowing advice. Because everyone’s situation is unique, calculations and projections only provide general guidance. Calculators can be helpful tools but you should call our Contact Centre at 1.866.863.6237 for advice and information tailored to your specific situation.