Calculator
What would this actually cost you?
Built on Canadian rules: semi-annual compounding, tiered minimum down payments, mortgage default insurance, and your term kept separate from your amortization. Change anything and the numbers update as you type.
Your mortgage payment
$0per month
Total monthly housing cost
$0
Total mortgage amount
$0
Default insurance premium
$0
Balance at end of term
$0
Interest over the full amortization
$0
Where the money goes
Everything you'll pay over the full amortization, if you keep this rate throughout.
Total paid over 25 years: $0
Pay more often, finish sooner
Accelerated payments keep your monthly amount but charge it in halves or quarters, so you make the equivalent of one extra monthly payment a year.
| Frequency | Payment | Paid off in | Total interest |
|---|
Year-by-year breakdown
Your term ends in the highlighted year. That's when you renew and the rate resets.
| Year | Principal paid | Interest paid | Balance |
|---|
One more thing to know
Qualifying is not the same as affording.
Federally regulated lenders don't qualify you at your actual rate. They use the greater of your rate plus two percentage points, or 5.25%. At 4.29%, that means you'd be assessed at about 6.29%. It's why the amount you're approved for is usually lower than a payment calculator alone would suggest.
These figures are estimates for illustration only. They assume a constant interest rate for the entire amortization, which is not how Canadian mortgages work in practice. Your rate resets at each renewal. They exclude legal fees, title insurance, appraisal costs, land title registration fees, and any lender-specific charges. Default insurance premium rates and minimum down payment thresholds are set by government and insurers and change from time to time. Nothing here is an offer of credit or financial guidance. For numbers you can rely on, book a call.