Mortgage Calculator

Find Out What You Can Afford!

Buying a home is one of the biggest financial decisions you’ll make, and knowing your budget is the first step. Use our Mortgage Calculator to estimate your monthly payments, including principal, interest, taxes, and insurance.

How Our Mortgage Calculator Helps You

✅ Estimate Your Monthly Mortgage Payment – Get a clear breakdown of your costs.
✅ Adjust Loan Terms & Interest Rates – See how different terms impact your payments.
✅ Understand Your Budget – Know what you can afford before you start house hunting.

How to Use the Mortgage Calculator

1️⃣ Enter the Home Price – Input the property price you’re considering.
2️⃣ Adjust the Down Payment – Choose how much you plan to put down (minimum 5% for homes under $500,000 in Canada).
3️⃣ Set the Loan Term & Interest Rate – Select from 10, 15, 20, or 30 years and adjust the interest rate.
4️⃣ Include Property Taxes & Insurance – Get a more accurate total cost estimate.
5️⃣ View Your Results – See your estimated monthly mortgage payment instantly.

Mortgage Payment Breakdown

🏡 Principal & Interest – The loan amount and interest charged by your lender.
🏡 Property Taxes – Annual taxes set by your municipality.
🏡 Home Insurance – Protection for your home and belongings.
🏡 CMHC Insurance (if applicable) – Required for down payments under 20%.

Why Use a Mortgage Calculator?

✅ Helps you set a realistic budget
✅ Gives you an idea of monthly payments before applying for a loan
✅ Allows you to compare different loan terms and interest rates

Need Mortgage Pre-Approval?

Getting pre-approved for a mortgage helps you:
✔️ Understand your budget before house hunting.
✔️ Show sellers you’re a serious buyer.
✔️ Lock in a competitive interest rate.