Mortgage Payment Calculator

Last updated: July 9, 2020

Our mortgage payment calculator calculates your monthly payment and shows you the corresponding amortization schedule. If you are purchasing a home, our payment calculator allows you to test down payment and amortization scenarios, and compare variable and fixed mortgage rates. We also help you calculate CMHC insurance and land transfer tax.

Mortgage payment calculator

A reverse mortgage is a loan that allows you to take money from the equity that you have in your home without having to sell your home. These are popular for older Canadians who have built up equity in their house, but don't have cash savings, and therefore need to access their home's equity in order to pay the bills, etc. However, buyer beware as always with mortgages. Learn more about reverse mortgages here...

Buying a Home, Real Estate

Is it a Bad Time to Buy a House?

Housing affordability has been a problem in the metropolitan areas of Vancouver and Toronto for decades now. In the past couple of years, the rest of the country has experienced similar spikes in real estate prices, to the point where historically slow-and-steady markets like Edmonton and Winnipeg have seen massive home price appreciation. To make matters worse for prospective buyers, mortgage rates have roughly tripled since 2021, from less than 2% to over 6% for a five-year fixed rate mortgage...

Mortgage Payment Calculator