Calculators For buyers
For buyers
For buyers
What will it cost each month?
Your real mortgage payment, calculated the way Canadian lenders do it (interest compounded semi-annually). Compare monthly, bi-weekly, and accelerated payments, and see your true monthly carrying cost.
Your mortgage
Everything stays on your device. Nothing is saved or sent.
$
$
5-yr fixed, typical today ~4.4%
%
25 years
$
/ yr tax
$
/ mo condo
$
/ mo insurance
Your mortgage payment
$0
principal + interest
Your true monthly cost, mortgage plus taxes, condo and insurance, is about $0.
Mortgage amount$0
CMHC insurance added$0
Payment$0
Payments per year12
Paid off in25 yrs
Total interest$0
Total of all payments$0
How your equity builds
In the early years most of each payment is interest, so equity builds slowly, then it picks up speed. Here's the pace in 5-year steps, calculated exactly from your numbers above.
Equity, the share of the home you own
Still owed (balance)
Jay Patel
REALTOR® · GTA
Not sure which payment plan fits you? I'm a real person, not a form, message me and I'll help you make sense of it.
A quick, honest note. This is an educational estimate, not a mortgage approval or a quote. It uses Canadian semi-annual compounding for fixed-rate mortgages and adds CMHC default insurance when the down payment is under 20% (assuming an owner-occupied home). Your actual payment depends on your lender, exact rate, insurance premium, and property taxes. For real numbers, speak with a licensed mortgage professional, I'm happy to connect you with one.