Free Canadian Mortgage Calculators & Tools

Make informed home buying decisions with accurate mortgage calculations based on current Canadian rates, CMHC rules, and the mortgage stress test.

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Canadian Mortgage Calculators

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Mortgage Payment Calculator

Calculate your monthly mortgage payments including principal, interest, property taxes, and insurance (CMHC if applicable).

Most Popular
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Affordability Calculator

Determine how much home you can afford based on your income, debts, and down payment using GDS and TDS ratios.

For First-Time Buyers
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Mortgage vs Rent Calculator

Compare the true costs of buying versus renting over time, including opportunity costs and home appreciation.

New
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Land Transfer Tax Calculator

Calculate land transfer taxes for your province including rebates for first-time home buyers.

Province-Specific
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Prepayment Calculator

See how extra payments reduce your amortization period and save you thousands in interest.

Save Money
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Stress Test Calculator

Check if you qualify for a mortgage under Canada's mortgage stress test requirements (qualifying rate).

Required
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A Young Canadians Guide to Building Wealth Instead of Debt.

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Bank of Canada Mortgage Rate

6.09%

5-Year Fixed Rate

Last Updated: 2026-04-08 | Source: Bank of Canada

⚠️ Important Disclaimer: These calculators provide estimates for educational purposes. Actual mortgage rates, terms, and qualifying amounts depend on your specific financial situation, credit score, and lender requirements. Always consult with a licensed mortgage professional before making financial decisions.
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Why Use Our Mortgage Tools?

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Canadian-Specific

Tailored for Canadian mortgage rules, CMHC insurance, and provincial variations

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Privacy First

No registration required. Your data never leaves your browser

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Mobile Friendly

Calculate on any device, anywhere, anytime

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Accurate & Updated

Based on current rates and 2026 lending criteria

Learn About Canadian Mortgages

First-Time Home Buyer Guide

Everything you need to know about buying your first home in Canada, including FTHB incentives and tax credits.

Read More →

Understanding CMHC Insurance

Learn when you need mortgage default insurance and how it affects your monthly payments.

Read More →

Fixed vs Variable Rates

Compare the pros and cons of fixed and variable mortgage rates in the Canadian market.

Read More →

The Mortgage Stress Test

What is the mortgage stress test and how does it affect your borrowing power in 2026?

Read More →

GDS & TDS Ratios Explained

Understand Gross Debt Service and Total Debt Service ratios used by Canadian lenders.

Read More →

Closing Costs in Canada

Budget for all the costs beyond your down payment: legal fees, inspections, and more.

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Frequently Asked Questions

How much do I need for a down payment in Canada?+
The minimum down payment in Canada is 5% for homes under $500,000. For homes between $500,000-$1M, you need 5% on the first $500k and 10% on the remainder. For homes over $1M, you need 20% down. A larger down payment reduces your mortgage insurance costs.
What is the mortgage stress test?+
The mortgage stress test requires you to qualify at either your contract rate plus 2% or 5.25% (whichever is higher). This ensures you can afford payments if rates rise. All federally regulated lenders must apply this test.
Do I need CMHC insurance?+
CMHC insurance (or equivalent from Sagen or Canada Guaranty) is required when your down payment is less than 20% of the purchase price. The insurance protects the lender and costs between 2.8% to 4% of your mortgage amount.
What's the difference between fixed and variable rates?+
Fixed rates stay the same for your entire term (typically 5 years), providing payment stability. Variable rates fluctuate with the prime rate and typically start lower but can increase. Your choice depends on your risk tolerance and rate outlook.
How accurate are these calculators?+
Our calculators use current average rates and standard lending formulas used by Canadian banks. However, your actual rate and approval amount will depend on your credit score, income, debts, and specific lender policies. Always get pre-approved for the most accurate information.

Ready to Calculate Your Mortgage?

Get started with our free calculators and make informed decisions about your home purchase.

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