HomeCalculators
Mortgage calculators
Estimate your payment or see how much home you may afford, using the current Canadian mortgage rules.
How these estimates work
- Down payment. The minimum is 5% of the first $500,000 plus 10% of the part up to $1.5 million. At $1.5 million and above you need 20%.
- Mortgage insurance. With less than 20% down, a default insurance premium (0.60% to 4.00% of your mortgage, depending on how much you put down) is added to your mortgage.
- The stress test. To qualify you must pass at the higher of your rate plus 2%, or 5.25%, with housing costs under 39% and total debts under 44% of your income.
These calculators give estimates for general information only. They are not a pre-approval, quote or commitment to lend. Lenders apply their own rules, rates and fees, and the Canadian rules above can change. Talk to us for numbers based on your real situation.
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