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Calculator · For Homeowners & Buyers

Mortgage Payment Calculator

Estimate your payment and adjust the numbers to see how they change. Then talk to us about your real options.

Your Numbers

Monthly or bi-weekly, with Canadian semi-annual compounding.

Enter a percent, or the dollar amount in the second box.
A rate to estimate with. We will confirm your actual options.
On an insured mortgage, a 30-year amortization is open only to a first-time home buyer or a newly built home.
Estimated payment
$0 / month
Mortgage amount$0
Down payment$0
Total interest over term shown$0

APR. OAC. For illustrative purposes only. Subject to change without notice. This is not financial, legal or lending advice.

Talk to Us

This is not an offer of financing or a rate quote. Your actual rate and payment depend on your situation and the deal, including whether the mortgage is insured or conventional, the mortgage type and term, the property, and lender review; insured and conventional pricing can differ. Estimates use Canadian semi-annual compounding and assume a fixed rate held for the full amortization shown. Speak with us for figures specific to you. Mortgage broker services provided by TMG AnchorPoint Mortgage Inc., NS Licence 3000145, NB Licence 260055962, NL Licence 26-07-TM223-1.

What These Numbers Mean

Plain-language definitions and the typical ranges, so you can play with the inputs with confidence.

Home price
The purchase price of the property. Your down payment comes off this, and the rest is the mortgage.
Typical: an insured purchase must be priced under $1.5 million; at $1.5 million or more you need at least 20 percent down.
Down payment
What you put in up front, as a percent or a dollar amount. Less than 20 percent means the mortgage is insured and a premium is added; 20 percent or more is conventional.
Typical: minimum 5 percent on the first $500,000, 10 percent on the portion from $500,000 to $1.5 million.
Interest rate
The annual rate used to estimate your payment. We will confirm the actual options available to you.
Typical: fixed and variable rates move with the market and with whether your deal is insured or conventional.
Amortization
The total years to pay the mortgage off. A longer amortization lowers the payment but raises lifetime interest.
Typical: 25 years is standard; 30 years is available on insured mortgages for first-time buyers and new builds, and on conventional deals.
Frequency
How often you pay. Accelerated bi-weekly is your monthly payment halved and paid every two weeks, which adds the equivalent of one extra monthly payment a year and shortens the term.
Typical: monthly, bi-weekly, and accelerated bi-weekly are the common options.
Estimated payment
The principal and interest for the frequency you chose. It does not include property tax, heat, condo fees, or insurance.
Typical: a useful planning figure, not a quote.
Semi-annual compounding
Canadian fixed mortgages compound interest twice a year by law, so the effective rate is slightly below the simple monthly figure. This tool already applies it.
Standard: required on Canadian fixed-rate mortgages.
These are general ranges, not your numbers. The right figure depends on your situation, the property, and the lender. Talk to us and we will pin it down.

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