Mortgage Calculators for Canada and Ontario

This hub is for first-time buyers, owners coming up for renewal and anyone thinking about switching lenders. It covers the decisions around a mortgage, from how much you can borrow to what breaking a term would cost.

Canadian mortgages compound twice a year, need CMHC insurance when the down payment is under 20% and face a stress test. The mortgage calculator follows those rules, so the payment is close to a lender’s quote. Then check the affordability calculator for a price limit, the stress test calculator for the qualifying rate and the renewal calculator when your term ends. Before you break a term, run the penalty calculator.

The Ontario mortgage guide explains how lenders decide, and the Ontario land transfer tax guide covers a cost that is not part of the mortgage but is due at closing.

Rules come from CMHC, the Office of the Superintendent of Financial Institutions and the federal government. Rates are the ones you enter, since lenders set their own. We review the calculators once a year and when a rule changes.

Mortgage Calculators for Canada and Ontario on this site

• Mortgage Payment Calculator Work out your mortgage payment, CMHC insurance premium, total interest and payoff time for a Canadian mortgage.
• Mortgage Amortization Schedule Calculator See your mortgage payment, total interest and a year-by-year amortization table.
• Mortgage Prepayment Calculator Estimate the interest and time you save by prepaying your mortgage.
• Mortgage Affordability Calculator Estimate the most home you can afford from your income, debts and down payment.
• Mortgage Refinance Calculator Compare your mortgage with a refinance after penalty and fees.
• CMHC Mortgage Insurance Calculator Estimate the CMHC premium, the sales tax due at closing and your total loan.
• HELOC Calculator Find how much a home equity line of credit could give you and what it costs.
• Mortgage Renewal Calculator See your new mortgage payment at renewal and how it changes.
• Mortgage Penalty Calculator Estimate the penalty to break a fixed or variable mortgage.
• Mortgage Stress Test Calculator Find the qualifying rate, payment and income under the mortgage stress test.
• Fixed vs Variable Mortgage Calculator Compare the interest cost of fixed and variable mortgages under three rate paths.
• Mortgage Pre-Approval Calculator Estimate the mortgage a lender may pre-approve from income, debts and down payment.

Articles and guides

• How mortgages work in Ontario Guide

Every calculator lists its sources. Read how the calculators work and our editorial policy.