Target for the overnight rate
2.25%
Mortgage calculator
Update any field and the monthly payment recalculates immediately.
Amortization period
Estimated Monthly Payment
$0.00/mo
Home price$700,000
Down payment20.0%
Rate4.75%
Amortization25 yrs
Free tools
Mortgage calculator built for Canadian buyers.
Estimate monthly payments, understand how your down payment changes the loan, and compare amortization lengths without sharing a single field with a server.
Client-side only Updated for current CMHC & lender rules PDF report available
100% client-side
No tracking
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Official rates
The rate context behind the estimate
These reference points are here to frame the calculator. They are not lender quotes, but they help explain why the payment moves as rates change.
Bank rate
2.50%
Estimated variable mortgage rate
3.61%
How it works
Four inputs. One monthly number.
The calculator uses your home price minus your down payment to estimate the loan amount, then applies the interest rate and amortization period to calculate a monthly payment.
- A larger down payment lowers the loan amount and the monthly payment.
- A shorter amortization increases the payment but reduces total interest over time.
- Everything runs in your browser. Nothing is saved, tracked, or sent anywhere.
FAQ
Frequently asked questions
Clear answers about payments, down payments, and how this calculator is built.
5% on homes under $500,000, with higher tiers above that threshold.
Lenders qualify you at a higher rate than your contract rate to confirm you can absorb future rate increases.
Fixed locks your rate for predictability; variable can save money long-term but carries payment risk if rates rise.
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Open toolPrivacy first: this calculator runs locally in your browser. We do not store the numbers you enter.