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RateSupermarket.ca > Mortgage rates > Mortgage rate calculator
Results
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Amount | Payment schedule |
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| Monthly |  |
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| Bi-Weekly | |
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| Weekly | |
$ |
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| Bi-Weekly Rapid |
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| Weekly Rapid | |
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* The RateSupermarket.ca mortgage rate calculator is for demonstration and
informational purposes only, and is not intended to provide specific financial
or other advice, and should not be relied upon in that regard.
* The calculation assumes a constant interest rate throughout the amortization
and mortgage rates are subject to change at any time without notice.
* Interest rate compounded half-yearly, not in advance.
How much can I afford? How much can I borrow?
These are typically the first questions people ask when buying a house. For good reason too, as there is no point shopping for what will most likely be the most expensive purchase in your life without knowing your budget first!
Mortgage rates calculators, such as the RateSupermarket.ca one above, are very useful for Canadians to to work out what their mortgage payments will be using different mortgage rates.
One thing to watch out for, is that you need to use a mortgage payment calculator that specifically states it is Canadian (handy terms such as mortgage calculator canada, canadian mortgage calculator, mortgage calculators canada, morgage calculator, mortgage rate calculator, mortgage interest rate calculator, loan mortgage calculator, online mortgage calculator) are useful.
This is because Canadian lenders are required by law to calculate interest that is compounded half-yearly, not in advance. As a result, if you use an American mortgage calculator, you will get a different payment result.
The RateSupermarket.ca mortgage rate comparison tool combines a mortgage calculator with your mortgage rate search, allowing you to calculate your mortgage payments with the various rates from lenders and brokers.
Now that you know your mortgage payments, go compare over 500 of the best mortgage rates in Canada on RateSupermarket.ca.
