Mortgage Calculators

Using an online home loan calculator or mortgage calculator is the most convenient way to help you assess your mortgage payment options. Choose any of our 17 easy-to-use interactive calculators and tools below to help you model any complex mortgage and investment related scenarios.
Mortgage Payment Calculator

Enter an interest rate, the term of the loan and the amount you would like to borrow, to get the
minimum monthly repayment and the amount of interest paid.




Important Note: All calculators are a guide only and should not be considered a quote, a loan offer, or investment advice. Other criteria may need to be considered. Before taking out a loan you should consult your financial adviser and/or your mortgage broker.
  • Refinance Mortgage Calculator Refinancing your mortgage is a process that allows you to change the terms of your current mortgage. If you refinance, you can take advantage of lower interest rates, but you may also end up paying a lot of money for fees because you’re breaking your existing mortgage for a new one. It’s hard to decide when the right time is to refinance, but our mortgage refinance calculator can help make the decision easier by showing you any savings that you could realize in your monthly payments if you do refinance. You can then compare those savings to the fees that your lender will charge you to finance – if any – and have a clearer indication of whether or not refinancing makes sense for you.
  • CMHC Mortgage Insurance Calculator Mortgage default insurance protects the mortgage lender in the event that the borrower can’t make the mortgage payments and ends up defaulting on the mortgage. Mortgage insurance is required for all home purchases with down payments that are less than 20 per cent of the value of the property. The cost of the insurance is often rolled into your mortgage payments, but you should still know how much it costs – you may be surprised to find that it may be worthwhile to save longer for a bigger down payment to avoid paying so much for insurance. Enter your down payment amount and the length of time you wish to repay your mortgage, and our mortgage insurance calculator will calculate the costs of your insurance premium for you.
  • Land Transfer Tax Calculator Land transfer tax, sometimes called a property transfer tax, is a tax on the purchase of property. The amount of the land transfer tax varies widely based on your province and sometimes even the city where the property is located, as well as the value of the property. If you’re a first-time buyer, you may not have to pay a land transfer tax or you may be eligible for a reduced land transfer tax, depending on where you’re buying your home. Sometimes the taxes are tiered, which means that you’ll pay a certain percentage up to a particular purchase price, and then a greater percentage on a particular amount on top of that, for example: 1 per cent on property that is valued to $300,000, 1.5 per cent on anything valued between $300,000 and $500,000, and then 2 per cent on anything valued at more than $500,000. Our land transfer tax calculator will determine the amount you’ll have to pay once you enter the property location, city, and selling price.
  • Mortgage Affordability Calculator This is probably the most important mortgage calculator that you’ll have to use in your home-buying process. In order to figure the amount of money that you can afford for a mortgage, our mortgage affordability calculator takes your yearly income (along with the income of anyone else who’s purchasing the home with you) and monthly expenses into account, which means that in order to get the most accurate results from this calculator, you’ll have to know all of the figures for your monthly expenditures. The mortgage affordability calculator applies the federal lending rules that most lenders use to qualify you for a mortgage, and because of that, it also includes other factors that are important to lenders when assessing your mortgage suitability, such as the amount of debt you have relative to your income, the interest rate given to you by your lender, the length of time you’d like to have to pay off your mortgage, the amount of your down payment, and the type of mortgage that you’d like to get – fixed interest rate or variable interest rate – in order to get you a realistic snapshot of your financial picture and show you exactly how much you can afford to spend on a home.
  • Mortgage Payment Calculator When it comes to getting a mortgage, everyone wants to know the bottom line: How much am I going to have to pay every month for my mortgage? The mortgage payment calculator uses the amount of your mortgage, how often you make the mortgage payments, and the interest rate that you’re getting from your lender in order to figure how much your mortgage payments will be. As with all of the calculators on Which Mortgage, you can play around with the numbers in order to see how the differences in these variables all affect your bottom line. You can also see the breakdown of how much you’re paying in interest for each of the resulting payment options.
  • Australian Mortgage Calculator Interested in the property market down under? Your Mortgage has 17 user-friendly interactive mortgage calculators and tools to help you discover which home loan is best for you in the Australian property market. If you’re a home buyer, a property investor, or both, Your Mortgage compares home loans so you can find one that best suits your needs.
Wednesday Oct 26, 2016
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