Mortgage Calculator

Find out the best home loan for your need, determine what you can afford to borrow, and learn all the facets of homeownership or property investment

Calculate your mortgage repayments

Use our mortgage calculator to get a snapshot of your monthly, bi-weekly, or weekly repayments. Just enter your loan amount and interest rate below and we will calculate your repayments!

Repayment calculation is based on a loan period of 30 years

How Our Mortgage Calculators Work

Finding a home loan is one of the most stressful parts of the home buying process. To make it easier, Which Mortgage Canada provides homebuyers with the necessary tools that can help find the right home loan.

Our various calculators will help you in different aspects of home buying. To know how much you can afford to borrow for a mortgage, use our Mortgage Affordability Calculator. Want to know how much is your possible mortgage payment? Our Mortgage Repayment Calculator can help you get a snapshot of your possible monthly, weekly, and bi-weekly mortgage payments.

Our CMHC insurance and land transfer tax calculators will also help you examine how much you need to pay for your mortgage insurance and land transfer taxes, respectively. If you’re interested to refinance your home loan, you can use our Mortgage Refinance calculator to see how much you could save in your monthly payments when refinancing.

Which Mortgage Canada provides these tools and more to make the home buying process a whole lot easier for homebuyers.

How to use our Mortgage Calculators

To use our mortgage calculators, supply the relevant information required. Make sure to provide the most accurate information for each calculator to get a precise assessment.

How much mortgage can I afford?

If you’re interested to assess your borrowing capacity, you can use our Mortgage Affordability Calculator. It determines how much you can afford for a mortgage based on your yearly income—along with the income of anyone else purchasing a home with you and your monthly expenses.

The calculator also takes into account your location and the type of loan you’re looking for in order to help you understand the size of a mortgage you can afford.

How can I determine my monthly, bi-weekly, or weekly mortgage repayments?

Our Mortgage Repayment Calculator helps you determine the amount you need to shell out for your home loan. To calculate your mortgage repayment, you need to indicate your loan amount and interest rate. The calculator assumes an amortization period of 30 years and a monthly frequency for repayments. You can change this by selecting the “change additional options”.

After the initial calculation, you can use the estimated results page to change the repayment frequency and see how this affects total interest.

Do I need mortgage insurance?

To know the amount to pay for your mortgage insurance, you can use our CMHC Mortgage Insurance Calculator. This tool factors in the asking price, the amount of your down payment and your amortization period to give you the best estimate of the cost of your insurance premium.

You can also use our Land Transfer Tax Calculator to determine how much you will pay for your property tax. Your property tax will be based on your province and the property’s selling price. Select your province from the list and enter your asking price to find out how much the land transfer tax for your location. Note that different rules and regulations apply depending on your location.

How will I know if it’s a good idea to refinance my home loan?

To get a snapshot of what refinancing could do for you, use our Mortgage Refinance Calculator. This tool will help you estimate the savings you could possibly make if you choose to refinance your mortgage. The calculator examines information about your current mortgage and your planned refinanced mortgage to get an idea of how much you could save. It also takes the closing costs into consideration, so you can tell if refinancing might save you money in the long-term.

I want more help about my home loan, whom should I consult?

Our Mortgage Calculators will give you rough estimates of the information you are looking for, helping your home buying process. However, it will not give you all the answers to your queries. Mortgage brokers will be able to give you a deeper understanding of the results from our calculators.

Mortgage brokers can provide you with advice and tips to make sure you understand everything about a home loan. They can also assist you in getting the best home loan deals that fit your needs and capacity. Don’t have a mortgage broker yet? Let us help find one near you.