Image of a pink square with a house and a calculator Mortgage Calculator

From Financial Consumer Agency of Canada

This calculator determines your mortgage payment and provides you with a mortgage payment schedule. The calculator also shows how much money and how many years you can save by making prepayments.

To help determine whether or not you qualify for a home mortgage based on income and expenses, visit the Mortgage Qualifier Tool.

As of December 15, 2024, if your down payment is less than 20% of your home’s price, your maximum amortization period is:

  • 30 years if you’re:
    • a first-time homebuyer or
    • purchasing a new build
  • 25 years in all other cases

If your down payment is more than 20% of your home’s price, your lender sets your maximum amortization period.

Payment Plan

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Prepayment Plan

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We offer this mortgage calculator as a self-help tool for your use. This tool does not replace professional financial advice. We cannot guarantee that this calculator will apply or be accurate in your situation. For example, your mortgage lender may make its calculations in a different way. All calculations are examples only.
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