Calculator
Run your own numbers.
Test a purchase price, a down payment and a rate, and see what the payment looks like. Every figure here is one you enter yourself.
This field is deliberately blank. I don’t advertise rates here, so enter whatever rate you want to test — or ask me what’s realistic for your situation.
Estimated payment
Enter a purchase price and an interest rate to see an estimate.
This is an estimate for illustration, not an offer of credit or an approval. It covers principal and interest only — it does not include property tax, condo fees, heat, mortgage default insurance or closing costs. Your actual payment depends on the rate a lender approves you at and how the mortgage is structured. Every mortgage is subject to lender approval.
What a calculator can’t tell you
The payment is the easy part.
Whether a lender will approve you
A payment you can afford on paper and a payment a lender will sign off on are two different questions. Qualifying tests your income, your debts, your credit and the property itself.
What rate you'd actually be offered
That depends on your file, the lender, the term, and whether the mortgage is insured. There is no single number, which is exactly why there isn't one filled in for you here.
What the mortgage really costs over its life
The penalty terms if you ever break or move it, the prepayment privileges, whether it's portable — those decide the true cost far more often than the rate does.
If the number above is roughly where you need it to be, the next step is finding out what a lender will actually do with your file. Why the lowest rate isn’t the cheapest mortgage is worth five minutes before you go rate-shopping.
Want a real number instead of an estimate?
Send me your situation and I'll tell you what's actually achievable — including if the honest answer is that it needs some work first.