MORTGAGE CALCULATORS

Need help calculating payments, down payment, how much you can afford, and more? Whether you’re a first-time homebuyer or looking to refinance, our mortgage calculators will help you by providing you with answers to all your mortgage questions. Consider your options, plan your budget, and get valuable insights to make informed financial choices when it comes to your home financing goals.

Purchase Calculator

Find out how much a home will cost you, by determining your affordability with our Purchase Calculator. Start by entering your down payment, income, and expenses to understand your purchasing power. This tool helps you set realistic expectations by narrowing your property search, and assists you with maintaining a reasonable budget.

Compare Side By Side

Weigh your mortgage options with our Compare Side-by-Side Calculator. This tool allows you to evaluate multiple mortgage options at the same time, helping you identify the best terms and rates that best meet your current situation. Easily compare different loan types, terms, and interest rates in a blink of an eye.

Mortgage Calculator

Our comprehensive Mortgage Calculator breaks down your monthly payments, showing you exactly how much goes towards principal and interest. Adjust variables like amortization period and payment frequency to see how they impact your long-term borrowing costs, allowing you to create a repayment strategy that fits your budget and financial needs.

Required Income

Determine the income required to qualify for your dream home with our Required Income Calculator. By factoring in property price, down payment, and current mortgage rates, this tool helps you understand how much income is needed to get your desired mortgage amount. Use this information to plan your home purchase goals or adjust your home-buying expectations.

Maximum Mortgage

Find out what your borrowing potential is with our Maximum Mortgage Calculator. By considering your income, debts, and down payment, this tool estimates the highest mortgage amount you may qualify for. Use this information to guide your property search and set realistic expectations for your home purchase.

Closing Costs

Avoid surprises on closing day with our Closing Costs Calculator. This tool estimates additional expenses such as land transfer taxes, legal fees, and title insurance. By factoring in these costs early, you can budget more accurately and be prepared with the necessary funds to complete your home purchase.

Debt Service Calculator

Calculate your mortgage affordability with our Debt Service Calculator. This tool calculates your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios, key factors lenders use to determine your mortgage eligibility. Understanding these ratios helps you gauge your financial health and preparedness for homeownership.

Land Transfer

Estimate your exact land transfer tax amount by using our Land Transfer Calculator. This tool factors in your property’s purchase price and location. Remember that is is a significant portion of your overall closing cost. Make the transition into homeownership as seamless as possible by planning and budgeting this cost.

Frequently Asked Questions

How accurate are these mortgage calculators?

Our calculators use up-to-date formulas and data to provide highly accurate estimates. We make sure that we are up to date with all new government rules and regulations. However, they should be used as a guide, and final figures may vary based on specific lender policies and your unique financial situation.

Can I use these calculators if I'm not a first-time homebuyer?

Absolutely! Our calculators are designed for all types of homebuyers and homeowners, whether you’re purchasing your first home, upgrading, refinancing an existing mortgage, or looking to purchase an investment property.

How often should I use these calculators during my home-buying journey?

We recommend using these calculators regularly throughout your home-buying process. As market conditions or your financial situation changes, recalculating can help you make any necessary adjustments to your plans.

Are these calculators specific to Canadian mortgages?

Yes, all our calculators are specifically suited to the current Canadian mortgage market, taking into account factors specific to Canadian real estate and lending practices.

Do I need to input my personal information to use these calculators?

No personal information is required to use our calculators. They operate based on the financial data you input, protecting your privacy while providing valuable insights.

Can these calculators help me decide between a fixed and variable rate mortgage?

Yes, particularly the Compare Side by Side Calculator. It allows you to input different scenarios, including fixed and variable rates, to see how they might affect your mortgage over time.

How do I know which calculator to use first?

Start with the Purchase Calculator to get a general idea of your overall budget. From there, you can use the other calculators to refine your understanding of specific aspects of the mortgage process.

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