Canadian mortgage calculators, rates and plain-English guides

Mortgage Payment Calculator

Work out your monthly, bi-weekly, or weekly mortgage payment from the loan amount, rate, amortization, and payment frequency.

Mortgage Affordability Calculator

Estimate the maximum home price and mortgage you may qualify for using Canadian gross debt service (GDS) and total debt service (TDS) ratios.

Mortgage Stress Test Calculator

See the qualifying rate the federal mortgage stress test applies to your application and what it does to your maximum purchase price.

Mortgage Renewal Calculator

Compare your current payment with the payment at a new renewal rate, and see the interest difference over the next term.

Amortization Schedule Calculator

Generate a year-by-year mortgage amortization schedule showing how each payment splits between principal and interest.

Qualifying & Pre-Approval

Down Payment Calculator

Calculate the minimum down payment for a Canadian home under the tiered rules, plus whether CMHC mortgage insurance applies.

Start here

The questions most Canadian borrowers ask first.

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The Canadian Mortgage Stress Test, Explained

The mortgage stress test in Canada, explained: how the qualifying rate is set, who must pass it, and how it changes the amount you are allowed to borrow.

Qualifying & Pre-Approval

How Much Mortgage Can I Afford in Canada?

How much mortgage can I afford? Work through income, debts, the stress test, and the real costs of ownership to land on a payment you can genuinely live with.

Renewal, Refinance & Switching

Mortgage Renewal in Canada: A Step-by-Step Guide

A mortgage renewal is your best chance to cut costs. Learn the notice window, why switching at maturity is cheapest, and how renewal differs from a refinance.

Mortgage Basics

Fixed vs Variable Mortgage Rates in Canada

Fixed vs variable mortgage rate: compare how each is set, how your payments move, and which break penalty applies, so you can choose what fits your budget.

Closing Costs & Insurance

Mortgage Default Insurance in Canada, Explained

Mortgage default insurance protects your lender, not you. See when it is required, how the tiered premium is structured, and how to avoid paying it at all.

Home Equity & HELOC

Home Equity Lines of Credit (HELOC) in Canada

A home equity line of credit lets you borrow against your home at a variable rate. Learn the 65% and 80% limits, demand-facility risk, and the real costs.

First-Time Buyers

First-Time Home Buyer Programs in Canada

The main first time home buyer programs in Canada include the RRSP Home Buyers' Plan, the FHSA, and tax rebates. Learn how each works and how to combine them.

Payments & Amortization

How Mortgage Payments Are Calculated in Canada

See how mortgage payments are calculated in Canada: the semi-annual compounding formula, the principal-and-interest split, and a fully worked example.

Rates & rules

Benchmark rates and lending rules, each attributed to the official publisher with an as-of date.

Rates, rules & land transfer tax →

Bank of Canada policy interest rate (target for the overnight rate)

2.25%

As of September 2, 2026

Source: Bank of Canada

Prime rate (chartered banks)

4.45%

As of September 9, 2026

Source: Bank of Canada

Conventional mortgage: 5-year (chartered banks)

6.09%

As of September 9, 2026

Source: Bank of Canada

Minimum qualifying rate (stress test) — uninsured mortgages

The greater of the mortgage contract rate plus 2% or 5.25%. Not required for uninsured straight switches at renewal since Nov 21, 2024.

As of January 29, 2026

Source: Office of the Superintendent of Financial Institutions (OSFI)

Rates by term

How each term and rate type is priced, and who it suits.

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1-Year Fixed Mortgage Rate

A 1-year fixed mortgage rate locks your interest rate for twelve months, a short-term fixed option for borrowers who expect rates to fall.

2-Year Fixed Mortgage Rate

A 2-year fixed mortgage rate locks your interest rate for two years, balancing rate certainty with a shorter commitment than longer fixed terms.

3-Year Fixed Mortgage Rate

A three-year fixed mortgage locks your rate for three years, often landing near the cheapest point on the yield curve.

4-Year Fixed Mortgage Rate

A mid-length fixed term between the popular 3-year and 5-year options, priced from Government of Canada bond yields, the prime rate, and lender spreads.

5-Year Fixed Mortgage Rate

The five-year fixed rate is Canada's most common mortgage term, priced from Government of Canada bond yields plus a lender spread.

7-Year Fixed Mortgage Rate

A 7-year fixed mortgage rate locks your interest rate and payment for seven years, priced from Government of Canada bond yields and lender margins.

Explore by topic

14 clusters covering the whole life of a mortgage.

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13 guides

Mortgage Basics

What a mortgage is, how Canadian mortgages are structured, and the choices you make before you apply.

13 guides

Qualifying & Pre-Approval

How lenders decide, what the federal stress test requires, and how to get pre-approved.

Rates & Terms

How mortgage rates are set in Canada, what moves them, and how to compare them honestly.

Payments & Amortization

How payments are calculated, how frequency changes them, and how amortization works.

Closing Costs & Insurance

The one-time and ongoing costs of a mortgage: default insurance, land transfer tax, and fees.

Renewal, Refinance & Switching

What happens at renewal, how to switch lenders, and how to refinance without overpaying.

Home Equity & HELOC

Borrowing against home equity: HELOCs, second mortgages, reverse mortgages, and consolidation.

First-Time Buyers

Down payments, the RRSP Home Buyers' Plan, the FHSA, and the federal first-time buyer programs.

Paying Off Faster

Prepayments, payment frequency, and the trade-offs of paying a mortgage down early.

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By Province

Mortgage calculators and land transfer tax for each Canadian province and territory.

Property Types

How financing differs for condos, cottages, farmland, land, new builds, and other property types.