Mortgage calculator
Calculate your capacity, your payment and your down payment.
Three ways to simulate your project, in real time. Indicative results, no commitment, and no need to leave your contact details.
Calculate based on
Income
Monthly debts
Breakdown of your monthly payments
Total monthly debts : $0
Property costs
Leave at 0 to use an indicative estimate of 1% of the purchase price per year.
Default estimate of $120 per month, editable.
Loan settings
Minimum down payment applicable for this price: $20,698
The rate used is for simulation purposes only. The rate actually offered will depend on your file, the product and the lender.
An insured 30-year amortization adds a 0.20 percentage point insurance surcharge.
Your results
Estimated capacity
$413,958
- Down payment
- $82,792
- Mortgage amount
- $331,167
- Total amount financed
- $331,167
Monthly payment
$1,924
- Bi-weekly
- $888
- Accelerated bi-weekly
- $962
GDS and TDS ratios are calculated using the qualifying rate. Qualifying rate : 6.99 %
- Qualifying rate
- 6.99 %
- Amortization used
- 25 years
- Municipal taxes used (actual)
- actual
- Heating used
- $120 / m
- Estimated insurance premium
- $0
Based on the information provided, your scenario could sit around these amounts.
Indicative estimate. Qualification criteria may vary by lender and borrower situation.
Want to know what you could actually get?
How this mortgage calculation works
Mortgage borrowing capacity
Your borrowing capacity depends on your income, debts, property costs and the qualifying rate. Lenders use two ratios: GDS (housing costs over gross income) and TDS (housing costs plus debts over gross income).
Mortgage payment calculation
In Canada, mortgage rates are compounded semi-annually. The monthly payment is calculated on the total amount financed, including the insurance premium when applicable, over the selected amortization.
Down payment calculation
The minimum down payment is 5% up to $500,000, then 10% on the portion above, and 20% from $1,500,000. Below 20%, a mortgage loan insurance premium is added to the amount financed.
How much can I borrow?
The calculator gives an order of magnitude. The amount actually granted depends on credit, income stability, property type, mortgage product and lender policies.
Frequently asked questions about the mortgage calculator
Is this mortgage calculation accurate?
It is an estimate based on the usual ratios and rules in Quebec. Actual amounts may vary depending on the lender, product, credit and eligible income.
What is the qualifying rate?
Lenders qualify your file at the higher of your rate plus 2% and 5.25%. The calculator applies this rule to the borrowing capacity calculation.
What minimum down payment should I plan for?
5% up to $500,000, 10% on the portion between $500,000 and $1,500,000, and 20% from $1,500,000. Also plan for closing costs on top of the down payment.
Do I have to leave my contact details to use the calculator?
No. The calculation is free and available without a form. Your details are only requested if you want your results by email or want to validate your capacity with me.
How do I know how much I can really borrow?
By validating your file with a mortgage broker: income documents, credit report and lender policies make it possible to establish a reliable amount.
Results are provided for information purposes only and constitute neither a pre-authorization nor a mortgage approval. Actual eligibility depends on the lender, income, debts, credit, the property and the mortgage product.