Money tools
Home loan calculator
See your monthly payment and how much interest you pay over the life of the loan.
How this is worked out
The monthly payment comes from the standard loan formula, using the loan amount (price minus down payment), the interest rate and the term.
Fixed-rate mortgages in Canada compound twice a year, so choosing Canada uses semi-annual compounding. Other countries use monthly compounding.
In Canada, a down payment under 20% usually means mortgage default insurance is added; it isn't included here. Property tax and home insurance are also extra.