Mortgage Calculators & Tools
Quick, accurate tools to help you understand your mortgage options before you apply.
Mortgage Calculator
Determine Your Payments
Estimate your payment amount and breakdown using Canadian mortgage assumptions, including CMHC insurance where applicable.
Free, no obligation — get your real rate.
(403)-470-7106Payment Breakdown
Mortgage Balance Over Time
Balance remaining, total interest paid, and total principal paid over the full amortization period.
Payment Schedule — Mortgage Term
All payments over the mortgage term.
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| — | ||||
Updated Insured Mortgage Rules
Effective December 15, 2024:
- The insured home-price cap increased from $1M to $1.5M.
- Eligible first-time buyers can extend insured amortization to 30 years.
- New build insured purchases can also use 30-year amortization.
How This Calculator Works
- Uses Canadian semi-annual compounding as required by federal law.
- CMHC insurance is applied automatically when down payment is under 20%.
- Down payment rules follow current Canadian federal thresholds.
- Results are estimates — contact us for your exact personalized rate.
Affordability Calculator
How Much Home Can You Afford?
Enter your income, debts, and expenses to get your estimated maximum mortgage.
These costs are included in your GDS ratio calculation. Enter estimates to get a more accurate affordability picture.
This slider adjusts what portion of your income goes toward housing. Baseline uses standard GDS/TDS ratios required by lenders.
Your mortgage interest rate can be Fixed for the term or Variable (which changes with the prime rate). The stress test qualifies you at max(your rate + 2%, 5.25%).
Amortization is the total time to pay off your mortgage. New mortgages are typically 25 years; eligible first-time buyers and new builds may qualify for 30 years.
Free, no obligation — get your real numbers.
(403)-470-7106How Lenders Calculate Affordability
- GDS (Gross Debt Service): Total housing costs — mortgage payment + heating + 50% of condo fees + property tax — must be ≤ 39% of gross monthly income.
- TDS (Total Debt Service): All debts including GDS + other monthly obligations must be ≤ 44% of gross monthly income.
- Stress Test: You must qualify at the higher of your contract rate + 2%, or 5.25%.
How to Improve Your Affordability
- Increase your down payment — reduces the mortgage needed and may eliminate CMHC insurance.
- Pay off existing debts to free up your TDS ratio.
- Add a co-applicant to combine incomes.
- A longer amortization (30 yrs for eligible buyers) lowers monthly payments.
Renewal Comparison
Compare Your Renewal Rate
See how much you could save by switching to our rate at renewal. Uses Canadian semi-annual compounding.
Switching lenders is free — we handle the paperwork.
(403)-470-7106Renewal Comparison Breakdown
Don't Accept Your First Offer
Most Canadians simply sign their bank's renewal offer without shopping around — and leave thousands on the table. Even a 0.5% rate difference on a $350K mortgage saves over $9,000 in a 5-year term.
Switching lenders at renewal is completely free. We handle all the paperwork and your new lender pays any discharge fees.
How This Calculator Works
- Uses Canadian semi-annual compounding as required by federal law.
- Savings shown are the difference in total payments over the selected term.
- Your actual savings may be higher if you also reduce your amortization.
- Contact us for a personalized renewal analysis with your exact numbers.
Closing Costs Calculator
Know Your Closing Costs
Closing costs run 1%–4% of your purchase price and are on top of your down payment. Calculate yours to avoid surprises on closing day.
These additional costs are often overlooked. Enter your own estimates or use our defaults.
Free — know your numbers before closing day.
(403)-470-71065 Things to Know About Closing Costs
- Closing costs (1%–4%) are due before or on the closing date — in addition to your down payment.
- They cannot be added to your mortgage loan.
- First-time buyer rebates can significantly reduce Land Transfer Tax.
- Alberta has no provincial Land Transfer Tax — one of the lowest closing cost provinces.
- If you cannot cover closing costs at closing your deal can fall through.
Additional Costs to Budget For
- Moving costs (movers, truck rental, packing supplies)
- Utility connection / transfer fees
- Home insurance — required by lenders before closing
- Furniture, appliances, window coverings
- Condo/strata document review (if purchasing a condo)