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Mortgage calculator
Compare rates, payment frequency, amortization and more to find your best mortgage options.
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Mortgage calculator
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Did You Know?
Because your down payment is under 20% of the purchase price, you will need mortgage insurance. We’ve determined your premium and will include it in the calculations. ×Help/Tutorial
To calculate an amount for you, we've assumed the interest rate is fixed over the entire amortization period. In fact, interest is usually renegotiated at the end of each mortgage term, when rates may be higher or lower. Other options, such as a variable interest rate, can also result in a different payment amount. The qualifying interest used to qualify for mortgage loan insurance is the greater of the mortgage contract rate or the Bank of Canada's conventional 5-year fixed posted rate. For more information, contact your mortgage professional.
Disclaimer
This calculator is for illustrative purposes only. Users should not rely on this calculator to make any financial decisions. While every effort is made to keep this tool up-to-date, CMHC does not guarantee the accuracy, reliability or completeness of any information or calculations provided by this calculator. CMHC is not liable for loss or damage of any kind arising from the use of this tool.
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Date Published: March 31, 2018