Mortgages
Mortgage calculators for payments, penalties, rate comparisons, and closing costs. Built for Canadian assumptions and terminology.
Mortgage payment & amortization
Payment totals by rate, term, and amortization.
Rent vs buy
Side-by-side ownership and renting costs.
Fixed vs variable
Compare rate paths and total interest.
Mortgage penalty
Estimate prepayment charges under common rules.
Land transfer tax
Ontario land transfer tax estimate by price.
Below-ask offer estimator
Estimate how competitive a below-asking offer may be based on market context and offer terms.
Use these mortgage calculators and guides to compare payments, rates, and penalties with Canadian assumptions in mind.
Who this is for: Canadian buyers and homeowners comparing mortgage payments, penalties, and closing costs.
- Short‑listing options before a pre‑approval or renewal.
- Estimating break costs before refinancing or selling.
Start here
- 1. Estimate your payment with the Mortgage payment & amortization calculator .
- 2. Compare fixed vs variable options based on your term and rate path.
- 3. If you may break your mortgage early, review the penalty estimate .
Guides by calculator
Short, practical guides that explain the assumptions behind the tools and common homeowner scenarios.
Mortgage payment & amortization
Payment totals by rate, term, and amortization.
- How the mortgage stress test works in Canada
A plain‑language guide to qualifying rates, benchmark rules, and why the stress test payment is higher than your contract payment.
- How to compare mortgage rate quotes fairly
A practical checklist for comparing lenders by rate, term, fees, and penalties—not just the headline payment.
- Mortgage insurance: what it covers (and what it doesn’t)
Understand when insurance is required, how premiums are calculated, and the limits that still apply for Canadian buyers.
Rent vs buy
Side-by-side ownership and renting costs.
- How to interpret the rent vs buy break-even year
What the break-even year means, when to trust it, and how to use it in real move-or-stay decisions.
- Costs renters forget when comparing to buying
The overlooked renter costs that skew rent vs buy comparisons, from moving churn to insurance and storage.
Fixed vs variable
Compare rate paths and total interest.
No guides yet. We’re expanding this section.
Mortgage penalty
Estimate prepayment charges under common rules.
- How mortgage penalties are calculated in Canada
A practical walkthrough of common prepayment penalty methods used by Canadian lenders.
- IRD vs. three months’ interest: what’s the difference?
Understand how IRD differs from three months’ interest and why fixed terms can create larger penalties.
- When it might make sense to break your mortgage early
A practical framework for weighing penalty cost against refinancing, sale, or payment reduction benefits.
Land transfer tax
Ontario land transfer tax estimate by price.
- Why land transfer tax surprises buyers (especially in Toronto)
Land transfer tax is easy to overlook in budgeting. Here’s why it matters, how it hits cash flow, and why Toronto buyers feel it most.
Below-ask offer estimator
Estimate how competitive a below-asking offer may be based on market context and offer terms.
- How the stress test affects your offer strategy
Understand how qualifying rules change your budget and why sellers care about financing strength.
- Conditions vs price: what sellers actually value
A practical look at when a cleaner offer can win over a higher price.
- Reading market heat before you go below ask
How to interpret days on market, pricing strategy, and local competition before choosing an offer price.
Data sources & assumptions
Estimates are based on standard Canadian mortgage conventions and typical lender penalty rules. Always confirm rates and fees with your lender.
FAQ
What’s the difference between term and amortization?
Your term is the length of the current contract (often 1–5 years). Amortization is the total repayment period (often 25–30 years).
What is IRD in a mortgage penalty?
IRD stands for interest rate differential. It’s a lender’s estimate of the interest they lose when you break a fixed-rate mortgage early.
Do these calculators include lender fees or legal costs?
No. The tools focus on payment, interest, and tax estimates. Fees and closing costs vary by lender and transaction.
Do the mortgage tools include CMHC insurance?
No. Mortgage insurance depends on down payment and lender requirements. Use official CMHC tables for exact premiums.
Key definitions
Term
The length of your current mortgage contract before renewal.
Amortization
The total time it takes to repay the mortgage in full.
IRD
Interest rate differential; a common method for fixed-rate prepayment penalties.
Prepayment penalty
A fee charged for paying off a mortgage early or breaking the contract.
Last updated: February 3, 2026