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.
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.
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