Payments, CMHC insurance and the stress test — calculated the way Canadian lenders actually do it (semi-annual compounding, 2026 down-payment rules).
Estimate only — not a quote, pre-approval or offer to lend. Actual payments depend on lender terms and qualification. Isha Grewal, Mortgage Agent Level 2, Mortgage Alliance, Licence #10530.
Driven by rate, amortization and frequency. Today's best insured rates: 5-year fixed from 3.94%, variable from 3.25% (July 2026). See current Ontario rates.
Under 20% down, a premium of 2.8%–4% of the loan is added to your mortgage. It's not a fee you write a cheque for — but you pay interest on it for decades. Sometimes a slightly bigger down payment saves a full premium tier.
Lenders qualify you at your rate + 2%. This is usually what limits your budget — and it's where lender choice matters, because different lenders treat income, debts and rentals differently.
Canadian fixed-rate mortgages compound semi-annually, not monthly. This calculator converts your annual rate to the exact periodic rate lenders use, so the payment matches what a bank or broker would quote for the same rate and amortization.
5% of the first $500,000 of the price plus 10% of the portion between $500,000 and $1.5 million. Homes at $1.5 million or above require 20% down and cannot be default-insured. Under 20% down, mortgage insurance (CMHC, Sagen or Canada Guaranty) is required and the premium is added to your mortgage.
To qualify, most lenders test your finances at your contract rate plus 2%. You don't pay that rate — but it determines the maximum you can borrow. The stress-test payment shown in this calculator is the figure lenders check against your income.
Accelerated bi-weekly means paying half your monthly payment every two weeks — 26 half-payments a year, the equivalent of one extra monthly payment annually. It typically shortens a 25-year amortization by 3–4 years and saves tens of thousands in interest.
Affordability depends on income, debts, credit and the stress test — not just the payment. A 15-minute call with a licensed agent gives you a real number across 30+ lenders before you start shopping, with no cost and no obligation.
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