Mortgage payment calculator

Enter the purchase price, down payment, rate and amortization to estimate your payment. Fixed rates are compounded semi-annually (Canadian practice); variable rates, monthly.

Estimate your payment

Loan amount$380,000

Monthly payment$2,210.10

Total interest over the full amortization at the same rate (illustration only)$283,030

Minimum down payment for this price$20,000

See the minimum down payment rules

Mortgage loan insurance is usually added; its premium is not included here.

Estimate only, not a loan offer. Does not include the insurance premium, taxes or fees. Talk to your lender or a mortgage broker.

Frequently asked questions

Payment = P × m / (1 − (1 + m)^−n), where P is the price minus the down payment and n the number of payments. For a fixed rate, m = (1 + r/2)^(1/6) − 1 (compounded semi-annually, Canadian practice); for a variable rate, m = r/12.

No. If the down payment is less than 20% of the price, mortgage loan insurance is usually added; its premium is not included here. The calculation also excludes taxes and fees.

5% of the price up to $500,000; between $500,000 and $1.5 million, 5% of the first $500,000 plus 10% of the portion above; at $1.5 million or more, 20% of the price.

Sources

General information only, not financial or legal advice.

See also

Let’s discuss your plans in Gatineau

To discuss your plans, contact Thomas Lymburner, real estate broker, RE/MAX Direct, OACIQ licence J6215.

Contact Thomas