Mortgage Rates

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Down payment
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Mortgage Amount
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Mortgage Amount
In case of a new purchase the Mortgage Amount is the funds advanced to the borrower minus the down payment plus the mortgage insurance if applicable. While Renewal and Refinance amount only represent the outstanding balance of your current mortgage.
Rate Type
Type
There are two types of mortgages, variable and fixed with the term length between 6 months to 10 years. The variable rate will fluctuate with the prime rate while fixed rate stays the same for the length of the term. Open mortgage has an advantage of being paid out at any time without penalty but in most cases has higher rate. Cash back mortgage gives you ability to borrow extra funds from the lender when buying a home. Depending of the circumstances the fixed rate is usually a preferred option.
Term
Term
Mortgage Term is the length of time the borrower has the contractual obligations to the lender (i.e. rate, rules, policies, etc.). The term fluctuates anywhere between 6 month and 10 years but most common one is usually 5 years.
Amortization:
Payment Frequency:
Occupancy:
Pre-approval:
Location

View Legal Disclaimer

Different mortgage calculators will produce divergent results based on programming assumptions related to rounding, compounding and/or accrual. The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a mortgage professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for a mortgage. Qualification for mortgages or loans requires additional information such as income, credit score and existing debts which is not gathered in this calculator. All mortgage rates are subject to change without notice. Conventional and refinance rates may be higher. Some rates may not be available in all Provinces. All information such as interest rates, taxes, insurance, etc. are estimates and should be used for comparison only. OAC. E&OE.