The result on screen
When you change an input, the formulas immediately recalculate the result in your browser.
How it works
What the calculator does, and what it does not.
Every result is calculated in your browser from your inputs and a dated set of rules. It is a planning starting point, not an approval, quote, or forecast.
Instant recalculation Editable assumptions Clear boundaries
The formulas and rules
Tax brackets, thresholds, and planning guides are embedded in code with a manual review date.
No lender or regulator connection
The site does not request a live rate, approval, or rule from a lender, government, or listing service.
Calculation methods
What happens behind each tool.
Each explanation pairs the calculation logic with the boundary you should keep in mind.
Mortgage payments
We convert the Canadian nominal rate compounded semi-annually to an effective monthly rate, then apply a level-payment annuity formula.
The payment is an estimate. Your lender provides the actual rate, schedule, and fees.Renewal and amortization
Comparisons start with the balance at the beginning of the new term. Schedules simulate each payment and apply extra payments directly to principal.
Prepayment privileges and switching costs depend on the mortgage contract.Affordability and comfort
The estimated lender limit uses the greater of 5.25% or the contract rate plus 2 points, with guides of 39% for housing costs and 44% for all debt. The comfortable range uses 32% and 40%.
The comfortable range is a planning guide, not a lending rule or approval.Down payment and insurance
The embedded minimum is 5% of the first $500,000, then 10% up to a price below $1.5 million. At $1.5 million and above, the tool requires 20%. Insurance premiums are added to the loan.
Insurance eligibility and applicable sales tax still need confirmation.Closing costs and regional transfer fees
After you choose a province or territory, the tools apply that region’s published transfer tax, deed duty, or land-title registration schedule. Toronto and Nova Scotia expose the relevant municipal inputs.
Buyer relief depends on eligibility, and some municipalities use different rates. Service allowances are not quotes.Selling and buying next
Net proceeds start with the sale price you enter, then deduct the mortgage, penalty, percentage or fixed brokerage quote, tax, and moving costs. You choose the low/high sale-price range.
The tool does not provide a property valuation or replace local comparable sales.Rent versus buy
The comparison projects costs from the rent, purchase price, financing, maintenance, growth, selling costs, and the alternative return on the down payment you enter.
It compares scenarios. It does not forecast rents, home prices, or investment returns.Data freshness
What the dates actually mean.
A date records the latest review or embedded release. It does not promise continuous monitoring.
Updates are not automatic. The site does not currently monitor policy changes or refresh market figures live. An official source may publish a newer rule or period before this page is revised. Always check the source before making a commitment.
Use the result for planning
- Compare scenarios using the same assumptions
- Estimate a payment, budget, or cash requirement
- See which inputs change the decision most
- Prepare better questions for a professional
Confirm before acting
- Approval, rate, penalty, and terms with the lender
- Taxes, rebates, and eligibility with a professional
- Legal, inspection, insurance, and moving quotes
- Value and recent comparables with a local source
Primary sources
See all sources