Free Canadian mortgage tool
Canadian Mortgage Calculator
Renewals, rate changes, semi-annual compounding, CMHC, stress test, and prepayment — all in one.
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Most Canadian mortgage calculators give you one rate, one payment, and a single prepayment field. Real Canadian mortgages don't work that way — rates renew, payments can stay fixed or float, and serious borrowers stack prepayment strategies. This tool models all of it, with proper semi-annual compounding, CMHC tiers, the stress test, and provincial land transfer tax built in.
What makes this calculator different
Mid-term rate changes. Switch to Current Mortgage mode and add a rate change at any future date — at renewal, after a promotional period, or in a hypothetical scenario. The amortization schedule and totals all reflect the rate transition. You can also choose whether the payment stays fixed (amortization shifts) or recalculates (amortization stays the same), which are the two real options most Canadian lenders offer.
Every payment frequency, computed correctly. Monthly, semi-monthly, bi-weekly, weekly, and the two accelerated variants. Canadian mortgages compound semi-annually by law — the calculator applies this to every frequency, so accelerated bi-weekly actually saves 3–5 years like it should, not the wrong number you get from US-derived tools.
Composite prepayment strategies. Stack a monthly extra payment with an annual lump sum and a one-time payment, all at once, on specific dates. See the cumulative impact on interest paid and amortization length. Real Canadian mortgages allow 15/15 or 20/20 privileges — the calculator respects those caps.
Canadian-specific math. CMHC insurance tiers (4.0% / 3.1% / 2.8% based on down payment percentage), Bank of Canada stress test at the higher of contract+2% or 5.25%, GDS / TDS ratio affordability checks, and provincial land transfer tax for all 10 provinces.
Save and compare scenarios. Run multiple what-ifs side-by-side without losing your work. Useful for brokers walking clients through options, or for borrowers comparing renewal offers from different lenders.
Frequently asked questions
How is this different from ratehub or the bank's calculator?
Most Canadian calculators assume one rate forever and a single prepayment field. This one models rate changes mid-amortization, supports all six Canadian payment frequencies with proper semi-annual compounding, and lets you stack multiple prepayment strategies at once.
Does it use Canadian semi-annual compounding?
Yes. By Canadian law, mortgages are compounded semi-annually, not monthly. The calculator applies this correctly across all payment frequencies — the numbers match what your lender will actually charge.
Can I model my renewal?
Yes. Switch to "Current Mortgage" mode, enter your current balance and remaining term, then add a rate change at your renewal date. Choose whether the payment stays fixed or recalculates — the two real options lenders give you.
Is the stress test included?
Yes. All borrowers must qualify at the higher of contract rate +2% or the Bank of Canada qualifying rate (5.25%). The calculator applies this rule and flags whether you would qualify.
Does it handle accelerated bi-weekly correctly?
Yes. Accelerated bi-weekly means 26 half-payments per year — equivalent to 13 monthly payments. The calculator computes the resulting interest savings and time saved correctly, typically 3 to 5 years off a 25-year amortization.