Run the numbers. Then understand what they mean.
Use the calculators to explore mortgage scenarios before making a decision.
They cannot tell you whether a lender will approve the mortgage or which income the lender will use.
They can help answer questions such as
- What might the monthly payment look like?
- What happens if the rate changes?
- How does a different amortization affect the payment?
- What happens if I increase the down payment?
- How much interest may be paid over time?
Mortgage Payment Calculator
Estimate principal-and-interest payments using:
- Mortgage amount
- Interest rate
- Amortization
- Payment frequency
Insured mortgages (less than 20% down) are generally limited to 25 years, or 30 for first-time buyers and new builds.
Monthly payment
$2,876.79
Principal and interest on $500,000 at 4.89%
- Total interest estimate
- $363,038
- Balance after 5 years
- $441,769
- Paid off in
- 25 years
Assumes the rate stays the same for the full amortization. Estimate only.
Comfortable with the payment?
The next question is whether the mortgage can be supported by the application. For a self-employed borrower, that can depend on how the lender assesses salary, dividends, business income and other obligations.
Payment is not the same as qualification.
A calculator answers:
“What is the mathematical payment?”
A mortgage review asks:
“Can this borrower and property support this financing under a lender’s criteria?”
Those are different questions.
Qualification may involve:
- Verified income
- Debts
- Credit
- Down payment
- Property costs
- Mortgage structure
- And lender policy
Compare scenarios instead of guessing.
Save the current numbers as Scenario A, change something (the rate, amortization or frequency), then save Scenario B. Scenarios stay in this browser only.
| Figure | Scenario A | Scenario B |
|---|---|---|
| Mortgage amount | — | — |
| Rate | — | — |
| Amortization | — | — |
| Payment | — | — |
| Total interest estimate | — | — |
| Balance after 5 years | — | — |
More calculators
Specialist calculators for affordability, the stress test, down payments, land transfer tax, renewals, refinancing and more. The same rules apply: estimates for planning, not approval.
Start here
Buying a home
Renewal, refinance and equity
- Mortgage renewalCompare two renewal rates
- Payment shockHow much will renewal cost me?
- Prepayment penaltyWhat would breaking early cost?
- Mortgage refinanceTap equity or change your rate
- Blend and extendBlend your old rate with today's
- Debt consolidationRoll debts into your mortgage
- HELOC paymentInterest-only vs paying it down
- HELOC borrowing powerHow much equity could I tap?
- Reverse mortgageWhat could I owe over time?
Investment and commercial
Calculator disclaimer
Calculators are provided for general informational and illustrative purposes only.
Results are estimates and may not reflect lender-specific qualification requirements, mortgage-insurance premiums, taxes, fees, available products, payment calculations or other transaction costs.
Calculator results do not constitute:
- Mortgage approval
- Pre-approval
- A rate commitment
- A lending commitment
- Financial advice
- Tax advice
- Or legal advice
Mortgage rules, rates and lender requirements can change.
For advice about your specific circumstances, speak with the appropriate licensed professional.
Mortgage rules last reviewed: September 29, 2026
The calculator gives you a number. Igor can help you understand whether the number fits the file.
No credit check to start · Initial review at no cost · Nothing submitted without your approval