Run your own numbers
Seven calculators built on Canadian mortgage rules. Change any number.
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Leave your name and a phone number or email. I receive the numbers from the calculator above and get back to you with what they mean for your file.
What the numbers assume
The results are estimates. An approval depends on your full file.
- Interest is compounded twice a year, the way Canadian fixed-rate mortgages are.
- Minimum down payment: 5% of the first $500,000 and 10% of the rest, or 20% from $1.5 million.
- Under 20% down, default insurance of 2.8% to 4% is added to the loan, plus 0.2% for an amortization over 25 years.
- Affordability uses the stress test: your rate plus 2%, or 5.25% if that is higher, with housing costs up to 39% of income and all debts up to 44%.
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Tyler SomersMortgage Agent
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