ViewPoint Mortgage Information Centre

Calculate Your Mortgage Payment

Manage your monthly payments.

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How much can you afford?

What is the maximum mortgage you can afford?

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CMHC Insurance Calculator

Manage your monthly mortgage payments.

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Land Transfer Tax Calculator

Find out your provincial land transfer taxes.

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Calculate your mortgage payments

By entering the asking price, our mortgage payment calculator shows you how different down payment scenarios can affect your monthly mortgage payment. Don’t know the asking price? If you’ve been pre-approved for a mortgage, enter a number no higher than the maximum amount you qualify for – anything more than that could stretch your budget too thin.

The calculator also adds any CMHC insurance to your total mortgage amount, lets you choose the best mortgage rate in your province, and details how much your land transfer tax and/or other closing costs may add up to. And don’t forget to check off whether or not you’re a first-time homebuyer, as the calculator can show you some rebates you may qualify for.

How much can you afford?

Before you start the house hunting process, it’s a good idea to get pre-approved for a mortgage. The process is easy but the information a pre-approval takes into account is serious. Our Mortgage affordability calculator takes the numbers a lender will look at and performs the same calculations, to show you the maximum amount you are likely to be pre-approved for.

Your lender looks at a number of things, to prove that you will be able to repay any amount they loan you for the purchase of a home. They will want to know how much you make, how much debt you have, and how much it’s going to cost you on a monthly basis to own a home.

The one thing our calculator does not take into consideration is your credit score, so don’t take the final number as face value; instead, use it to inform your decision, and bring it with you when you meet your mortgage broker to get an official pre-approval.

CMHC insurance calculator

Our CMHC insurance calculator helps you see how different down payment scenarios can affect the amount of your insurance premium. In Canada, the minimum down payment you can make is 5% of the purchase price of a home. However, any down payment between 5% and 19.99% also requires mortgage default insurance. Also known as CMHC insurance, mortgage default insurance protects the lender, should you ever default on your mortgage. After entering the asking price, you will quickly see two things: 1) CMHC insurance is added to the 5%, 10% and 15% down payment scenarios, and 2) the 20% down payment does not require CMHC insurance.

The amount of CMHC insurance you pay depends on both the asking price of the home and the size of your down payment – the more you put down, the less you pay. This can serve as motivation to make a larger down payment, on top of the fact that doing so would decrease your monthly mortgage payment. Finally, the maximum amortization period in Canada is 25 years, but anyone who puts down 20% or more may be able to get an amortization period as long as 35 years.

Land transfer tax calculator

Our land transfer tax calculator helps you calculate the potential land transfer tax you could be paying on a home, so you’re not surprised by it on closing day. Buying a home isn’t an easy decision to make – and it also doesn’t come cheap. On top of your down payment, there are a number of closing costs you will need to save up and pay for, the most expensive of which is often your land transfer tax.

Simply enter the asking price of the home, choose your province and city, and confirm if you are a first-time homebuyer or not. The calculator will show you how much your land transfer tax could add up to. And, if you’re a first-time buyer in certain provinces, you may even notice that you are subject to a rebate.

Depending on which province you live in, you may also be happily surprised to see that your land transfer tax adds up to just a few hundred dollars. Most provinces’ land transfer tax is a percentage based on the purchase price of the home, but Alberta and Saskatchewan instead levy a small fee. No matter how much it adds up to, note that your land transfer tax is a closing cost you must pay for with cash on closing day.