Mortgage Calculator

Evaluate your mortgage payment with our mortgage calculator. Use the calculator below to estimate monthly payments. The calculator automatically calculates your monthly payments after you enter or change a number and hit the tab key on your keyboard. Calculations are estimates only and may vary due to different tax rates in various cities. Other fees may apply.

Typical loan qualifications are based on the following guidelines.

Gross Debt Service Ratio

Maximum 32% of family gross yearly income (GDS)
Payments include mortgage payments, estimated municipal taxes, estimated heating cost and half of the condo fees if purchasing a condominium.

Total Debt Service Ratio

Maximum 40% of family gross yearly income (TDS)
Payments include all of the above plus any other debts such as Visa, loans etc.

Borrowers may be required to demonstrate their ability to cover closing costs equal to at least 1.5% of the selling price.

Maximum mortgage is 95% of the selling price.

To determine qualifying sources of income, contact Canada Mortgage.com as individual lender policies may vary.