Get an instant estimate of your monthly mortgage payments. Adjust the values below to see how different factors affect your payments.
Your Estimated Payment
per month
Loan Amount
$400,000
Total Interest
$293,000
Total Cost
$693,000
Connect with licensed mortgage brokers who can help you secure the best rates and terms.
Get Matched with BrokersLearn about the key factors that affect your mortgage payments and how to optimize your loan.
A down payment of 20% or more avoids CMHC insurance fees and reduces your monthly payments significantly.
Even a 0.5% difference in interest rate can save you tens of thousands over the life of your mortgage.
Choosing a shorter amortization period increases payments but dramatically reduces total interest paid.
Bi-weekly or weekly payments can help you pay off your mortgage faster and save on interest.
Most mortgages allow extra lump-sum payments. Even small amounts can make a big difference over time.
Mortgage brokers have access to multiple lenders and can find you better rates than going directly to banks.
These calculations are estimates. Connect with licensed mortgage brokers who can provide personalized advice and help you find the best rates.