Mortgage calculators
Plan your home purchase with our easy-to-use calculators. See what you can afford, estimate your monthly payments, or calculate debt consolidation savings.
What can 8Twelve's mortgage calculators do?
Every calculator below uses the same formulas Canadian lenders rely on, so you get a realistic picture whether you're budgeting for a purchase, checking your options at renewal, or estimating closing costs.
- Payment calculator: estimate your monthly payment from price, rate, down payment and amortization
- Affordability calculator: find your maximum home price using GDS/TDS ratios and the stress test
- Renewal calculator: compare your new rate at renewal against your current payment
- Land transfer tax calculator: estimate closing costs for any province, including Toronto and first-time buyer rebates
- Debt consolidation calculator: see potential savings from rolling high-interest debt into your mortgage
Mortgage Details
Location Details
Estimated Payment
Your expected payment schedule over the full amortization period.
$2,712
Monthly Payment
Mortgage Details
Home Price
$500,000
Interest Rate
5%
Down Payment
$50,000 (10.0%)
Mortgage Term
5 Years
Total Loan Cost
$813,662
Amortization Period
25 Years
Loan Amount
$463,950
Payment Frequency
Monthly
Total Interest Cost
$349,712
No. of Payments
300
CMHC Premium
$13,950
Land Transfer Tax
$6,475
Results are estimates. Your actual payment may differ.
Quick reference guides
Minimum down payment
- < $500K: 5% minimum
- $500K–$999K: 5% on first $500K, 10% on remainder
- $1M+: 20% minimum
CMHC insurance costs
- 5% down: 4.00% premium
- 10% down: 3.10% premium
- 15% down: 2.80% premium
- 20%+: No insurance needed
Stress test rate
- Qualifying rate: contract rate + 2%
- Or benchmark rate (5.25%)
- Whichever is higher
All our calculators
Mortgage payment calculator
Estimate your monthly payment from price, down payment, rate and amortization.
Affordability calculator
Find your maximum home price using GDS/TDS ratios and the mortgage stress test.
Mortgage renewal calculator
Compare your renewal offer to your current payment and see potential savings.
Land transfer tax calculator
Estimate closing costs for any province, including Toronto and first-time buyer rebates.
Frequently asked questions
Which mortgage calculator should I use first?
Start with the affordability calculator if you haven't found a home yet, to set your budget. Use the payment calculator once you have a specific price and rate in mind, and the renewal calculator if you already have a mortgage and your term is ending.
Are these calculators accurate for my actual mortgage approval?
They're close estimates based on the same formulas and rules lenders use, including CMHC premiums, GDS/TDS ratios, and the stress test. Your actual approval also depends on credit, employment, and lender-specific policies, so treat the results as a strong starting point rather than a guarantee.
Are 8Twelve's calculators free to use?
Yes, all our calculators are free with no sign-up required. Run as many scenarios as you like.
Want an exact number?
Our team will calculate your personalized rate and payment based on your specific situation.
Get a free quote →You might also be interested in
Today's Best Rates
See current rates to use in your calculations.
Learn moreFirst Home Buyers
Special programs can lower your costs further.
Learn moreKnowledge Hub
Learn how mortgages work in our resource centre.
Learn moreBest available rate from 8Twelve's lender panel, subject to qualification and lender approval. OAC.