Mortgage & Loan Calculator

This mortgage and loan calculator helps you understand the true cost of borrowing before you commit. Whether you're buying a home in Canada, the USA, the UK, or Australia, simply select your country at the top to automatically adjust currency symbols, terminology, default loan terms, and relevant insurance fields.

Home Price & Down Payment: Enter the full purchase price of the property. Your down payment can be entered as a dollar amount or a percentage — both fields sync automatically. A higher down payment reduces your loan amount and typically eliminates mortgage insurance requirements.

Interest Rate & Term: The interest rate is your annual rate (not monthly). The amortization period is how many years until the mortgage is fully paid off — 25 years is the Canadian standard; 30 years is common in the US and Australia.

Principal & Interest vs Total Monthly Out-of-Pocket: The P&I figure is your core mortgage payment. Your Total Monthly Out-of-Pocket adds property tax, home insurance, mortgage insurance, and HOA/strata fees. This is the real number to budget for.

Canadian users — CMHC: If your down payment is less than 20%, CMHC insurance is automatically calculated at 2026 rates: 4.00% (5–9.99% down), 3.10% (10–14.99% down), and 2.80% (15–19.99% down).

US users — PMI: Estimated at ~0.75% annually when down payment is below 20%. Can typically be cancelled once you reach 20% equity.

🇨🇦 Stress Test: Enable the toggle to see the Bank of Canada qualifying rate — your contract rate + 2% or 5.25%, whichever is higher.