Mortgage calculators
Ontario Mortgage Calculators
Two tools, both built on the Canadian semi-annual compounding convention that FSRA-regulated lenders use. Estimates only - a full review confirms your real number.
Pre-approval and affordability calculator
Enter your household income, monthly debt payments and down payment. The calculator applies the same gross debt service (39%) and total debt service (44%) limits lenders use, and qualifies you at the stress-test rate - the greater of your contract rate plus 2% or the 5.25% benchmark - rather than at your actual rate.
Estimated purchasing power
$486,978
Qualified at the 6.59% stress-test rate
- Maximum mortgage
- $426,978
- Estimated payment
- $2,385 / mo
- Down payment
- $60,000 (12.3%)
Estimate only, using 39% GDS / 44% TDS and $550/mo for taxes and heat. Default insurance premiums and lender guidelines may change your result. A full review with Vince confirms your real number.
Mortgage payment and refinance calculator
Enter a mortgage amount, interest rate and amortization period to see the estimated monthly payment. Useful for pricing a refinance, testing what a renewal rate does to your payment, or comparing a 25-year against a 30-year amortization.
Estimated monthly payment
$2,234 / mo
Calculated at 4.590% with semi-annual compounding (Canadian convention)
- Mortgage amount
- $400,000
Estimate only, based on monthly payments and the Canadian semi-annual compounding standard used by FSRA-regulated lenders. Your actual payment may differ with lender fees, insurance premiums, or a different payment frequency. A full review with Vince confirms your real number.
How to read the results
Estimates, not approvals
A calculator does not verify income, credit or the property. Only a lender's commitment does that.
The stress test drives the number
Your qualifying amount is based on a higher rate than the one you will pay, which is why the result looks conservative.
Property tax and heat count
Lenders include estimated property taxes and heating in your housing costs, not just the mortgage payment.
Debt is the biggest lever
Clearing a car loan or line of credit often raises your purchase power more than saving the same amount in cash.
Down payment tiers
5% on the first $500,000, 10% from $500,000 to $1,500,000, 20% above that - and insurance below 20%.
Amortization changes both
A longer amortization lowers the payment and raises total interest over the life of the mortgage.