Mortgage Calculator
Plan your home purchase with our easy-to-use mortgage calculator. Estimate your monthly payments and explore different scenarios.
Buying or selling in Calgary?
Mortgage Calculator
Use our free mortgage calculator to estimate your monthly payments and see how different interest rates, terms, and down payments affect your loan.
Monthly Payment Breakdown
Monthly payment: $2,213.89
Principal & Interest
$2,213.89
Total Monthly Payment
$2,563.89
Property Tax
$250.00
Home Insurance
$100.00
Loan Summary
| Loan Amount | $400,000.00 |
|---|---|
| Down Payment | $100,000.00 (20.0%) |
| Mortgage Insurance | None: 20% or more down |
| Loan Term | 25 years |
| Interest Rate | 4.5% |
| Total Principal Paid | $400,000.00 |
| Total Interest Paid | $264,168.05 |
| Total Cost of Loan | $664,168.05 |
Estimates only. Actual payments depend on your lender and qualification. Talk to a mortgage professional.
Rules last reviewed 2026-10-04
Understanding Your Mortgage Options
Fixed Rate Mortgages
A fixed-rate mortgage maintains the same interest rate for the entire loan term. This provides predictable monthly payments and protection from interest rate increases.
Variable Rate Mortgages
Variable rate mortgages typically offer lower initial rates than fixed rates but can change over time based on market conditions. These can save money if rates stay low or decrease.
Down Payment Considerations
In Canada, a 20% down payment avoids mortgage default insurance. However, options for as low as 5% down are available for those who qualify, with added insurance costs.
Need Mortgage Advice?
Connect with trusted mortgage professionals in my network who can provide personalized advice and help you secure the best rates.