Find out if you pass Canada's mortgage stress test and calculate the maximum home price you can qualify for. Uses the OSFI qualifying rate of your contract rate + 2% (minimum 5.25%). Updated for 2026 rules.
Calculate your exact monthly, bi-weekly, or weekly mortgage payment using Canadian semi-annual compounding. Includes CMHC insurance, full amortization schedule, and rate scenario comparisons.
Calculate land transfer tax for Ontario, BC, Alberta, and all other provinces. Toronto buyers get the municipal land transfer tax calculated too. Includes first-time buyer rebates where applicable.
Calculate your CMHC mortgage default insurance premium based on your down payment percentage. Shows the premium rate, total premium amount, and how it's added to your mortgage balance.
Canadian Mortgage Rules — What You Need to Know
Canadian mortgages have important differences from American ones. By law, all Canadian mortgages must use semi-annual compounding under the Interest Act — meaning interest compounds twice per year, not monthly. This makes Canadian mortgage calculations different from what most online calculators (built for the US market) will show you. Our calculators use the correct Canadian formula.
The mortgage stress test requires you to qualify at your contract rate plus 2% (with a minimum of 5.25%). This means even if you get a 4.29% rate, you must prove you can afford payments at 6.29%. As of December 2024, CMHC-insured mortgages are available on homes up to $1,499,999 with a minimum 5% down payment, and first-time buyers can now amortize over 30 years.