Calculate how much you can borrow with our easy-to-use Mortgage Affordability Calculator. Plus, estimate what your mortgage payment, and amortization schedules will be. With the Mortgage Comparison Calculator it helps you establish which mortgage product is right for you.
Check our mortgage affordability calculator For personalized advice, or to apply for a mortgage contact a Mortgage Specialist.
Mortgage affordability calculator details
Mortgage Calculator Definitions
Mortgage amount
Original or expected balance for your mortgage.
Term in years
The number of years over which you will repay this loan, which are between15 years and 30 years.
Interest rate
Annual fixed interest rate for this mortgage.
Monthly payment
Monthly principal and interest payment (PI).
Total payments
All monthly payments over the full term of the mortgage.
Total interest
Total of all interest paid over the full term of the mortgage.
Prepayment type
The frequency of prepayment. The options are none, monthly, yearly and one-time payment.
Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
Finally, and most importantly, the mortgage calculator can tell you whether you can afford to buy the property or not.