Mortgage Payments Calculator

Your payment and best mortgage rate go hand-in-hand.

Our built-for-you Mortgage Payment Calculator instantly gives you a helpful idea of what your minimum monthly payment might be. There are several factors to consider for your best number, and you'll need to go through the federal mortgage stress-test to qualify for your rate.

You've come to the right place. Our lower rates and spot-on advice help get your best monthly mortgage payment.

True North Mortgage has the best rates, thanks to our volume discount that we pass along to you. Plus, we really know mortgages (it's all we do, unlike the banks), and can get you the right mortgage fit — for a monthly payment you can live and grow with. We make it easy to apply online or chat with us, for fast, friendly service.

Here's how our payment calculator works:

Down Payment: When you enter in the home price amount, our calculator will automatically provide the options for your minimum down payment. The calculation formula is determined by current Canadian government regulations:

• 5% minimum down payment on homes under $500,000
• Homes between $500,000 and $1M require 5% of the first $500,000 plus 10% of the remainder
• All homes over $1 million require 20% down, and as such, do not require mortgage insurance
• If you have less than 20% down, you're required to purchase mortgage default insurance which is a premium added to your mortgage

Mortgage Rate: Our True North Mortgage lowest rate is pre-filled, along with 5 Year Fixed term, monthly frequency, with the standard 25 year amortization. You can change all of these amounts to see how they affect your monthly mortgage payment. You still have to qualify for your best rate, but our volume approach may save you thousands over the life of your mortgage.

Take a spin with our Compare & Save Calculator to see how much more you can save through us.

Ultimately, your mortgage situation is unique, and you'll want to know the real numbers. Just hit Apply Now, and the online application form will walk you through the details we need. When you hit 'submit,' we'll get right back to you.