Compare the Best Mortgage Rates in Ontario

The Rateswise Mortgage Calculator shows you your monthly payments and helps you compare different rates and down payments to see what fits your budget. It’s great for checking how things like a high ratio mortgage can affect your total cost.

Easy to use, free, and just as accurate as the First National Mortgage Calculator, Rateswise gives you a fast way to explore your options and figure out what your ideal mortgage could look like and all before you talk to a lender.

Estimated purchase price
If you have a purchase agreement, use the sale price
Estimated down payment
Use as little as 5% if you are a first time buyer.
Will this new purchase be:
Now
Rental/Investment
Are you a first time home buyer?
Yes
No

Your estimated purchase price

Down Payment

$200,000

Estimated new mortgage

$800,000

Estimated new interest rate

2.59%

Note:
Scheduled A Banks may require an increase in your down payment based on your application.

Calculate Your Monthly Mortgage Payment

Figure out exactly what you'll pay each month before you house hunt or refinance your current loan. Just enter your home price,
down payment, interest rate, and loan term to see your monthly payment breakdown including principal, interest, taxes, and insurance.

How to Use This Calculator

Enter the price of the home you're looking at. If you already have a deal in place, use that sale price.

Type in your estimated down payment. First-time buyers can put down as little as 5%, but try 20%.

Choose if the home will be your primary residence or a rental/investment property.

Click Yes or No. This helps calculate what kind of mortgage you may need.

Click Calculate, And You’ll get an estimated mortgage amount and a sample interest rate.