Skip to content
Empower Approved
Contact

Mortgage Calculators

Run the numbers.

Seven calculators built for Canadian buyers — from your first home to refinancing, debt consolidation, and the full real cost of ownership.

Start with renewal savings

Renewal & switch savings

Compare today's mortgage with a proposed one.

Payments, term interest, principal repaid and fee break-even, side by side. Illustrative only.

Illustrative comparison

What could your payment look like?

Today
Proposed

Today

$7,004/mo

Proposed

$5,816/mo

Estimated monthly payment relief

$1,188

$14,257 per year lower

Interest over 36-month term
$202,148 vs $143,852
Principal repaid in term
$50,002 vs $65,526
Interest saved, after costs
$53,296
Costs recovered in
5 months
  • Payment relief and interest savings are different. Both are illustrative estimates only.
Talk it through with a broker

Optional. You don't need to share contact details to use this calculator. Results are estimates using Canadian semi-annual compounding, are not rate offers, and approval is not guaranteed.

Illustration A · hypotheticalNot a real client

From a private mortgage to a B lender

Estimated monthly payment relief

$1,935

$8,333 → $6,398 /mo

Balance
$1,000,000, no new borrowing
Today
10% interest-only
Proposed
6% amortizing, 25 yrs
Term compared
1 year
Assumed costs
$15,000
Interest saved after costs
$26,220

Part of this relief comes from moving off interest-only payments with a lower rate; the new payment also repays principal. Rates are hypothetical, not current offers. Excludes taxes, insurance, prepayment privileges and any penalty not included in costs. Approval is not guaranteed.

Illustration B · hypotheticalNot a real client

From a B lender to an A lender

Estimated monthly payment relief

$1,188

$7,004 → $5,816 /mo

Balance
$1,000,000, no new borrowing
Today
7% amortizing, 25 yrs
Proposed
5% amortizing, 25 yrs
Term compared
3 years
Assumed costs
$5,000
Interest saved after costs
$53,296

Same amortization on both sides, so the difference reflects the rate. Rates are hypothetical, not current offers. Excludes taxes, insurance, prepayment privileges and any penalty not included in costs. Approval is not guaranteed.

Seven calculators

Pick the question you need answered.

Monthly Payment Calculator

See your monthly mortgage payment based on price, down payment, rate, and amortization.

$
$

20.0% down

%
years
Your Results
Monthly payment
$3,431.35
Mortgage amount$600,000
CMHC premium (added to loan)$14,400
Total loan amount$614,400
Bi-weekly payment$1,583.70
Accelerated bi-weekly$1,715.67
Talk to a Mortgage Expert

Calculations are estimates for illustration only and use standard Canadian conventions (semi-annual compounding, 2024 CMHC rates, Ontario LTT). Actual rates, fees, and qualification depend on your full application — talk to us for a personalized assessment.