Canadian Mortgage Calculator
Our Canadian mortgage calculator is designed specifically to work with Canadian mortgage regulations and criteria.
This calculator will show you how much mortgage you qualify for. It also provides you with your total debt to income ratio and gross debt to income ratio.
When you are dealing with financial institutions these statistics are used to determine both the amount of mortgage you qualify for and the interest rate they may offer you. If you have a very high debt to income ratio, a standard mortgage may be more difficult to arrange, or your interest rate may be higher.
Input the information into the Canadian mortgage calculator required as described then click to find out the amount of mortgage loan you may qualify for. If you do not qualify for the mortgage you thought you would, simply adjust your figures and try again.
You will notice that the last button on the calculator for Canadian loan mortgages creates an amortization schedule. Once you have determined the amount of mortgage you may qualify for, a complete amortization schedule for the loan at the specified interest rate is available.
An amortization schedule shows you, month by month, how much you still owe on your loan after each payment is made and exactly when payments will be completed (based on the monthly payments remaining the same for the entire term of the loan).