Calculator · Mortgage

Canadian mortgage — no surprises

6 tools: stress test, CMHC, early payoff, break penalty, investment property, affordability.

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Monthly payment

$2,890

$1,445 bi-weekly

Total interest

$347,099

Total cost: $867,099

Stress Test (OSFI)

Qualifying rate

6.50%

Required income/yr

$124,187

Bank qualifies you at stress test rate. GDS ≤ 39%: max 39.00% of gross income.

Accelerated bi-weekly savings

Time saved

3р 3м

Interest saved

$51,554

Balance over time

Numbers are clear. Strategy is next.

30 min — we'll review your situation, calculate real numbers, find the best option.

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Calculator provides estimates only. Actual terms depend on lender and credit history. Not financial advice. ETFs, mutual funds, and individual stocks are outside my license; for public market, consult a CIRO-registered advisor. Exempt market securities through Axcess Capital Advisors Inc. (EMD, AB/BC/ON).

Canadian mortgage FAQ

What's the minimum down payment in Canada for 2026?
5% on the portion up to $500K + 10% on the portion from $500K–$1.5M. Above $1.5M requires 20% minimum. Example: a $700K home = $25K (5% of first $500K) + $20K (10% of next $200K) = $45K minimum. Anything under 20% triggers mandatory CMHC mortgage insurance.
What are GDS and TDS and why do they matter?
GDS (Gross Debt Service) is the share of gross income going to housing costs (mortgage + property tax + heating + 50% of condo fees). OSFI limit is usually 39%. TDS (Total Debt Service) adds all other debts (credit cards, car loans, lines of credit). Limit 44%. Exceed either and the bank says no — even if your income is technically enough.
What's the stress test and why does it shrink my max mortgage?
Since 2018 OSFI requires qualifying at the greater of contract rate + 2% or 5.25% (minimum). So if your rate is 5.5%, the bank checks whether you'd handle payments at 7.5%. This cuts your maximum mortgage by roughly 20%. The stress test applies to both insured and uninsured mortgages.
How much does CMHC mortgage insurance cost and when is it required?
Mandatory whenever your down payment is <20%. The premium is added to the mortgage balance and amortised over the full term. 2026 rates: 2.80% (5–9.99% down), 3.10% (10–14.99%), 4.00% (15–19.99%). In Alberta there's also a 7% provincial tax on the premium (paid in cash at closing).
Does bi-weekly accelerated really save money?
Yes — it's 26 payments a year instead of 24 (semi-monthly) or 12 (monthly), so you're effectively making one extra monthly payment each year. On a $500K mortgage at 5.5% over 25 years that's roughly $50K in interest saved and ~4 years off the term. Free trick — you only change the payment schedule.
Should I pay extra monthly or make a lump sum?
Most Canadian mortgages allow a prepayment privilege of 10–20% per year (check your contract). A yearly lump sum + a small monthly top-up is the fastest payoff. The chart on the calculator shows how each strategy changes total interest paid and remaining term.

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