Plan your purchase
Mortgage calculator
Estimate your monthly payment and see how price, down payment, rate and amortization affect what you’ll pay each month.
Mortgage Calculator
- Principal
- $0
- Down payment
- $0
- Total interest
- $0
Estimate only — not a loan offer. Excludes taxes, insurance & condo fees. Confirm rates with a licensed mortgage professional.
Mortgage FAQs
How much down payment do I need in Canada?
For homes up to $500,000 the minimum is 5%. Between $500,000 and $1,500,000 it’s 5% on the first $500,000 and 10% on the remainder. At $1,500,000 or more, 20% is required. Under 20% down requires mortgage default insurance (CMHC).
What is mortgage amortization?
Amortization is the total length of time to pay off your mortgage — commonly 25 years. A longer amortization lowers monthly payments but increases total interest paid.
Does this calculator include property taxes and condo fees?
No — this estimates principal and interest only. Budget separately for property taxes, home insurance, utilities and any condo maintenance fees.
How do I get a real rate?
Rates shown are for estimating only. RJ can connect you with trusted local mortgage brokers to get pre-approved at a real, current rate before you shop.
Next steps for buyers
Ready to start your home search?
Get pre-approved, then let RJ help you find the right home across Durham Region.