The Bureau

Mortgage Calculator

See what you can afford in the Lower Mainland. Adjust the sliders to explore different scenarios.

Your Details

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$200K$5M
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%
0%50%

Minimum required: $55,000 (6.9%)

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1%12%

Estimated Payment

$3,722

per month

Principal

$640,000

Total Interest

$476,682

Down Payment

$160,000

Estimates use Canadian semi-annual compounding. For actual rates, speak with a mortgage broker.

Ready to Take the Next Step?

Our team can connect you with a mortgage broker and find properties in your budget.

How It Works

How is the Canadian mortgage payment calculated?

Canadian mortgages use semi-annual compounding (not monthly). This tool applies the correct effective periodic rate: (1 + annual_rate/200)^(1/6) - 1 for monthly payments.

What is CMHC mortgage insurance?

If your down payment is less than 20%, CMHC insurance is required. The premium is added to your mortgage principal. Rates range from 2.8% (15% down) to 4.0% (5% down).

What is the maximum amortization in Canada?

As of 2024, insured mortgages (under 20% down) have a maximum amortization of 25 years. Conventional mortgages (20%+ down) can extend to 30 years.