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Why Use a Mortgage Calculator

Using Canada mortgage calculators to determine the exact costs and fees involved with available mortgages prior to accepting any offers can save you thousands of dollars. Mortgage calculators are designed specifically to make these complex calculations simple and efficient, meaning that you can effectively compare the true cost of your mortgages easily by using a Canadian mortgage calculator. Learn to use the free mortgage calculators available here on this website and make the smart decisions when it comes to your Canada mortgage.

Even with a mortgage calculator, it is always advisable to consult with your financial adviser.

Popular Markets in Canada

Calculate Mortgage Rates for:
Ontario: Toronto (GTA), Scarborough, Mississauga, Ottawa, Hamilton, London, Kitchener, St. Catharines
British Columbia: Vancouver, Victoria, Surrey, Burnaby
Quebec: Montreal, Quebec City
Nova Scotia: Halifax
New Brunswick: Fredericton, Saint John
Manitoba: Winnipeg
Saskatchewan: Regina, Saskatoon
Alberta: Edmonton, Calgary, Lethbridge, Red Deer
Newfoundland and Labrador: St. John's
Prince Edward Island (PEI): Charlottetown & much more!

Canada Mortgage vs. USA Mortgage Calculations

Canada mortgages are compounded semi-annually as opposed to the US mortgages which are compounded monthly. This difference refers to compound interest and means that Canadians may actually save more. This is due to the idea that monthly compounded interest rates are more frequent by definition than semi-annual compounding because there are 12 months in a year, which means that for a mortgage that is of equivalent value in both USA and Canada, there will be more compound interest payments in the States thereby resulting in a higher overall fee. This may seem confusing to comprehend at first, but it also means that the calculations for Canada mortgages are different from those for US mortgages.

Basically, to be accurate, you need a Canadian mortgage calculator to calculate your interest fees and mortgage payments if you are in Canada and have a Canadian mortgage.

Mortgage payments are hard enough to calculate by hand, imagine adding in semi-annual compounding into your calculations, and then monthly, bi-weekly or weekly payments. Then changing a simple value can mean re-doing the entire calculations all over again. Thats why so many people don't like doing their own mortgage calculations and rely on help from mortgage brokers or friends. But this is why mortgage calculators exist, to make your job and calculations so much easier and simpler, so you can do them yourself.

Welcome to Canada Mortgage Calculators .com - Canada's Top Mortgage Calculator Resource

Mortgage Payments in Canada are hard to calculate by hand, especially because of the differences to the calculations for US mortgage payments. The internet is full of mortgage calculators for the United States, but because they use a slightly different system, we offer Canadians the free tools and Canada mortgage calculators to determine your Canadian payments and not rough estimates based on US calculators. We are a proud Canadian company and website serving Canadians. Our tools are completely free and we offer exclusive free Canada mortgage calculator widgets so you can place an effective and compact Canadian mortgage calculator onto your website or blog for your Canadian traffic and visitors!

Terms You Need to Know

Mortgage Term:	The length of time during which payments (with interest) are to be made until the next renewal period.
Principal Amount:	The loan amount still not paid back, not counting interest.
Renewal Period:	When the current mortgage term expires & you can renegotiate a new term or pay back the mortgage in full.
Home Equity:	The value of the home that you have already paid off and is yours.

What is So Special About Canada Mortgages? Well, for starters, it’s important to note that Canadian mortgages are compounded semi-annually, which is not the case in the US. This means that Canadians may actually benefit by paying less in the long run. This is important because in Canada we are lucky to be receiving many incentives to purchase homes and invest into property. Many US reports are indicating that real estate in the United States of America is in a slump and home values are decreasing, but Canada’s economy has appeared strong throughout the recession. Coupled with the fact that Canadian immigration continues to grow in hotspots like Vancouver, Toronto, Montreal, several major growth hotspots throughout the Prairies and all over towns and cities in Canada, it seems considering a mortgage loan to purchase a house or property in Canada may be a real smart choice if the finances are weighed and calculated correctly.

This is why we offer unique Canada tools and Canada mortgage calculators, to allow you to make the necessary calculations and discover your options. Determine which mortgage loans are best for you and which plans offer more flexibility and savings in the long run. Calculate your interest payments and your monthly payments, discover your principal, your savings, the difference for monthly, bi-monthly, weekly loans, whether to choose a Variable Rate Mortgage (VRM) or Adjustable Rate Mortgage (ARM) versus a Fixed Rate Mortgage (FRM) and determine whether a Canadian Mortgage Refinance is the right option for you. Read our exclusive articles and find out what to look out for when getting a mortgage in Canada and browse current low mortgage rates in Canada.