Mortgage Calculator: What payments will you need to make?

Know how much you will have to pay each month for your mortgage

*These figures and calculations are for illustrative purposes only and may not be used for contractual purposes. Certain conditions apply. Subject to change without notice.

Get the best rates on the market

Multi-Prêts rate

Today’s mortgage rates

Multi-Prêts rate

Today’s mortgage rates

Multi-Prêts rate

Today’s mortgage rates

Multi-Prêts rate

Today’s mortgage rates

Multi-Prêts rate

Today’s mortgage rates

Get your rate

* Some conditions may apply. Subject to change without notice. Rates may vary depending on amount borrowed, collateral offered or other factors. Contact your broker at Équipe Caron Mortgage Brokers for more information.

The most advantageous mortgage is here!

What you see on this page are the rates currently being offered by the most aggressive banks and lenders in the market across Canada.

These rates are constantly updated, so you won’t have any nasty surprises when you contact us.

Call us right away and tell us what your needs are: we will tell you what rates you can access, completely free of charge, without obliging you to do anything.

Several elements can influence the interest rate that will be offered to you

Your financial situation and the amount of money you have for a down payment have a direct impact on the interest rate you will be offered. If your down payment is less than 20% of the value of your property, you will have to take out mortgage insurance with the Canada Mortgage and Housing Corporation (CMHC), the costs of which will be reflected in a higher rate. But there are also other factors that affect the rate you pay, such as…
... the type of mortgage product

There are differences between a new mortgage and the refinancing of an existing mortgage. The latter type of product consists of increasing the value of the mortgage in order to build up funds to carry out a project (various purchases), make an investment or pay off debts. However, those who have paid off more than 20% of the value of their property have access to a mortgage line of credit, which may be more advantageous than refinancing.

There is also the mortgage renewal, which is when you have to renew your contract at the end of a term. Again, the interest rates will be different from those offered for a new mortgage or refinance.
... the use of the property
... the amortization period

Should I choose a variable or fixed rate?

If you are willing to accept a potential increase in interest rates, you may want to consider variable rates, which are often lower than fixed rates at the time you take out the loan. Variable rates fluctuate with the lender’s prime rate and the market. If you prefer stability, a fixed rate, which will be the same throughout your term (often 5 years), remains the best option.

More information on fixed rates

The most popular mortgages are the 5-year fixed rate mortgages (they represent almost half of all mortgages), because they allow you to budget your monthly payments precisely, while protecting you from possible increases.

More information on variable rates

Variable rates are attractive because they are often lower than fixed rates. However, they fluctuate with the market, which can work in your favour… or against you, if they increase overnight.

If fixed rates are significantly higher than variable rates, the latter should be seriously considered. Remember that you can switch from a variable rate to a fixed rate at any time, as long as you keep the same lender.

Don’t hesitate to use our mortgage calculator to make simulations and compare your payments with a fixed rate and a variable rate.

Get your rate