Mortgage calculator
Your monthly payment, the minimum down payment, the mortgage insurance premium, and an estimate of the price you might qualify for under the stress test. Built on the rules in effect in October 2026.
These are estimates from the general rules below, not a pre-approval. A lender looks at your credit, income history and the property itself.
Go through your numbers with ReneHow the calculator works
Payments use semi-annual compounding, the way Canadian fixed-rate mortgages are calculated, over the amortization you choose.
Minimum down payment is 5% of the first $500,000 of the price and 10% of the part from $500,000 to $1,499,999. Homes at $1.5 million or more need 20%, and mortgage insurance isn’t available at that price.
Mortgage insurance applies with less than 20% down. The premium is a share of the loan, added to the mortgage:
| Loan as a share of the price | Premium |
|---|---|
| 80.01% to 85% | 2.80% |
| 85.01% to 90% | 3.10% |
| 90.01% to 95% | 4.00% |
| Amortization over 25 years | add 0.20% |
What you could qualify for follows the standard insured-mortgage limits: at the stress-test rate (the higher of your rate plus 2 points or 5.25%), housing costs can’t be more than 39% of gross income (GDS) and all debt payments no more than 44% (TDS). Housing costs include the mortgage payment, property tax, heating and half of any condo fees.
Each lender and insurer applies these rules in its own way, and your credit history matters too. Use these numbers as a starting point for a conversation with a mortgage specialist, not as a pre-approval.
Sources: Financial Consumer Agency of Canada, CMHC premiums, CMHC GDS and TDS, OSFI minimum qualifying rate, City of Calgary 2026 tax bylaw. Checked October 2026.
Questions about the numbers
Why is my qualifying amount lower than I expected?
Lenders don’t qualify you at your actual rate. They use the stress-test rate, the higher of your rate plus 2 points or 5.25%, so you could still afford the payment if rates rose. Your other debts, like a car loan, also reduce how much you can borrow.
Does the calculator include the mortgage insurance premium?
Yes. With less than 20% down it adds the premium to your mortgage, using the standard rates for your loan-to-value, plus 0.20% for a 30-year amortization.
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