Deterministic mortgage tool
BC mortgage calculator
Compare payment scenarios using Canadian mortgage-rate conversion, amortization and payment frequency. This is an educational estimate—not an approval, qualification result or lender quote.
How this calculator converts a Canadian mortgage rate
Canadian fixed mortgage rates are commonly quoted using nominal annual interest compounded semi-annually. For regular payment frequencies, the calculator converts that quoted rate to the effective rate for each payment period before calculating the payment.
How accelerated payments are handled
Accelerated biweekly uses one-half of the equivalent monthly payment every two weeks. Accelerated weekly uses one-quarter of the equivalent monthly payment every week. Because 26 biweekly or 52 weekly payments occur in a year, accelerated schedules pay more than twelve monthly payments over a full year.
What this calculator does not determine
It does not determine mortgage approval, maximum qualification, an available lender rate, insurance eligibility, a prepayment penalty, closing costs or the suitability of a mortgage product. Those depend on additional borrower, property and lender information.