The Best Canadian Mortgage Calculators
Mortgage Calculators Are Tricky
Mortgage calculators in Canada are all kinds of bad, but it's not totally their fault. Between a semi-annual compounding, provincial vs federal bank regulations, and that banks don't all agree on the number of days in a year, it can get tricky.
The (unfortunate) reality is, mortgage related calculations are tricky. Trying to do them based on Canadian mortgages is even trickier. That said, everyone on the Tekamar team has a DIY approach to life as well, so we understand the fact that sometimes you just want to try and work out some numebrs yourself before phoning us/your bank/your parents. So we've put together a few calculators to help you out.
To use the calculators, you may need to put in a rate, and those rates depend on what type of borrowing you are doing, whether that be insured, uninsured, refinance, rentals etc. To be safe, we'd probably reccomend you use a 5-year uninsured rate (which you can check here).
Psst! Want An Easier Option?
Without being too cheeky, the easiest option to figure out mortgage numbers is to give us a shout and get us to do the work for you! Chatting with us is always free and more imporantly, we have a bunch more internal tools (we're big Microsoft Excel nerds at Tekamar!) so we can be sure you're getting the exact numbers you need.