Tools
Calculators
Everyday broker math — a monthly payment with Canadian semi-annual compounding and CMHC insurance, plus a break-even check for switching lenders.
Payment & affordability
Deal inputs
Estimated monthly payment
$3,402/mo
Principal & interest · 25-yr amortization at 4.69%
Mortgage amount
$603,135
Loan $585,000
CMHC insurance
$18,135
3.10% — added to loan
Stress-test payment
$4,110
Qualifies at 6.69%
Total interest
$417,522
Over 25 years
Estimates only — for illustration, not a mortgage approval. Insurance premiums and qualifying rules follow current federal guidelines.
Should they switch?
Break-even on a switch
Monthly saving
$221/mo
Est. penalty
$6,514
Break-even
30 mo
Net over term
$1,454
Worth it — breaks even in about 30 months.
Penalty is a rough estimate (three-month interest, or an IRD approximation for a fixed term). Real penalties are lender-specific — always confirm before advising a switch.
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Residential (20)