Bank of Canada policy rate
2.25%
As of 2026-09-11
Rate sourceOntario mortgage affordability
Estimate affordability, mortgage payments and the full cost of buying. Explore current rate snapshots and connect with Avi for a personal review.
Your numbers
Use gross household income and all required monthly debt payments.
Loading today’s lending guideline…
Calculating with current Ontario lending guidelines…
Planning estimate using Canadian semi-annual compounding. The interest rate is editable; lender terms may differ.
Home Price
$
$50K$9M
Down Payment (20.0%)
$
$020% = $160,000
Interest Rate
%
0.5%12%
Amortization
yrs
1 yr30 yrs
Payment Frequency
Monthly Payment
$3,397.83
Loan Amount
$640,000
Total Interest
$379,348
Total Cost
$1,019,348
Down Payment
$160,000
Purchase and financing
$
No CMHC insurance at 20% or more.
$
%
years
Mortgage$640,000
Total down payment$160,000 · 20.0%
Offer deposit after acceptance$40,000
Remaining down payment at closing$120,000
Monthly ownership costs
Calculated total$5,208/month
$
$
$
$
$
$
Closing costs
$
$
$
$
$
$
Rebates and tax treatment
Ontario land transfer tax is included.
Verify financing, taxes and closing costs with qualified professionals.
$
%
$60,000 down payment
CMHC Premium
$16,740
For a 25-year amortization. Ontario PST is 8% of the premium, payable at closing: $1,339.
CMHC Premium Tiers
5% to 9.99%4.00%
10% to 14.99%3.10%
15% to 19.99%2.80%
20% and aboveNone
Canadian mortgage rates
Major bank prime rate
4.45%
As of 2026-09-09
Rate sourceBest advertised insured 5-year fixed
4.09%
As of 2026-09-14
Rate sourceBest advertised insured 5-year variable
3.30%
As of 2026-09-14
Rate sourcePosted conventional 5-year mortgage
6.09%
As of 2026-09-09
Rate sourceNext Bank of Canada announcement: 2026-10-28 at 09:45 ET.
Advertised rates are dated snapshots and depend on eligibility and lender terms. They are not a mortgage offer or a commitment to lend.
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