FREE CANADIAN MORTGAGE TOOLS

Know your numbers.
Make your move.

Mortgages come with expensive what-ifs. Get clearer answers before you renew, refinance, break your mortgage or buy a home.

Explore all 23 tools Should I break my mortgage? →

23 FREE TOOLSNO SIGN-UPPRIVATE BY DESIGN

HIGH-IMPACT DECISIONS

Start with the important questions.

Go beyond a simple payment. See how the options compare before you commit.

BREAK OR KEEP01 / 03 Is a lower rate worth the penalty?Compare your penalty, switching costs, interest and remaining balance over the same period. Compare my options RENEW OR SWITCH02 / 03 Is my bank giving me a good deal?Put your renewal offer beside an alternative and see the real difference. Compare renewal offers BUY WITH CONFIDENCE03 / 03 How much home can I actually afford?See how income, debts, down payment and the stress test affect your budget. Check affordability

ALL THE TOOLS, ONE PLACE

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Choose a situation or search for exactly what you want to know.

23FREE TOOLS

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FIND YOUR ANSWER

Showing all 23 calculators

Renewing, breaking or switching

For homeowners with a mortgage today. These are the decisions where the numbers matter most.

8 TOOLS

FREE CALCULATOR Should I pay the penalty to get a lower rate? A lower payment is not the same as saving money. This compares both paths over the same period, counting the penalty, the fees and the balance you still owe at the end. FREE CALCULATOR What is my mortgage prepayment penalty? Estimate your prepayment penalty the way most Canadian lenders calculate it, and see how much your lender's IRD method changes the number. FREE CALCULATOR What will my mortgage payout be on my closing date? Selling, refinancing or paying it off? Estimate what you will owe on the day, including daily interest, any penalty and fees, so the payout statement holds no surprises. FREE CALCULATOR Is my renewal offer a good deal, or should I switch? Put your renewal offer next to one or two offers from other lenders. Each is measured over the same months, with costs and cashback counted, so the cheapest option is clear. FREE CALCULATOR How much will my payment go up when I renew? Enter your balance at renewal and the rate you have been offered. See the new payment, how much it changes, and what happens if rates move before you lock in. FREE CALCULATOR Should I switch my variable rate to fixed? Nobody knows where rates are going. See what staying variable or locking in would cost under several rate paths, and how far rates must rise for locking in to win. FREE CALCULATOR At what rate does my variable payment stop covering interest? On a variable mortgage with a fixed payment, find the rate at which your payment stops covering the interest, and what happens to your balance if rates go higher. FREE CALCULATOR Is a blend-and-extend better than breaking my mortgage? Your lender offered to blend your rate instead of charging a penalty? Compare it with keeping your mortgage and with breaking it, over the same period.

Buying a home

What you can afford, what you need upfront, and what it costs to close in Alberta.

6 TOOLS

FREE CALCULATOR What price range should I be shopping in? Enter your household income, monthly debts and down payment. See the highest price that fits the stress test and debt limits, the payment, and what is holding the number back. FREE CALCULATOR Do my income and debts pass the stress test? Enter the mortgage, the rate, your income and your monthly costs. See the rate you are tested at, your debt ratios against the limits, and the income that would pass. FREE CALCULATOR How much do I need to save for a down payment? Enter a home price to see the minimum down payment and insurance cost. Add your savings to see when you could reach your target, and how much an FHSA and RRSP could cover. FREE CALCULATOR What will mortgage insurance cost me with less than 20% down? Enter the price and your down payment. See the insurance premium, the tax you may owe in cash at closing, your total mortgage and how much the premium adds to your payment. FREE CALCULATOR How much cash do I need on top of my down payment in Alberta? Alberta has no land transfer tax, but closing still costs money. Enter your price, down payment and quotes to see your closing costs and the total cash you need on closing day. FREE CALCULATOR Is a 30-year mortgage worth the lower payment? A 30-year amortization lowers your payment but costs more interest. See both side by side, plus the option of taking 30 years and paying as if it were 25.

Payments and paying it off faster

See your payment, your schedule, and what extra payments really save.

3 TOOLS

FREE CALCULATOR How much will my mortgage payment be? Enter the price and down payment, or the mortgage amount. See your payment, the interest you pay over your term, and what you will still owe when it renews. FREE CALCULATOR Do bi-weekly payments really save money? Bi-weekly on its own saves very little. Accelerated payments save real money because you pay a little more each year. See all six options side by side. FREE CALCULATOR What do extra payments or a lump sum save? Add a little to every payment, a lump sum each year, or a one-time amount. See how much interest you save and how much sooner you are mortgage-free.

Equity, debt and selling

Borrowing against your home, consolidating debt, moving and selling.

4 TOOLS

FREE CALCULATOR How much cash can I take out of my home? See how much of your home equity you could borrow, what the new mortgage payment would be, and how much of that payment is for the cash you take out. FREE CALCULATOR Will rolling my debts into my mortgage save money? Rolling debt into your mortgage lowers the rate and the payment. It can also mean paying for it for 25 years. This shows both, and the middle path. FREE CALCULATOR How much cash will I have after selling my home? Start with the sale price, take off commission, GST, your mortgage payout and closing costs, and see what is left for your next home. FREE CALCULATOR How much does a bridge loan cost if I buy before I sell? Buying before your sale closes? Enter both closing dates and the amount you need. See the interest, the fees and what a few extra days would cost.

Renting and investing

Rent or buy, and whether a rental property pays for itself.

2 TOOLS

FREE CALCULATOR Am I better off renting or buying? Compare where you would stand after several years of renting and investing the difference, or buying and building equity. Every input is an assumption you can change. FREE CALCULATOR Will this rental pay for itself? Enter the price, rent, expenses and mortgage. See whether the rent covers everything each month, plus the cap rate, cash-on-cash return and break-even rent.

WHEN A CALCULATOR ISN'T ENOUGH

Numbers are a start.
A good decision goes further.

Lenders, contracts and penalties have fine print. Bring me your scenario and we'll look at your actual options.

Ask Dallas a question

Dallas Hewitt · Mortgage Associate
Complete Mortgage Services Inc.

Educational estimates, not approvals or official lender quotes. Home inspection or appraisal reimbursement of up to $600 after your mortgage funds, subject to the offer conditions. Offer conditions.