HELPFUL TOOLS
Mortgage Rates
Keep up on the latest mortgage rates using this convenient chart and calculator from CANOE.
Salary
Determine your required monthly salary based on your mortgage amount.
CMHC Summary
A summary of fees, terms and conditions applicable to CMHC's home ownership services.
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Amortize It
Estimating your monthly payment, find the figure under the mortgage interest rate (%) that corresponds to the number of years you want to pay off the loan. For example: If your interest rate is 10% and the term of the mortgage is 25 years, then you need to pay $8.95 per month for each $1,000.00 of mortgage. Your monthly payment: $8.95 x ((mortgage amount) / 1,000) = monthly payment. Calculating: If your mortgaged amount is $30,000 you monthly payment is $8.95 x ($30,000 / 1,000) = $268.50.
To calculate your estimated monthly salary requirements, use this chart.
Monthly Payment / $1,000.00 of Mortgage
Rate of
|
Length of Mortgage (in Years)
|
Interest
|
1
|
3
|
5
|
10
|
15
|
20
|
25
|
|
|
3.00%
|
84.69
|
29.07
|
17.96
|
9.65
|
6.90
|
5.54
|
4.73
|
3.25%
|
84.80
|
29.18
|
18.07
|
9.76
|
7.02
|
5.66
|
4.86
|
3.50%
|
84.91
|
29.29
|
18.18
|
9.88
|
7.14
|
5.79
|
4.99
|
3.75%
|
85.02
|
29.40
|
18.29
|
9.99
|
7.26
|
5.91
|
5.13
|
4.00%
|
85.13
|
29.51
|
18.40
|
10.11
|
7.38
|
6.04
|
5.26
|
4.25%
|
85.25
|
29.62
|
18.51
|
10.23
|
7.50
|
6.17
|
5.40
|
4.50%
|
85.36
|
29.73
|
18.62
|
10.34
|
7.63
|
6.30
|
5.53
|
4.75%
|
85.47
|
29.84
|
18.72
|
10.46
|
7.75
|
6.44
|
5.67
|
5.00%
|
85.59
|
29.95
|
18.85
|
10.59
|
7.89
|
6.58
|
5.82
|
5.25%
|
85.70
|
30.06
|
18.97
|
10.71
|
8.01
|
6.71
|
5.96
|
5.50%
|
85.81
|
30.17
|
19.08
|
10.83
|
8.14
|
6.85
|
6.11
|
5.75%
|
85.93
|
30.28
|
19.19
|
10.95
|
8.27
|
6.99
|
6.26
|
6.00%
|
86.04
|
30.39
|
19.30
|
11.07
|
8.40
|
7.13
|
6.40
|
6.25%
|
86.15
|
30.50
|
19.42
|
11.19
|
8.54
|
7.27
|
6.55
|
6.50%
|
86.26
|
30.61
|
19.53
|
11.32
|
8.67
|
7.41
|
6.70
|
6.75%
|
86.37
|
30.73
|
19.64
|
11.44
|
8.80
|
7.55
|
6.86
|
7.00%
|
86.49
|
30.84
|
19.76
|
11.56
|
8.94
|
7.70
|
7.01
|
7.25%
|
86.60
|
30.95
|
19.87
|
11.69
|
9.07
|
7.84
|
7.16
|
7.50%
|
86.71
|
31.06
|
19.99
|
11.82
|
9.21
|
7.99
|
7.32
|
7.75%
|
86.82
|
31.17
|
20.10
|
11.94
|
9.35
|
8.14
|
7.48
|
8.00%
|
86.93
|
31.28
|
20.22
|
12.07
|
9.49
|
8.29
|
7.64
|
8.25%
|
87.05
|
31.39
|
20.33
|
12.20
|
9.63
|
8.44
|
7.80
|
8.50%
|
87.16
|
31.50
|
20.45
|
12.33
|
9.77
|
8.59
|
7.96
|
8.75%
|
87.27
|
31.62
|
20.57
|
12.45
|
9.91
|
8.74
|
8.12
|
9.00%
|
87.38
|
31.73
|
20.68
|
12.58
|
10.05
|
8.90
|
8.28
|
9.25%
|
87.49
|
31.84
|
20.80
|
12.71
|
10.19
|
9.05
|
8.45
|
9.50%
|
87.60
|
31.95
|
20.92
|
12.84
|
10.34
|
9.21
|
8.62
|
9.75%
|
87.72
|
32.06
|
21.04
|
12.98
|
10.48
|
9.36
|
8.78
|
10.00%
|
87.83
|
32.18
|
21.15
|
13.11
|
10.63
|
9.52
|
8.95
|
10.25%
|
87.94
|
32.29
|
21.27
|
13.24
|
10.77
|
9.68
|
9.12
|
10.50%
|
88.05
|
32.40
|
21.39
|
13.37
|
10.92
|
9.84
|
9.29
|
10.75%
|
88.16
|
32.52
|
21.51
|
13.51
|
11.07
|
10.00
|
9.46
|
11.00%
|
88.27
|
32.63
|
21.63
|
13.64
|
11.22
|
10.16
|
9.63
|
11.25%
|
88.38
|
32.74
|
21.74
|
13.78
|
11.37
|
10.32
|
9.80
|
11.50%
|
88.50
|
32.85
|
21.86
|
13.91
|
11.52
|
10.49
|
9.98
|
11.75%
|
88.61
|
32.97
|
21.98
|
14.01
|
11.67
|
10.65
|
10.15
|
12.00%
|
88.72
|
33.08
|
22.10
|
14.19
|
11.82
|
10.81
|
10.32
|
12.25%
|
88.83
|
33.19
|
22.22
|
14.32
|
11.97
|
10.98
|
10.50
|
12.50%
|
88.94
|
33.31
|
22.34
|
14.46
|
12.13
|
11.15
|
10.68
|
12.75%
|
89.05
|
33.42
|
22.46
|
14.60
|
12.28
|
11.31
|
10.85
|
13.00%
|
89.16
|
33.54
|
22.59
|
14.74
|
12.44
|
11.48
|
11.03
|
13.25%
|
89.27
|
33.65
|
22.71
|
14.88
|
12.59
|
11.65
|
11.21
|
13.50%
|
89.39
|
33.76
|
22.83
|
15.02
|
12.75
|
11.82
|
11.39
|
13.75%
|
89.50
|
33.88
|
22.95
|
15.16
|
12.90
|
11.99
|
11.56
|
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