Mortgage calculator and borrowing capacity

coins with house model and calculator on document. Saving to buy a home

It’s good to be as well-prepared as possible when you’re looking to buy property.


Centris.ca offers tools for calculating mortgages and mortgage loans to help you get a better idea of what mortgage payments and borrowing capacity would look like in your situation. Armed with the right information, you can confidently embark on the search for the best property that suits your budget.

Planning is essential

Financial planning is a crucial aspect of any real estate transaction. Centris.ca offers three calculators to help you search for and find the properties that best correspond to your borrowing capacity. To access our calculators, click on the Tools tab, then choose Calculator in the drop-down menu.

For more on transfer duties, see our article Do you know how to calculate the property transfer duties on Centris.ca?.

Calculating mortgage payments

You may be raring to go on the hunt for property, but you would be wise to ask yourself a few questions first.

  • How much can I afford to spend on a property?
  • What amount does my budget allow for mortgage payments?
  • How much can I offer up front as a down payment?
  • If the bank is offering a good interest rate, which amortization period is best for my budget?

Asking yourself plenty of questions before buying property is natural. Our mortgage calculator helps provide a few answers.

Fill in the appropriate amounts in the white spaces for price of property, down payment, mortgage amount, interest rate, amortization, and payment frequency. Click Calculate to see how much the corresponding payments would be, indicated in the grey spaces.

Click on Monthly payment chart to see the monthly amounts for interest, capital, and residual balance.

You can also view mortgage payments when looking at single-family home property sheets.

Calculating borrowing capacity

It is important to determine the amount you can afford to spend on monthly mortgage payments well ahead of your search. That way, you will know which price category to explore in order to find your future home. If you already know your monthly budget, calculating your borrowing capacity is simple.

Enter the payment amount, payment frequency, interest rate, and amortization, and click Calculate to find out how much you could borrow. That’s how much you can afford to spend on your future property.

Play around with the calculator to test out different amounts and frequencies to calculate borrowing capacity. Try the test!

Centris.ca’s financial calculators can help find a property that suits your tastes and budget. Buying property might be your biggest financial investment.

Use our mortgage calculator to help guide your search by figuring out how much you would be able to borrow.

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