Calculate Your Mortgage Payments

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Calculate your payments

Property price

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$25,000
$5,000,000

Down payment

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0 %
20 %
40 %
60 %
80 %
100 %

  • Single family dwellings, condos and duplexes:

    • Minimum down payment of 5% on properties of $500,000 or less
    • For properties over $500,000: Minimum down payment of 5% on the first $500,000 and 10% on the remaining amount

  • Triplexes and quadruplexes: Minimum down payment of 10% for owner-occupied properties

  • Any property with a purchase price greater than $1,500,000 requires a minimum down payment of 20%

Repayment period

years

Interest rate

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%

1 %
4.5 %
8 %
11.5 %
15 %

Results

$418.37 per month

Your mortgage loan1 amount will be:

  • $98,800

  • With insurance premium (CMHC/SagenTM */Canada GuarantyTM): $3,800

Your payments will be:

  • $418.37 per month

Two other payment options

  • $209.18 every two weeks

  • Savings: $2,924.85

  • Repayment period: 22 years, 7 months

  • $104.59 per week

  • Savings: $2,954.35

  • Repayment period: 22 years, 7 months

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Where do these savings come from?
When you opt for accelerated payments (weekly or bi-weekly), you end up making the equivalent of an extra monthly payment per year, which is applied directly to your mortgage principal. This means:
  • considerable interest savings
  • a shorter repayment period (amortization).
Would you like a concrete example of your potential savings? Calculate the Two other payment options for two identical scenarios with different repayment periods.
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Do your calculations

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Calculating your monthly payments

Figure out how much you could repay each month based on your budget.

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Find out if it's more profitable for you to buy or rent.

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Accelerated payments

Pay off your mortgage faster with flexible payments or by using your credit card reward points.

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Pro tip!

Open an FHSA and start saving towards a down payment or other fees related to buying your first property.

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Make a serious offer and protect your interest rate with pre-approval.

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Make an appointment with an advisor to discuss your project, no matter how far along you are in the process.

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Terms of use
National Bank’s virtual assistant

When using our Virtual Assistant Service (the "Chatbot"), you accept these Terms of Use, which are subject to change without notice. Furthermore, you agree to consult these Terms of Use from time to time and acknowledge that your continuing use of the Chatbot means that you have accepted any changes that may have been made. Your continued use of the Chatbot means that you’ve read, understand and agree to these Terms of Use, the Terms of Use for our website, our Online transaction services, and to our privacy policy. You also understand any other agreements that you have with us will continue to apply when you use the Chatbot.

1. Our Services and your responsibilities

The Chatbot is an automated service which is integrated into our online banking platform.

The Chatbot is preprogrammed to answer general questions concerning the use of our online banking platform solely for informational purposes. The Chatbot is not able to answer questions on personal monetary transactions or products you hold with us.

By using the Chatbot, you understand and agree that:

  • The Chatbot does not provide financial advice or financial planning services.
  • The Chatbot does not conduct any banking transactions.
  • The Chatbot may not be able to answer all your questions. Therefore, it may not be able to provide you with the information you require. You must judge whether the answer provided responds to your question accurately. In the case of uncertainty, a customer service representative would be happy to help you. You can call us toll free at 1-888-483-5628 or 514-394-5555.
  • The Chatbot is not a complaint service. You cannot use the Chatbot to file complaints. If you have any complaints, you can contact us at the number indicated above.
  • We monitor, record and store the discussion that you have with the Chatbot to improve our interactions with our clients.
  • You will not provide the Chatbot with any confidential, personal, or private information. For example, you will not provide the Chatbot with your login information, PIN or other personal banking information.

2. Limitation of Liability

You acknowledge that we won’t be liable for any losses or damages that you may suffer as a result of your use of the Chatbot, including if the Chatbot is unavailable for any reason.

We cannot guarantee that the results obtained via the Chatbot will be accurate and reliable and that the answers provided will meet your expectations.

We will not be held liable for damages you incur as a result of:

  • Any delay, error, interruption or omission on our part or any other event beyond our control.
  • Any deficiency or technical error or any unavailability of our systems and wireless networks.
  • Your failure to meet any of your obligations.
  • Any amendment to or suspension, refusal or blockage of the Chatbot.
  • Any decision or measure you take in response to information and data obtained via the Chatbot.
  • Any other damages you may incur that are not caused by negligence on our part.

3. Language

You have requested that these Terms of Use, and related documents be drawn up in English.

4. Governing Law

These Terms of Use are governed and must be interpreted in accordance with the laws in force in the province or territory where you reside. If you reside outside Canada, the laws in force and the courts of competent jurisdiction are those of the province of Quebec.

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