The results provided by this mortgage calculator are based on the information you have entered and are for illustrative and general information purposes only. Calculations assume:

(i) a constant interest rate throughout the selected amortization period;
(ii) interest compounded semi-annually for fixed rates and per payment period for variable rates; and
(iii) a consistent payment schedule with no additional, skipped, or accelerated payments unless selected by you. If you choose an increased or customized payment option, the results reflect only the details you have entered.

These estimates do not include mortgage default insurance (CMHC or other insurer premiums), closing costs, lender fees, or any other applicable charges. Actual mortgage amounts, monthly payments, and qualification criteria may differ based on lender guidelines, credit assessment, property details, and current market conditions. Interest rates may change at any time and may vary when you submit a formal application.

This calculator does not constitute financial, legal, or tax advice. You should consult with a qualified mortgage professional, accountant, or legal advisor before making any financing decisions to ensure the strategy aligns with your financial needs and personal circumstances.

Huron Mortgages makes no express or implied representations or warranties regarding the accuracy, completeness, or applicability of the results generated. Huron Mortgages is not liable for any decisions made or actions taken based on these calculations or for any losses arising from reliance on this information.

• Minimum down-payment guidelines in Canada generally include:
• 5% of the purchase price up to $500,000
• 5% of the first $500,000 + 10% of the amount between $500,000 and $999,999
• 20% for properties priced at $1,000,000 or more (no default insurance available)

For insured mortgages (down payment under 20%), the maximum amortization is typically 25 years, except programs that allow 30-year amortization for qualifying first-time homebuyers or newly built homes, subject to insurer rules and eligibility requirements. Additional conditions may apply. For full details or personalized advice, please contact a Huron Mortgages advisor.