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The Multi-Prêts mortgage payment calculator

At Multi-Prêts, we want to put all the chances on your side to make the best decisions regarding your mortgage loan and get you the best rate. To help you in your calculations, we put at your disposal our mortgage payment calculator. 

It allows you to determine the amount of your payments based on various factors, such as the length of the repayment, the frequency of payments and the type of term (variable, fixed). 


Note that as of July 9, 2012, the maximum amortization period is 25 years for mortgages with less than 20% down payment. 

mortgage payment calculator

Some tips for the down payment

The down payment is the first amount you pay for your home, while the mortgage covers the rest of the balance. Depending on the price of your property, you will need to put down a down payment equal to or greater than the minimum price required. 

You should also be aware that any down payment that is less than 20% of the purchase price will require mortgage default insurance.


Here is the minimum percentage of the down payment based on the price of your property:

The minimum down payment for a rental property (duplex, triplex or quadruplex) varies depending on whether or not you wish to live in the property. If you do not live in one of the units, it must be equivalent to 20% of the purchase price. 

Otherwise, it works the same way as the single-family home for the duplex, and its minimum amount is 10% for the triplex or quadruplex.

Some advice on the repayment period

The mortgage amortization period is the period at the end of which your mortgage must be paid off in full. If your down payment is less than 20%, the maximum amortization period allowed is 25 years. If your down payment is less than 20%, the maximum term is 30 years.

The more years it takes to pay off your mortgage, the smaller your payments will be, but the more interest you’ll pay. Use our calculator to see the impact of amortization on your payments and the total cost of your home.

Some tips on mortgage payments

Ideally, your housing costs (mortgage payments, heating costs, etc.) should not exceed 39% of your gross income. If you borrow too much or plan to make large payments, you may find yourself in trouble if your income goes down or your expenses go up, for example.

At Multi-Prêts, our mortgage brokers are there to give you the best advice and simplify the choice of your mortgage!

Get your Free and personalized estimate !

Our mortgage brokers work with over 25 financial partners to get you the best offers with the best rates and conditions! All this in less than 24 hours.