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Plan Your Loan

Mortgage Payment Calculator

Calculate your mortgage payments and learn how to save thousands of dollars in interest costs by paying off your mortgage faster!

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Mortgage Calculator

Simulate your payments in seconds

Multi-Prêts

Presented by

The Caron Multi-Prêts Team

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Estimated Payment

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Your Multi-Prêts Scenario

Adjust the amounts, choose your rate and instantly see the impact on your monthly payments. Use the advanced options to plan your repayment strategy.

Total Loan Cost

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Total Interest Paid

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Insurance Premium

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Our Multi-Prêts specialists review your results and recommend the best products to bring your project to life.

Payment Breakdown

Principal vs interest over the first 25 years.

Remaining Mortgage Balance

See how your balance decreases year after year.

Our mortgage rates

There are two main types of mortgage loans: open and closed. A closed mortgage is the most popular among homeowners because it offers the lowest interest rates, whether fixed or variable. However, it limits early repayments without penalty. An open mortgage, on the other hand, offers full flexibility — you can repay any amount at any time without penalties, making it ideal for those planning to sell or expecting funds soon.

1 year

Fixed

4.89%

3 years

Fixed

3.89%

5 years

Fixed

3.94%

7 years

Fixed

4.59%

Variable

Variable

3.7%

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Financing Strategy

Should I choose a variable or fixed rate?

If you are ready to accept a potential increase in interest rates, you may consider variable rates, which are often lower than fixed rates when you take out the loan. Variable rates fluctuate with the lender’s prime rate and market conditions. If you prefer stability, a fixed rate—which remains the same for the entire term of your loan (often 5 years)—is the safest option.

Key takeaway

If fixed rates are much higher than variable rates, you should seriously consider going variable. Remember that you can switch from a variable rate to a fixed rate at any time, as long as you stay with the same lender.

Feel free to use our mortgage calculator to run simulations and compare your payments with a fixed rate versus a variable rate.

More information on fixed rates

Five-year fixed-rate mortgages are the most popular (they represent nearly half of all mortgages) because they let you budget your monthly payments precisely while protecting you from potential increases.

More information on variable rates

Variable rates are attractive because they are often lower than fixed rates. However, they fluctuate with the market, which can work in your favour—or against you—if rates rise overnight.

Let’s Talk About Your Project

Fill out this quick form and a member of Équipe Caron will reach out to discuss your mortgage needs.