Mortgage Payment Estimator

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Mortgage Calculator

The Mortgage Calculator is available in the Kijiji app for listings in the Real Estate – For Sale categories.

This tool helps prospective buyers estimate their potential monthly mortgage payments based on a property’s listed price and the financing details they choose.

How to Use the Mortgage Calculator

  1. Open a listing in a Real Estate – For Sale category in the Kijiji app.

  2. Locate the Mortgage Calculator section within the listing.

  3. Enter or adjust the following details:

    • Down payment amount

    • Interest rate

    • Amortization period (mortgage term)

  4. The calculator will automatically display an estimated monthly mortgage payment based on the information provided.

Mortgage Calculator

Default Calculator Settings

When first opened, the calculator uses the following default assumptions:

  • Interest Rate: 4.8%

  • Amortization Period: 25 years

  • Down Payment: 20%

You can modify any of these values to see how different financing scenarios may affect your estimated monthly payment.

How Mortgage Estimates Are Calculated

Mortgage payment estimates are based on:

  • The property’s listed price

  • The down payment amount entered

  • The selected interest rate

  • The selected amortization period

  • Applicable 2024 CMHC mortgage loan insurance rates

If your down payment is less than 20%, CMHC mortgage loan insurance may be required and will be included in the estimate.

Important Information

The Mortgage Calculator is provided for informational purposes only.

Estimated payments:

  • Are not a financing offer

  • Do not guarantee mortgage approval

  • Do not constitute financial advice

  • May differ from actual payments offered by a lender

CMHC premiums in Quebec, Ontario, and Saskatchewan are subject to applicable provincial sales taxes, which may affect the total mortgage amount.

For the most accurate mortgage information, we recommend speaking directly with a qualified mortgage professional or financial institution.

Key Takeaway

The Mortgage Calculator provides a quick way to estimate monthly mortgage payments while browsing properties on Kijiji. Adjusting the down payment, interest rate, and amortization period can help you better understand what a property may cost under different financing scenarios.