Mortgage Payment & Net Income Impact Calculator
See a monthly mortgage payment, stress-tested at today's qualifying rate, as a share of your after-tax employee or self-employed income.
Monthly mortgage payment
$1,535
Income remaining after mortgage payment$3,465
Total interest over term$210,566
Total cost of mortgage$460,566
What a mortgage payment really costs against your take-home pay
A mortgage payment quoted against your gross income can look manageable while quietly eating a much bigger share of what you actually take home after tax, CPP and, if you're self-employed, GST/HST set-asides, especially with today's stress-tested qualifying rates.
What this calculator shows
- Your monthly mortgage payment at current rates and amortization, calculated the standard way
- That same payment expressed as a share of your real after-tax income from our salary or self-employed calculators, not gross income
- A buffer note for self-employed and contract income, where monthly cash flow is naturally less predictable than a T4 salary
