Down payment

The minimum down payment depends on the home purchase price.

• $500,000 or less: 5%
• $500,000 to $1.5 M: 5% on the first $500,000 and 10% on the remaining amount
• $1.5 M or more: 20%

If the down payment is less than 20% of the purchase price, the mortgage must be insured by CMHC or Sagen™. The result displayed in our tool does not include the cost of this type of loan insurance.

Amortization

The amortization period is the length of time it takes to pay off your mortgage in full. The standard period is usually 25 years but may be up to 30 years under certain conditions. If you’re considering an amortization period longer than 25 years, contact a mortgage advisor to discuss your eligibility and how this option could impact your finances.

Payment frequency

With an accelerated frequency, you pay off your mortgage quicker and pay less interest overall. For example, Every 2 weeks – accelerated allows you to make the equivalent of 1 extra monthly payment each year.

Mortgage payment calculator

The mortgage payment calculator helps you plan to buy a property. The tool is for residential properties only. Desjardins is not legally responsible for results generated by the tool.

Note that payment amounts are only estimates. They are based on the data you enter and may change depending on your financial situation and budget at the time you take out the loan. Contact your mortgage advisor for personalized advice, to get pre-approved or for financing. Financing is subject to credit approval.

The calculator helps you estimate a mortgage payment amount before you apply for the loan. Certain conditions apply. Calculations assume that the interest rate:

• Is the lowest fixed promotional mortgage rate available on the Mortgages page.
• Remains the same throughout the amortization period
• Is not guaranteed and may change without notice

The result our tool generates does not include mortgage, life or disability insurance costs.