Financial Calculators
Retirement Income Calculator
- Retirement planning is important because it can help you avoid running out of money in retirement.
- With a little retirement planning, you have the power to make your dreams come true while maintaining your financial independence.
- The calculator’s results are rough estimates and are based on the information that you provided. The results should not be considered financial advice. The calculator does not collect information that would enable personal identification.
Savings Goal Calculator
- Saving enough money for the future starts with a plan.
- Whether your goal is the purchase of a new car, saving for a down payment or saving for your wedding, to name a few.
- Putting money aside little by little can help you achieve your savings goals.
- Use this tool to start working toward your savings goal.
Compound Interest Calculator
- Someone once stated that mankind’s greatest invention was, “compound interest.”
- Compound interest can be thought of as “interest on interest,” and will make a sum grow at a faster rate than simple interest, which is calculated only on the principal amount.
- This calculator will show the growth of an investment at various compounding frequencies.
Mortgage Calculator
Using a mortgage payment calculator lets you understand how much you’ll need to pay each month for any size of mortgage, at any rate. This means you can compare homes and mortgage products with confidence, all the while knowing if you are able to afford them.
Click here to learn about how to use the Mortgage Calculator >
Mortgage Qualifier Tool
- This calculator helps you determine whether you can qualify for a home mortgage based on income and expenses.
- To qualify for a mortgage loan at a bank, you will need to pass a “stress test”.
- You will need to prove you can afford payments at a qualifying interest rate which is typically higher than the actual rate in your mortgage contract.
- The current mortgage stress test interest rate is 5.25%.
- You need to pass this stress test even if you don’t need mortgage loan insurance (CMHC).