Mortgage Calculator

Check it out!!  Now you can calculate your mortgage with the lowest mortgage rates in the country!  

We think it's the Best Damn Mortgage Calculator around! With over 2 Million interactions since 2015!   

How does it work?  Simple.  This baby will take your purchase price - help you identify your down payment amount - AND, it will even calculate your potential Mortgage Insurance Fee.  

What's Mortgage Insurance??  Click on the link or right <Here> to find out!  You probably need it - but maybe not.  Doesn't hurt to know about it though.

And hey...if you want to see a more detailed picture with the FULL Amortization...click <HERE>!

Cheers!!

REMINDERS:  

As of October 17, 2016 all Insured Mortgages must Qualify at the Canadian Benchmark.

As of October 2025 - Down Payment rules have changed for PURCHASE over $500,000.00 up to $1,500,000.00

Regarding purchases over $500,000.00, the new rules require a minimum Down Payment of 5% on the first $500,000.00 and then 10% on the Balance with a MAXIMUM PURCHASE PRICE OF $1,500,000.00.  

Did you catch that?  It's not a $1,500,000.00 Mortgage figure - it's a $1,500,000.00 PURCHASE PRICE.  I know, I know - this sounds stupid - and it is!  We have plenty of clients who can't access the lowest mortgage rates and products because of this stupid rule - but hey, it's better than what it used to be.  Hopefully we'll see improvements in the near future.  

For example - if you purchase a home for $600,000.00 - you would have to put down $25,000.00 for the first $500,000.00 and then an additional $10,000.00 for the extra $100,000.00 you are borrowing...this equates to $35,000.00.  

Under the old rules of a straight 5% Down Payment requirement - the total Down Payment required would have been $30,000.00 - so this new requirement is going to sting a few.

Don't worry about trying to do the math on your own...our calculator will be able to do it for you!

With respect to the Canadian Benchmark criteria - this does not mean your rate will be set at the Benchmark rate, rather your affordability must be calculated against it rather than the actual rate you will pay.

This effort has been put forward to help cool the Red Hot Canadian Housing Market.  You can write your Thank You letters to our Minister of Finance and our Prime Minister.

Mortgage Calculator Guide

Focus Mortgage Solutions' mortgage calculator helps determine your total monthly mortgage payment! Stop guessing and make your home ownership dreams come true today! The payment amount is based on the value/purchase price of your home. The calculator will display the standard values for mortgage insurance if applicable in order to take the guessing game out of any other third party fees associated with your mortgage.  If you haven't had a chance to get familiar with what mortgage insurance is, click here and have a look!

DOWN PAYMENT | Regina mortage calculator

This is the amount of money you will put down for your down payment on the property. Your deposit makes up part of the total down payment. Focus Mortgage Solutions advises you make sure you still have funds left over after the down payment to cover Legal Fees, and any unexpected repairs or financial emergencies. Buying a house is an investment, don't start until you're truly prepared.

INTEREST RATE

This is the interest rate for the loan you will receive. It is pre-filled with a standard 2.89% based on credit...but mortgage rates change as often as you change your socks so don't panic if the rate is different from what is pre-populated.  Rest Assured though - FOCUS Mortgage has the lowest mortgage rates available!

AMORTIZATION

The paying off of mortgage debt with a fixed repayment schedule in regular installments over a period of time.  Think of it as the LIFE of the mortgage...it doesn't always take 25 years to pay off a mortgage...but hey, just in case it does - we can give it a 25 year life - in fact - we can even do 30 and even 35 years in some cases.  The longer we amortize your mortgage, the lower your mortgage payment will be.  That said, we don't encourage you to extend over 25 years because it also means you'll pay more total interest and for a longer period of time.  

TERM

The length of your loan (in years)...think of it like a short term marriage to your lender.  

Regina MORTGAGE INSURANCE (PMI)

Mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price. It protects lenders any losses if you were to default on your loan. 

Saskatchewan Mortgage Insurance Information | Regina Mortage Calcultaor 

Here in the Great White North, there are 3 different Mortgage Insurance Providers. Which are CMHC, SAGEN (formerly Genworth Financial) and Canada Guaranty. Oddly their services are nearly identical with a few wavering differences in plans, but they all do the same thing... They protect YOUR lender's money.

The question we always get asked is 'Do I need it?', 'How do I pay for it?' and 'Is it negotiable?' Well here is the breakdown.

Do you need it? - If you have a down payment of less than 20%...then you need it.  If you have a down payment of 20% or larger...you may not need it...even if you have 25% to put down...you still may need it.

How do I pay for it? - Good News - the lender adds the insurance cost to your mortgage and they pay it directly to the Mortgage Insurer.

Is it negotiable? - No.  Mortgage Insurance is non-negotiable.  It is set up on a sliding scale based on the size of your down payment and/or the product you require.

To learn more about Mortgage Insurance, we welcome and encourage you to visit this CMHC link.

For example...let's say you buy a house for $100,000.00 and you have $5,000.00 for a down payment.  That would put you in the 4.00% Mortgage Insurance Premium box. The LTV (Loan to Value) falls in the "Up to and including 95% category"...that means you are borrowing 95% of the amount needed to buy your house.  

The other figures you see apply to purchases with up to 20% total down payment.  When it comes to a refinance - there is no mortgage insurance available unfortunately.  Lenders then have to take all the risk and by doing so they bump up their rates a bit to offset the risk...we call these Conventional Mortgages.  But don't sweat the small stuff - we'll keep things as easy and stress free as possible. 

Fun Facts about Regina Mortages. 

 

Fun fact about Energy Efficient Homes - You can get up to 10% of your Mortgage Insurance Premium back in your pocket if your home qualifies!!

Another Fun fact - Our Mortgage Calculator already takes in to account your potential Mortgage Insurance Premium!  Hurry - go check it out.  We're pretty proud of it!

What if I'm self employed?  Can I qualify for Mortgage Insurance with a small down payment? Don't worry...you are not out of luck.  Self employed professionals can still get a mortgage...the process can be a bit hairy, but it can be done! Even if you declare a lower income than you actually make - we can still make it happen in most cases!  We have 2 awesome programs available to you to maximize your benefit.  We can either move forward with your proven income (using Line 150 on your tax returns over a 2 year average or most recent tax year if the most recent year is less than the previous - OR - we can use a "Stated Income" product that recognizes things like capital costs and other expenses that cut in to your actual earnings thus forcing you to declare a lower income amount than you actually make.  Seems a bit funky doesn't it?  Well - you can thank the good folks at CMHC, Sagen and Canada Guaranty for creating this product.  It's a beauty and a lot of people have had the pleasure of benefitting from it.

Take for example an Owner/Operator Truck Driver. This individual accumulates a ton of expenses.  Everything from Fuel to Food.  At the end of the day, this persons income could go from $125,000.00/year in earnings down to $41,000.00 after expenses.  And that $41,000.00 is what ends up being declared on Line 150 for Income Tax.

This person's true income is $125,000.00/year and it's reasonable so we can "state" this income...or something close to it.  We might only need to state $80,000.00.  We will make sure the amount necessary fits insurer and lender guidelines in order to maximize your benefit while maintaining you receive the lowest mortgage rate possible. 

In order for you to qualify for this product, the applicant must have:

1.  A Credit Score of NO LESS than 650 on Equifax.

2.  A Down Payment of NO LESS than 5% (sometimes 10% depending on the product and insurer) - and it can only come from applicants Savings or Investments.  Sorry, no gifts from family and it can't be borrowed either.  You will have to show a minimum of 90 Days of accrued Savings/Investments.

3.  Industry experience of NO LESS than 1 Year, sometimes 2 Years depending on the product and insurer.  So if you own your own welding company...we want to see you have at least 1 year and preferably 2 years of self employment in this industry or at minimum 6 months Self Employed History with the 2 years of industry experience from your previous employer.  

It's not a "cut and dried" product - and lenders love to request a lot of documenation.  Be prepared to provide 2 Years of Most Recent Income Tax, including the T1 General and the Notice of Assessment (NOA) and proof of No Income Tax Owing.  

If you do owe Income Tax...it MUST be paid in full prior to receiving your new mortgage.

The extra good news is that you can still enjoy the lowest mortage rates as everyone else!  We don't penalize you with a higher rate.

Personal Care and Ethical Lending Pratices | Focus Mortage Soltuions Regina, SK

Creating rapport with our clients is very important to us at Focus Mortgage Solutions. We still wholeheartedly believe in the integrity of a hand shake and the gravity of an oath.  Our word is our bond.  We have grown our business because of our dedication to exceptional customer relationships ad top-notch Mortgage Broker services while providing the lowest mortgage rates available.  

Thank you for using Focus's Regina, SK Mortgage Calculator.

Focus Mortgage Solutions is here to help you with your mortgage in Regina, SK.