§ Calculator · Housing
Interest-only mortgage qualifier
What this is
Maximum interest-only mortgage your monthly budget supports.
Used to size HELOCs or interest-only investor mortgages. Principal stays constant; monthly cost is principal × annual rate ÷ 12.
Max interest-only principal
$406,780
Yearly interest cost
$26,400
Lenders qualifying you on interest-only loans usually still stress-test with an amortizing-equivalent payment at higher rate.
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.