All dollar values have been rounded.
The calculation is based on the accuracy and completeness of the data you have entered, is for illustrative
and general information purposes only, and is not intended to provide specific financial or other advice, and
should not be relied upon in that regard.
This calculation assumes a constant interest rate throughout the amortization period and the Total Interest Cost
is averaged over the life of the mortgage rounded to the nearest dollar. Interest rate compounded half-yearly,
not in advance. The mortgage payment amount may vary according to certain variables entered in to the calculator
and may not provide the precise dollar amount of your payment. It will give you a general idea of the payment
amount based upon the information you have entered. The accelerated bi-weekly payment is equivalent to the
monthly payment divided by two and the accelerated weekly payment is equivalent to the monthly payment divided
Royal Bank of Canada uses reasonable efforts to include accurate and up-to-date information in this calculator,
but cannot guarantee that all information is accurate, complete or current at all times. You should speak with
one of our credit specialists before making a final decision on a mortgage to ensure it meets your overall
Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information
or results in connection with the calculator. Royal Bank of Canada will not be liable for any losses or damages
arising from any errors or omissions in any information or results, or any action or decision made by you in
reliance on any information or results.
Applicable to residential mortgages only and subject to Royal Bank of Canada standard lending criteria for residential
mortgages. Some conditions apply.
In order to be approved for a mortgage, you will need at least 5% of the purchase price as a down payment if
your purchase price is within $500,000. If your purchase price is between $500,000 and $1,000,000, your minimum
down payment is 5% of the first $500,000 and 10% of the price between $500,000 and $1,000,000. If your purchase
price is $1,000,000 or more, your minimum down payment is 20%.