CalcHomeRate calculators provide estimates for informational and illustrative purposes only. Results are not financial, legal, investment, or mortgage advice, and do not constitute a mortgage pre-approval, pre-qualification, or commitment to lend.
Actual mortgage payments, qualifying amounts, insurance premiums, interest rates, and total costs will differ from calculator outputs based on your specific credit profile, lender's underwriting criteria, current market rates at the time of application, and other factors. Rates displayed in the calculators are representative examples only and are not live, guaranteed, or locked.
Always consult a licensed mortgage broker, lender, or financial adviser before making any home purchase, refinancing, or financial decision. Past rates are not indicative of future rates. Qualifying rules may change without notice.
1. Acceptance of terms
By accessing or using calchomerate.com (the "Site") and the mortgage calculation tools available on it (the "Service"), you agree to be bound by these Terms of Use ("Terms") and our Privacy Policy, which is incorporated by reference. If you do not agree to these Terms, do not use the Site.
These Terms apply to all visitors, users, and others who access or use the Service. We reserve the right to update these Terms at any time, as described in Section 13.
2. Description of the service
CalcHomeRate provides four free browser-based mortgage calculators for users in the United States and Canada:
- Affordability Calculator — estimates maximum home purchase price based on income, debt, down payment, and qualifying ratios
- Mortgage Payment Calculator — calculates estimated periodic mortgage payments and generates an amortization schedule
- Refinance Calculator — estimates potential savings, break-even period, and lifetime interest reduction from refinancing
- Rent vs Buy Calculator — models long-term net worth under renting and buying scenarios over a user-selected horizon
All calculations are performed client-side in your web browser. No financial data you enter is transmitted to or stored by CalcHomeRate. The Service is provided free of charge and is supported by advertising.
3. Financial disclaimer and calculations
For informational purposes only
The output of all CalcHomeRate calculators is provided for general informational and illustrative purposes only. Calculator results are estimates based on the inputs you provide and the mathematical formulas programmed into the tools. They are not projections, guarantees, or representations of actual mortgage terms you will receive.
Canadian mortgage calculations
Canadian mortgage calculations use semi-annual compounding as required by Section 10 of the Interest Act (Canada). CMHC mortgage insurance premiums are calculated at rates published by Canada Mortgage and Housing Corporation (CMHC) and are subject to change without notice. The OSFI mortgage stress test qualifying rate is calculated at the greater of the contract rate plus 2% or 5.25%, in accordance with OSFI Guideline B-20. GDS and TDS ratio limits of 39% and 44% respectively reflect OSFI guidelines for federally regulated lenders. These rules are subject to change by OSFI, CMHC, or the Government of Canada at any time.
Important — Canada: Provincially regulated lenders (including some credit unions) may apply different qualifying rules than those used by this calculator. The minimum down payment thresholds and CMHC insurance requirements reflected in the calculator are based on federal rules and may not apply to all lenders or all property types.
US mortgage calculations
US mortgage calculations use monthly compounding (rate divided by 12), consistent with the convention used by Fannie Mae, Freddie Mac, and most US conventional lenders. DTI ratio limits of 28% (front-end) and 36% (back-end) are conventional lending guidelines and are not universal. FHA, VA, USDA, and jumbo loan products may have significantly different qualifying rules, insurance requirements, and rate structures not reflected in this calculator.
Important — USA: PMI (Private Mortgage Insurance) is estimated at 0.8% of the loan amount annually, which is a representative average. Actual PMI premiums vary based on your credit score, loan-to-value ratio, property type, and the PMI provider selected by your lender. They may be substantially higher or lower than this estimate.
4. Accuracy and rate information
While CalcHomeRate makes reasonable efforts to implement accurate mathematical formulas and use representative rate data, we make no warranty or representation that:
- Calculator outputs will match the quotes or payments offered by any specific lender
- Interest rates, CMHC premium tiers, stress test thresholds, or DTI limits displayed reflect current or future rates and rules
- The calculations are free from errors, bugs, or omissions
- Results are suitable for any particular financial decision
Rate data displayed in the "Live rates" banner is sourced from Freddie Mac (US) and the Bank of Canada (CA) and is updated periodically. These rates are provided for reference only and may not reflect rates available to you from any specific lender at any specific time. Rate data may be delayed, incomplete, or inaccurate.
If you discover a calculation error, please contact us at privacy@calchomerate.com and we will investigate promptly.
5. No professional relationship or advice
Use of the Service does not create any professional, advisory, fiduciary, or client relationship between you and CalcHomeRate. Nothing on the Site constitutes:
- Financial, investment, or wealth management advice
- Legal, tax, or accounting advice
- Mortgage, lending, or insurance advice
- A mortgage pre-approval, pre-qualification, or commitment to lend
- A recommendation to buy, sell, refinance, or rent any property
Before making any financial or real estate decision, you should consult with appropriately licensed professionals, including a licensed mortgage broker or agent, a real estate lawyer, a financial planner, and/or a licensed real estate agent, as applicable to your situation and jurisdiction.
6. Limitation of liability
To the maximum extent permitted by applicable law, CalcHomeRate and its operators, affiliates, employees, agents, licensors, and service providers shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, including but not limited to:
Loss of profits, revenue, data, business, or goodwill; costs of substitute services; financial losses arising from reliance on calculator outputs; decisions made regarding the purchase, sale, or refinancing of property; decisions made regarding renting vs buying; or any other commercial or economic loss, arising out of or in connection with your use of or inability to use the Service, however caused and whether based on contract, tort, negligence, strict liability, or otherwise.
In jurisdictions that do not allow the exclusion or limitation of incidental or consequential damages, our liability shall be limited to the maximum extent permitted by law.
CalcHomeRate's total aggregate liability to you for any claim arising out of or relating to these Terms or the Service shall not exceed the amount you paid to access the Service in the twelve months preceding the claim. Because the Service is provided free of charge, this amount is zero in most cases.
7. Disclaimer of warranties
The Service is provided on an "as is" and "as available" basis, without any warranties of any kind, either express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.
CalcHomeRate does not warrant that the Service will be uninterrupted, timely, secure, or error-free; that the results obtained from use of the Service will be accurate or reliable; that any errors in the Service will be corrected; or that the Service is free of viruses or other harmful components.
Some jurisdictions do not allow the disclaimer of implied warranties. In such jurisdictions, the foregoing disclaimers shall apply to the fullest extent permitted by applicable law.
8. Intellectual property
The Site and its content — including but not limited to the HTML source code, CSS styling, JavaScript calculation logic, design, layout, text, graphics, and the CalcHomeRate name and logo — are owned by CalcHomeRate and are protected by applicable copyright, trademark, and other intellectual property laws of Canada, the United States, and other jurisdictions.
You may view, display, and print pages from the Site for your own personal, non-commercial use. You may not:
- Copy, reproduce, republish, upload, post, transmit, or distribute any part of the Site without our prior written consent
- Scrape, crawl, or systematically extract data from the Site using automated tools
- Use the CalcHomeRate name, logo, or trademarks without our prior written permission
- Incorporate any part of the Site into another website or application without our prior written consent
- Modify, adapt, or create derivative works based on the Site's source code
Limited, non-exclusive permission is granted to share a link to calchomerate.com or any page on the Site, provided the link is not presented in a misleading or deceptive manner.
Open-source libraries used in the Service (including Chart.js) are licensed under their respective open-source licences and remain the property of their respective copyright holders.
9. Third-party links and advertising
The Site may display advertisements served by Google AdSense and may contain links to external websites, including lenders, mortgage brokers, and financial service providers. These advertisements and links are provided as a convenience and do not constitute our endorsement or recommendation of any advertiser, product, service, or website.
CalcHomeRate is not responsible for and has no control over the content, accuracy, legality, or privacy practices of any third-party website or advertiser. Your interactions with third-party advertisers, including payment and delivery of goods or services, and any other terms, conditions, warranties, or representations associated with such dealings, are solely between you and the advertiser or third party.
We are not responsible for any losses or damages of any kind incurred as a result of your interactions with advertisers or third-party websites accessible from the Site.
10. Acceptable use
You agree to use the Service only for lawful purposes and in accordance with these Terms. You agree not to:
- Use the Service in any way that violates applicable local, provincial, state, national, or international law or regulation
- Attempt to gain unauthorised access to any part of the Site, its servers, or any systems connected to the Site
- Transmit any unsolicited advertising or promotional material, or engage in any form of automated data collection, mining, or extraction from the Site
- Use any robot, spider, scraper, or other automated means to access the Site for any purpose without our express written permission
- Introduce viruses, trojans, worms, logic bombs, or other material that is malicious or technologically harmful
- Impersonate any person or entity or misrepresent your affiliation with any person or entity
- Use the Site in any manner that could damage, disable, overburden, or impair the Site's functionality
We reserve the right to terminate or restrict your access to the Service, without notice or liability, if we believe you are in violation of these Terms.
11. Service availability
CalcHomeRate provides the Service on a best-effort basis. We do not guarantee continuous, uninterrupted, or secure access to the Service. The Site may be temporarily unavailable due to maintenance, technical issues, hosting provider outages, or other circumstances beyond our control. We reserve the right to modify, suspend, or discontinue the Service — or any part of it — at any time, with or without notice, and without liability to you.
12. Governing law and jurisdiction
These Terms and any dispute or claim arising out of or in connection with them or their subject matter (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws applicable to the operators of CalcHomeRate, without regard to conflict-of-law principles.
Because CalcHomeRate serves users in both Canada and the United States, the following provisions apply:
- Canadian users: These Terms are subject to applicable federal and provincial laws of Canada. Nothing in these Terms affects your statutory rights as a consumer under applicable Canadian consumer protection legislation.
- US users: If you are a consumer located in the United States, nothing in these Terms limits your rights under applicable federal or state consumer protection laws.
Any legal action or proceeding related to the Service shall be brought exclusively in a court of competent jurisdiction, and you hereby consent to the personal jurisdiction of such courts.
Important note: These Terms of Use are provided as a general-purpose template and are not a substitute for legal advice specific to your jurisdiction and circumstances. CalcHomeRate recommends consulting a qualified lawyer if you have questions about legal obligations arising from your use of or operation of this Service.
13. Changes to these terms
We reserve the right to revise and update these Terms of Use at any time, at our sole discretion. All changes are effective immediately upon posting and apply to all access to and use of the Service thereafter. Your continued use of the Service following the posting of revised Terms means that you accept and agree to the changes.
The date at the top of this page indicates when the Terms were last revised. We encourage you to review the Terms periodically so you are aware of any changes.
14. Contact
Questions, comments, or requests regarding these Terms of Use should be addressed to:
CalcHomeRate
Website: calchomerate.com
Email: privacy@calchomerate.com
We will endeavour to respond to all inquiries within 30 business days.