Mortgage Stress Test Calculator
Calculate quickly and accurately with our free mortgage stress test calculator.
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Guide & Information
Overview / Aperçu
Canadian financial planning involves understanding interest rates, investment accounts, and tax-advantaged savings. The Mortgage Stress Test Calculator helps with financial decisions in Canada / Canada.
💡 Tips
- •Bank of Canada sets the overnight rate affecting all lending
- •RRSP contributions reduce current year taxable income
- •TFSA allows tax-free growth and withdrawals
- •Consider mortgage vs investment opportunity costs
Why Use This Calculator / Pourquoi utiliser cette calculatrice
Financial planning is crucial for retirement security, major purchases, and building wealth while taking advantage of Canadian tax-sheltered accounts.
Regulations: Follows Bank of Canada regulations.
- • Loan amount: $100,000
- • Interest rates vary by institution
- • Terms typically range from 12-360 months
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Frequently Asked Questions
How do Canadian interest rates work? / Comment fonctionnent les taux d'intérêt canadiens ?
Canadian financial calculations use Bank of Canada overnight rate as reference. Mortgage rates, loans, and savings accounts are influenced by this benchmark. / Les calculs financiers canadiens utilisent le taux directeur de la Banque du Canada comme référence. Les taux hypothécaires, prêts et comptes d'épargne sont influencés par ce repère.
What about RRSP and TFSA contributions? / Qu'en est-il des cotisations REER et CELI ?
RRSP contributions are tax-deductible with annual limits (18% of income, max $31,560 in 2024). TFSA contributions ($7,000 limit in 2024) grow tax-free. / Les cotisations REER sont déductibles d'impôt avec des limites annuelles (18% du revenu, max 31 560$ en 2024). Les cotisations CELI (limite de 7 000$ en 2024) croissent libres d'impôt.