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What every US mortgage calculator gets wrong
Canadian mortgages compound semi-annually by law (Interest Act, 1985).
Every popular US mortgage site — and most generic "Canadian" calculators — uses monthly compounding.
On a $600,000 mortgage at 6.09% over 25 years, that's a $28/month error, or over
$8,300 paid to the wrong calculation over the amortization.
Budget Beavers uses (1 + rate/2)1/6 - 1 for the effective monthly rate.
Every time.
All calculators, by topic
House & Mortgage 4
Explore the full House & Mortgage hub →- Mortgage Calculator (Canada)mortgageSemi-annual compounding, CMHC insurance, stress test, amortization schedule.📈$3,871 / monthOn $600k · 6.09% · 25yrOpen calculator →
- Rent vs Buy (Canada)comparisonBreak-even years, opportunity cost of down payment, closing costs — all Canada-specific.🏠↔️🏢Break-even: yr 7.3After that, buying winsOpen calculator →
- Salary Required for MortgagemortgageReverse mortgage calculator: given THIS listing price, what income do you need to qualify? Stress test, GDS/TDS diagnosis, lever simulator.🎯$166k income neededTo qualify for $750k home at 6.09%Open calculator →
- Land Transfer Tax Calculator (Canada)mortgageAll provinces + Toronto/Montreal municipal tax. Cash-to-close command centre: total cash needed on closing day.📋$8,475 closingON $750k · after FTHB rebateOpen calculator →
FIRE & Retirement 6
Explore the full FIRE & Retirement hub →- Dream FIRE — Financial Independence Explorerretirement3 inputs → FIRE number, freedom year, 55-year fan chart across 3 scenarios. The emotional landing page before the calculator.🔥FIRE # = $1.2MOn $42k/yr · 3-scenario fan · Geo-Arb saves $360kOpen calculator →
- FIRE Calculator (Early Retirement)retirementCoast FIRE check, years to FIRE, location arbitrage, taper income, scenario fan — built for retiring at 45–60.🏕️Coast FIRE at 47Your $580k grows to target — no more contributions neededOpen calculator →
- FIRE Advanced ToolkitretirementMonte Carlo risk simulation, CPP/OAS timing optimizer, RRSP/TFSA drawdown strategy, and geo-arb budget planner.🎲91% success rate1,000 simulations · CPP at 70 breaks even at age 74Open calculator →
- FIRE Location ExplorerretirementCompare cost of living, happiness, safety & healthcare across 56 global cities on an interactive world map — find where your FIRE number goes furthest.
- Retirement ProjectionretirementCPP + OAS included, RRSP withdrawal phasing, target retirement age, runway to 95.☀️Lasts to age 82CPP + OAS: $1,630/mo safety floorOpen calculator →
- FIRE City ComparisonretirementCompare up to 5 cities side by side — cost breakdown, quality-of-life radar, climate calendar, and how each one changes your FIRE timeline.
Investing 5
Explore the full Investing hub →- TFSA vs RRSPinvestingAt your marginal rate, which account wins — and by how much over 30 years.📊RRSP wins by $41kAt 43% bracket → 26% retirementOpen calculator →
- Compound Interest / Investment ProjectioninvestingMonthly contributions, inflation toggle, multiple scenarios overlaid on one chart.🚀$200/mo → $228kIn 30yr at 7% — growth overtakes you in yr 17Open calculator →
- ETF / Index Fund ComparisoninvestingLifetime MER fee-drag odometer: see the $214,000 that quietly disappears into mutual fund fees over 30 years.⚡$201k differenceVEQT vs bank mutual fund over 30yrOpen calculator →
- CAGR Calculatorinvesting4 modes: find CAGR, end value, years, or start value. Works on any growth series.📐7.18% CAGR$10k → $20k in 10yr · money doubles in 10yrOpen calculator →
- Couch Potato RebalancerinvestingEnter current holdings + target allocation, get exact buy/sell trades to rebalance.🥔+$2,250 bondsYour VEQT+ZAG portfolio is 4% off targetOpen calculator →
Car & Auto 8
Explore the full Car & Auto hub →- True Cost of Your CardebtDepreciation + insurance + fuel + maintenance — the real monthly cost dealers never show. See the gap between your payment and your true cost.💸$1,802 / monthYou budgeted $544 — here's the real numberOpen calculator →
- Car Financing vs Lease vs CashdebtTrue cost comparison including depreciation, financing charges, and opportunity cost.🚗Finance saves $3.2kvs leasing the same car over 5yrOpen calculator →
- EV vs Gas Calculator (Canada)comparisonEVAP rebates + all provincial rebates, housing type (condo charging problem), break-even year chart. Canada-first EV calculator.⚡🚗EV saves $4,200/yrIn BC house. In ON condo → saves $0.Open calculator →
- Lease Buyout Decision TooldebtShould you buy out your leased car, return + lease new, or return + buy used? Three-path comparison with equity check and chart.
- Underwater Car Loan TimelinedebtAm I underwater on my car loan? Break-even month, negative equity rollover cost, and the full balance vs value chart.📉Break-even: Month 22You're $8k underwater — here's when you surfaceOpen calculator →
- Fix or Scrap CalculatordebtShould you pay for the repair or cut your losses? Compare 3-year costs side by side with the 50% rule built in.🔧Fix: saves $8,400$2,500 repair on $8k car — worth it?Open calculator →
- Dealer Fee DecoderdebtWhich car dealer fees are mandatory, which are optional, and the exact script to say in the F&I room. Decode your purchase order.
- Mechanic Quote BenchmarkerdebtIs this repair quote reasonable or are you being overcharged? Compare any quote to typical Canadian costs across all provinces.
Budget & Taxes 8
Explore the full Budget & Taxes hub →- Smart Budget ImportercashflowDrop a CSV bank statement (or paste it) → instant categorized budget with weekly→yearly projections. No bank login, runs in your browser.📂Budget in 3 minutesDrop CSV → top-5 categories + weekly→yearly projectionsOpen calculator →
- Canadian Income Tax CalculatortaxFederal + all provinces, TFSA/RRSP impact, marginal vs effective rate, CPP & EI.🧾29.65% marginalON, $85k income — your real rateOpen calculator →
- Budget & Monthly Surplus Routercashflow50/30/20 rule (or HCOL 60/20/20), visual donut breakdown, and a waterfall that gives every leftover dollar a destination.💸$840 surplus/monthRoute it: Emergency → TFSA → InvestOpen calculator →
- Net Worth TrackercashflowTotal assets vs liabilities, liquid net worth, StatCan age-group benchmark, pre-filled from your other calculators.📊$187k net worthTop 40% for Canadians your ageOpen calculator →
- Capital Gains Tax Calculator (Canada)taxConfirmed 50% inclusion rate — the proposed 66.67% hike was cancelled March 2025. ACB, principal residence, partial PRE.💰$12,250 taxOn $50k gain — stays 50% inclusion ✓Open calculator →
- Emergency Fund CalculatorcashflowSize your safety net — months of expenses, what counts, where to keep it.🛟8 months to goalAt $500/mo → $18,000 target fundedOpen calculator →
- RESP & CESG Calculator (Canada)investingSee how much free government grant money your RESP contributions attract, year by year, up to the $7,200 lifetime CESG cap.
- Debt Payoff PlannercashflowAvalanche vs snowball across up to 3 debts — which to attack first, and what each strategy costs you.
About Budget Beavers
Budget Beavers is a collection of Canadian personal-finance calculators built to get the math right — specifically the math that generic US-centric tools get wrong. Semi-annual mortgage compounding, provincial tax layering (including Ontario's surtax and Quebec's abatement), the OSFI stress test, CMHC insurance tiers, and correct TFSA/RRSP/FHSA contribution rules are all handled accurately.
Every calculator includes a "How is this calculated?" breakdown so you can verify the formula. Tax brackets cite their effective year. Mortgage calculations reference the federal Interest Act. When a regulatory rule changes, the data file is versioned and the change is logged.
Privacy: every calculation runs entirely in your browser. No input data is sent to a server, stored in a database, or shared with third parties. Your financial numbers stay on your device.
Not financial advice. These calculators are educational tools for planning purposes. Consult a qualified financial planner, mortgage broker, or tax professional before making major financial decisions.
Frequently asked questions
Are these calculators accurate for Canada?
Yes. Every calculator uses Canadian-specific rules: semi-annual mortgage compounding (Interest Act), CRA 2025 tax brackets (including the Bill C-4 blended 14.5% first bracket), CMHC insurance, the OSFI stress test, and current TFSA/RRSP/FHSA contribution limits. US calculators typically use monthly compounding and US tax rules — Budget Beavers does not.
Is my data safe? Do you store my inputs?
All calculations happen entirely in your browser. No input data is ever sent to a server, stored in a database, or shared with third parties. Your financial numbers stay on your device.
What is the difference between Canadian and US mortgage calculators?
Canadian mortgages by law (Interest Act) compound semi-annually, not monthly. Using the wrong compounding overstates your payment. On a $600,000 mortgage at 6.09% over 25 years, the difference is roughly $28/month — over $8,300 over the life of the loan. Budget Beavers uses the correct semi-annual formula.
How often are the tax brackets updated?
CRA adjusts brackets and limits each November for the following year. The current data uses 2025 brackets including the Bill C-4 blended federal rate of 14.5% for the first bracket. Each calculator shows its data date. We update annually.