Use This Calculator To Estimate Your Variable Mortgage Trigger Rate
Please note that this is an estimation only and is based on a simplified calculation with annual compounding and a 30 year amortization period. Please contact your lender to find out what your actual trigger rate is.
When Do Variable Rates Change?
The variable rate is directly related to your lender’s prime rate, which changes with the target rate set by the Bank of Canada, less a mortgage discount that you might be offered. Note that the prime rate can vary from lender to lender. Click here to find out what your current prime rate.
What Is A Trigger Rate?
When you get a variable mortgage, your monthly payments are based on your starting variable rate. Your monthly payments may stay the same even as variable rates go up. Once the variable rate goes higher than the “trigger rate”, your monthly payments will start to go up.
How Do I Get My Trigger Rate?
Your trigger rate is based on a number of things, including your starting variable rate (starting prime rate less a mortgage discount), your mortgage amortization period, and the number of payments you’ve made. Use our calculator above to estimate your trigger rate.
What Toronto Real Estate Investment Is Right For You?
Check out our complete Toronto real estate investment guide for all the details and real-life examples. If you’re ready to dive in, just book a call with us!
What Do Our Clients Say?
Reena S.April 23, 2025.I had a 30-minute consultation call with Samantha, and I’m so glad I reached out. We’re looking to purchase a property in Toronto with the goal of generating income and long-term appreciation, and Samantha really understood the financial and strategic sides of that equation. She’s incredibly honest, knowledgeable, and clearly experienced when it comes to working with investors. I walked away with valuable insights that will definitely shape our next steps. Highly recommend!L F-HApril 21, 2025.Phil helped me with both a sale and a purchase and he was great with both! I was particularly impressed with his knowledge of the market, his good rapport with other agents (as well as potential buyers/sellers), and with his friendliness and accessibility to me during the whole process.Carlos GoulartApril 21, 2025.Dave was really helpful. He took his time to show me the property wich now my family and I call home. Really attentive during the showing and also with all the requests for be able to rent the unit. Will recommend Dave anytime!! 👌Effie BruntonApril 21, 2025.Working with Laryssa from Elevate was an incredible experience from start to finish. As first-time investment property buyers, we had a lot of questions—and Laryssa was there every step of the way with answers, guidance, and genuine support. She really listened to our needs and respected our budget, while helping us stay focused on our goals. Laryssa’s knowledge of the area was spot-on, and because she’s also an investor herself, she gave us real, practical advice that made a huge difference. She helped us understand what to look for in a solid income property, walked us through renovation budgets, and shared so much of her own experience to make sure we were making smart decisions. One thing we especially appreciated was that she was always available to answer any questions we had—no matter how silly we thought they were. She never made us feel anything but supported and informed, which gave us a lot of confidence as we navigated this new process. We’re so grateful to have had her in our corner and can confidently say we wouldn’t have found this property without her. If you’re looking for someone who truly cares, is incredibly knowledgeable, and brings a personal touch to the process, Laryssa and the Elevate team are who you want by your side. Highly recommend!DGustavo SanzApril 16, 2025.I appreciate the pretty good attention and all the support that Karina and Kate offered to me. thank you so much.Shing LeungApril 7, 2025.Spiro from Elevate helped me purchase my first rental property and the experience has been seamless and highly educational. He and the rest of the Elevate team do a fantastic job of demystifying the whole process and making it accessible to new investors. As an agent, Spiro is very professional and generous--never hesitating in sharing his time, real estate know-how, and his valuable network of contacts. The fact that he and the whole Elevate team are investors add a ton of credibility to their offerings. In a space that's normally driven by sensationalism and hype, Spiro's measured and practical approach is a breath of fresh air.
