Variable Mortgage Trigger Rate Calculator

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?

Xavier Grunauer

December 2, 2023.

Kate helped us find new tenants for our house. She listened to our hopes and concerns & then she delivered new tenants as requested.

Reid Millar

November 19, 2023.

Great experience! Very good communication and timely follow through!

Amy C

November 17, 2023.

I recently had the pleasure of working with Spiro who helped guide me through both the purchase and leasing processes. He seamlessly transition from helping me find the perfect property to facilitating the leasing arrangements was truly commendable. During the purchase phase, he demonstrated his understanding of the market to identify properties that aligned with my preferences and budget. His negotiation and relationship skills ensured a fair deal and the buying process was efficient.

Valentin Alen

November 16, 2023.

We are incredibly grateful for Kate's exceptional support at Elevate Realty. As newcomers in Toronto, we were initially anxious about the real estate process, but she made it all work out seamlessly. She was a pleasure to work with. Kate took the time to fully understand our needs and what we were looking for and did an amazing and very proactive job at finding the perfect property. Communication was great - she was very responsive and transparent. Would definitely recommend working with her.

Michael Iannuzziello

November 11, 2023.

It was a pleasure to work with Nick and Spiro!! They were extremely helpful throughout the whole process and were always available to answer our questions. They were committed to maximizing the value of our property and always put our needs first. They are both extremely knowledgeable and professional and we highly recommend Nick and Spiro to anyone looking to buy, sell or invest.

Joachim Tan

November 10, 2023.

We had purchased a rental property through Elevate which we were happy with, and decided to also use their tenant placement service. Kate was fantastic to work with as she was very experienced and pleasant. We would use them again in the future without hesitation.

TED J

November 6, 2023.

Billy/Elevate Realty guided every single step of me purchasing my first house. It was wonderful doing business with him.

Jack Carver

October 27, 2023.

I worked with Laryssa as I was interested in a unit she was representing and found her to be compassionate, helpful, and informative about the process. I ultimately didn’t go with the unit but through the process I felt valued as a prospective tenant and appreciated her efforts to improve my application. Highly recommended!

Eileen Li

October 27, 2023.

We bought our first investment property with Spiro. Spiro, Simon and the entire Elevate team are amazing. Spiro is friendly, professional and resourceful, and offered lots of tips and advises during and post purchase. Elevate made the whole process less daunting than we anticipated and connected me with a whole network of quality trades and professionals. I highly recommend Spiro and the Elevate team if you are looking to invest in Toronto freehold real estate.

Danielle Dang

October 25, 2023.

Simon and team are top notch. Professional, responsive, provide custom-tailored services, and generate results. Very positive experience. Highly recommend.