Canadian mortgage calculator
Exact payments using semi-annual compounding — the method actually required for Canadian fixed-rate mortgages — with the CMHC premium added automatically when your down payment is under 20%.
Legal minimum for this price: 25 000 $ (10.0% entered)
Your payment
2 568 $/ monthly
- Mortgage amount
- 463 950 $
- CMHC premium
- 13 950 $
- Total interest
- 306 401 $
With a down payment under 20%, mortgage default insurance (CMHC) is mandatory. The premium of 13 950 $ is added to your mortgage. In Québec, provincial sales tax on this premium is payable at closing.
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | 10 339 $ | 20 475 $ | 453 611 $ |
| 2 | 10 809 $ | 20 005 $ | 442 802 $ |
| 3 | 11 301 $ | 19 513 $ | 431 500 $ |
| 4 | 11 816 $ | 18 998 $ | 419 685 $ |
| 5 | 12 353 $ | 18 461 $ | 407 331 $ |
| 6 | 12 915 $ | 17 899 $ | 394 416 $ |
| 7 | 13 503 $ | 17 311 $ | 380 912 $ |
| 8 | 14 118 $ | 16 696 $ | 366 795 $ |
| 9 | 14 760 $ | 16 054 $ | 352 035 $ |
| 10 | 15 432 $ | 15 382 $ | 336 603 $ |
| 11 | 16 134 $ | 14 680 $ | 320 469 $ |
| 12 | 16 868 $ | 13 946 $ | 303 600 $ |
| 13 | 17 636 $ | 13 178 $ | 285 965 $ |
| 14 | 18 438 $ | 12 376 $ | 267 526 $ |
| 15 | 19 278 $ | 11 537 $ | 248 249 $ |
| 16 | 20 155 $ | 10 659 $ | 228 094 $ |
| 17 | 21 072 $ | 9 742 $ | 207 022 $ |
| 18 | 22 031 $ | 8 783 $ | 184 991 $ |
| 19 | 23 033 $ | 7 781 $ | 161 958 $ |
| 20 | 24 082 $ | 6 733 $ | 137 876 $ |
| 21 | 25 177 $ | 5 637 $ | 112 699 $ |
| 22 | 26 323 $ | 4 491 $ | 86 376 $ |
| 23 | 27 521 $ | 3 293 $ | 58 855 $ |
| 24 | 28 773 $ | 2 041 $ | 30 081 $ |
| 25 | 30 081 $ | 731 $ | 0 $ |
Why this calculator is accurate
Canadian fixed-rate mortgages are compounded semi-annually, not monthly. Many online calculators use monthly compounding and underestimate your real payment. This tool applies the exact Canadian formula, adds the CMHC premium automatically based on your down payment tier (4.00% / 3.10% / 2.80%), and supports accelerated payment frequencies that can save you years of interest.
Results are estimates for information purposes only and do not constitute a mortgage pre-approval or financial advice. Rates and conditions vary by lender.