Canadian mortgage calculator
Canadian mortgage payment calculator
Calculate a Canadian mortgage payment, term interest, principal repaid, and an optional monthly ownership budget.
Private inputs · Transparent assumptions
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Mortgage payment
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- 01Facts
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Enter your values to see results.
How to use this result
Start with the decision, then inspect the assumptions.
A payment estimate is more useful when it separates the mortgage payment from the wider cost of owning the property. Enter the purchase price and down payment to estimate the principal, or treat the difference as the mortgage amount. Property taxes and condo fees appear separately so they do not distort the mortgage formula.
How the calculation works
The mortgage payment uses Canadian semi-annual compounding and the selected payment frequency. Term totals are generated payment by payment, so interest, principal, and the remaining balance reconcile.
For the full notation, rate conversion, rounding approach, and limitations, see the calculation methodology.
Worked Canadian example
Put the estimate in context
On a CA$650,000 purchase with CA$130,000 down, a 4.89% rate and 25-year amortization, the starting mortgage is CA$520,000 before any mortgage-insurance premium. A five-year term pays down only part of that principal; the result shows the balance that would typically be renewed.
Before relying on it
Common mistakes
- 01Treating the mortgage payment as the full monthly ownership cost.
- 02Subtracting a down payment but forgetting any financed mortgage-insurance premium.
- 03Confusing the five-year term with a five-year amortization.
- 04Comparing frequencies by payment size rather than payments per year.
Clear answers
Frequently asked questions
Why is a Canadian mortgage rate converted?
Most fixed mortgage rates are nominal annual rates compounded twice a year. The rate for each monthly, weekly, or biweekly payment must be derived from that convention.
Does the result include property tax?
The mortgage result does not. Optional property tax and condo fees are shown in the ownership budget.
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Official references
Sources used
Estimates are for educational purposes and may differ from lender calculations, contractual terms, taxes, fees, or regulatory requirements. Read the full disclaimer.
Last reviewed July 26, 2026. Content is marked for financial and compliance editorial review before material policy changes are published.