🍁 Canadian Mortgage Calculator

C$
%
Minimum 5% of the first $500,000 and 10% of the rest; 20% from $1.5M.
%
Compounded semi-annually, as Canadian law requires for fixed rates.
Insured mortgages can be amortized over 30 years only for first-time buyers or newly built homes.

Mortgage payment

C$3,081.41 / month

Monthly (12 a year) payments on a C$556,740 mortgage at 4.5% over 25 years

Home priceC$600,000
Down payment (10%)−C$60,000
Loan before insuranceC$540,000.00
CMHC insurance premium (3.1%)+C$16,740.00
Total mortgageC$556,740.00
Total interest
C$367,681
Total of payments
C$924,421
Paid off in
25.0 years

Minimum down payment for this price: C$35,000. The premium is added to the mortgage; Ontario, Quebec and Saskatchewan also charge provincial sales tax on it, payable at closing. Assumes the rate stays the same for the whole amortization (in reality you renew every 1–5 years).

Estimates for educational purposes, not financial advice.

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