§ Calculator · Housing
Mortgage payment calculator
What this is
Monthly payment + full amortization schedule for a Canadian mortgage.
Uses semi-annual compounding, the federally-regulated convention for Canadian residential mortgages. The payment number assumes a fixed rate over the full amortization; in practice you renew every 5 years at the prevailing rate.
- ·Principal: outstanding balance you owe today (or initial loan amount).
- ·Rate: the posted annual rate. Banks compound this semi-annually for Canadian mortgages.
- ·Amortization: total years to pay it off. 25 is common; 30 requires 20%+ down on uninsured mortgages.
Monthly payment
$2,905
Total interest
$371,554
Total paid
$871,554
Posted rate compounds semi-annually under Canadian law. CMHC-insured mortgages limited to 25 yr amortization; uninsured up to 30 yr.
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting. Always factor CMHC insurance, property tax + heating, and stress-test rate (current B-20 stress = max(contract+2%, 5.25%)).