Skip to content
Finance Calc Kit
Mortgages

Canadian Mortgage Calculator

Calculate Canadian mortgage payments with semi-annual compounding and payment frequency options.

Home and down payment

$
$
%

Loan terms

%

Monthly mortgage payment

$2,764.76

Payment summary

CMHC insurance premium$13,950.00
Down payment$50,000.00 (10.00%)
Total principal repaid$463,950.00
Total interest paid$365,479.01
Total out-of-pocket cost$879,429.01

Annual amortization schedule

YearStart balancePrincipalInterestEnd balance
Year 1$463,950.00+$9,301.29-$23,875.83$454,648.71
Year 2$454,648.71+$9,796.02-$23,381.10$444,852.69
Year 3$444,852.69+$10,317.06-$22,860.06$434,535.64
Year 4$434,535.64+$10,865.81-$22,311.31$423,669.83
Year 5$423,669.83+$11,443.75-$21,733.37$412,226.07
Year 6$412,226.07+$12,052.44-$21,124.68$400,173.63
Year 7$400,173.63+$12,693.49-$20,483.63$387,480.14
Year 8$387,480.14+$13,368.65-$19,808.47$374,111.49
Year 9$374,111.49+$14,079.72-$19,097.40$360,031.78
Year 10$360,031.78+$14,828.60-$18,348.52$345,203.17
Year 11$345,203.17+$15,617.32-$17,559.80$329,585.85
Year 12$329,585.85+$16,447.99-$16,729.13$313,137.86
Year 13$313,137.86+$17,322.85-$15,854.27$295,815.01
Year 14$295,815.01+$18,244.23-$14,932.89$277,570.78
Year 15$277,570.78+$19,214.63-$13,962.49$258,356.16
Year 16$258,356.16+$20,236.63-$12,940.49$238,119.52
Year 17$238,119.52+$21,313.00-$11,864.12$216,806.52
Year 18$216,806.52+$22,446.62-$10,730.50$194,359.90
Year 19$194,359.90+$23,640.53-$9,536.59$170,719.37
Year 20$170,719.37+$24,897.95-$8,279.17$145,821.42
Year 21$145,821.42+$26,222.25-$6,954.87$119,599.17
Year 22$119,599.17+$27,616.99-$5,560.13$91,982.18
Year 23$91,982.18+$29,085.91-$4,091.21$62,896.27
Year 24$62,896.27+$30,632.96-$2,544.16$32,263.31
Year 25$32,263.31+$32,262.30-$914.82$1.01
Canadian down payment minimums, CMHC premium tiers, and high-ratio amortization limits reflect rules in effect for 2026. Interest uses semi-annual compounding with Canadian payment frequency conventions. Actual lender terms may vary.
Report tool

How the Canadian mortgage calculator works

Canadian mortgages use semi-annual compounding, which differs from the monthly compounding common in U.S. loans. This calculator applies federal down payment minimums, CMHC insurance premiums for high-ratio loans, amortization caps, and multiple payment frequencies including accelerated bi-weekly and weekly options.

For U.S. mortgage math with taxes and insurance, try the mortgage calculator with taxes and insurance. For UK stamp duty and GBP payments, use the mortgage calculator UK. . To compare bi-weekly payoff strategies, open the biweekly mortgage calculator.

Canadian mortgage formulas

Interest is quoted nominally but compounded semi-annually. The equivalent monthly rate is:

im=(1+r2)2/12−1i_m = \left(1 + \frac{r}{2}\right)^{2/12} - 1

Payment per period uses the Canadian equivalent rate for your chosen frequency:

i=(1+r2)2/f−1i = \left(1 + \frac{r}{2}\right)^{2/f} - 1

CMHC premiums apply when the down payment is below 20% on homes under $1,000,000. The premium is added to the mortgage balance, increasing both payment and total interest.

Worked example: $500,000 home, 10% down, 5.25% rate

A buyer purchases a $500,000 home with $50,000 down (10%) on a 25-year amortization at 5.25% with monthly payments:

  1. CMHC premium (3.1% tier): ($500,000 - $50,000) x 3.1% = $13,950
  2. Loan amount: $500,000 - $50,000 + $13,950 = $463,950
  3. Monthly payment: $2,764.76
  4. Total interest over 25 years: $365,479.01

Down payment and amortization rules (2026)

  • Minimum down payment: 5% on the first $500,000, 10% on the portion above $500,000 up to $999,999, and 20% on homes of $1,000,000 or more.
  • CMHC insurance: Required when down payment is below 20% on eligible properties under $1,000,000.
  • Amortization cap: High-ratio insured mortgages are generally limited to 25-year amortization.

Frequently asked questions

How is a Canadian mortgage different from a U.S. mortgage?
Canadian mortgages compound interest semi-annually, while U.S. mortgages typically compound monthly. This changes the effective periodic rate even when the nominal rate looks the same.
What is CMHC mortgage insurance?
CMHC (and other insurers) provide mortgage default insurance on high-ratio loans where the down payment is less than 20%. The premium is usually added to the loan balance.
What is accelerated bi-weekly payment?
Accelerated bi-weekly takes the monthly payment, divides it by two, and pays that amount every two weeks. You make 26 half-payments per year, equivalent to 13 monthly payments, paying the loan off faster.
What rules does this calculator use for 2026?
Down payment tiers, CMHC premium rates, and the 25-year high-ratio amortization cap reflect Canadian rules in effect for 2026. Lender-specific stress tests and provincial transfer taxes are not included.
Are the results stored?
No. All math runs in your browser. Inputs sync to the page URL for sharing.

Resources and references

The formulas and methods in this calculator were checked against these independent sources.