Canadian Mortgage Calculator
Estimate the payment the Canadian way, then see mortgage insurance, renewal balance, total housing cost, stress-test payment, accelerated schedules and prepayment savings.
Mortgage details
Fixed-rate math uses the Canadian convention: the quoted nominal annual rate is compounded semi-annually and converted to the selected payment period. Accelerated bi-weekly is half the monthly payment every two weeks; accelerated weekly is one quarter of the monthly payment every week.
Housing costs beyond the mortgage
These do not change the loan payment, but they matter when deciding what the home actually costs each month.
What happens before renewal?
Unlike a basic payment calculator, this separates interest from principal during your selected mortgage term.
The stress-test amount is a qualification estimate, not the payment you would actually make. It uses the greater of 5.25% or your contract rate + 2%.
PREPAYMENTSee how extra payments change the mortgageOptional
Compare payment frequencies
Accelerated schedules deliberately pay more each year, so they can shorten the amortization and reduce interest.
| Frequency | Payment | Paid / year | Payoff | Interest* |
|---|---|---|---|---|
| Monthly | $2,269 | $27,231 | 25 yr | $270,772 |
| Semi-monthly | $1,135 | $27,231 | 25 yr | $269,614 |
| Bi-weekly | $1,047 | $27,231 | 25 yr | $269,526 |
| Accelerated bi-weekly | $1,135 | $29,500 | 21 yr 8 mo | $229,708 |
| Weekly | $524 | $27,231 | 24 yr 11 mo | $268,993 |
| Accelerated weekly | $567 | $29,500 | 21 yr 8 mo | $229,247 |
*Lifetime interest assumes the entered rate never changes. Real Canadian mortgages normally renew before the amortization ends, so actual lifetime interest will differ.
Year-by-year balance
The schedule includes your selected payment frequency and any prepayments entered above.
| Year | Opening | Principal | Interest | Prepaid | Ending |
|---|---|---|---|---|---|
| 1 | $410,000 | $9,137 | $18,094 | $0 | $400,863 |
| 2 | $400,863 | $9,552 | $17,678 | $0 | $391,311 |
| 3 | $391,311 | $9,987 | $17,244 | $0 | $381,324 |
| 4 | $381,324 | $10,442 | $16,789 | $0 | $370,882 |
| 5 | $370,882 | $10,917 | $16,314 | $0 | $359,965 |
Built for Canadian mortgage rules
This estimator follows the Canadian fixed-rate convention and current federal mortgage rules used for the scenarios above. Default-insurance eligibility and underwriting can still vary by lender, borrower and property.
Mortgage payment examples
Not sure what mortgage amount fits?
Start with income, down payment and monthly debt instead.
Open the Home Affordability Calculator →Built around Canadian mortgage conventions
Fixed-rate payment estimates use the equivalent periodic rate from a nominal annual rate compounded semi-annually. The calculator can also model mortgage default insurance, the stress-test qualifying payment, payment frequency, prepayments and renewal balance.
How this calculator works
This tool provides an estimate for planning purposes. Actual taxes, lending costs, insurance premiums and fees vary by province and personal circumstances. Review our methodology and data sources, and verify important financial decisions with official sources or a qualified professional.