Canada Mortgage Payment Calculator

Fixed rate, compounded half-yearly. CMHC figures last reviewed on 8 October 2026.

Home price ($)

Down payment ($)

At least 5% of the first $500,000 and 10% of the rest

Interest rate (% a year)

Fixed, compounded half-yearly

Amortization (years)

Payment frequency

CMHC premium

Only when the down payment is under 20%

Payment (monthly): $2,873.13
Mortgage amount: $494,000.00
Loan to value: 95.00%
CMHC premium: $19,000.00 (4.00%)
Minimum down payment: $25,000.00
Total interest: $367,938.25
Total of payments: $861,938.25
Number of payments: 300

Year-by-year summary
Year	Paid	Principal	Interest	Balance
1	$34,477.56	$10,261.67	$24,215.89	$483,738.33
2	$34,477.56	$10,781.15	$23,696.41	$472,957.18
3	$34,477.56	$11,326.95	$23,150.61	$461,630.23
4	$34,477.56	$11,900.38	$22,577.18	$449,729.85
5	$34,477.56	$12,502.83	$21,974.73	$437,227.02
6	$34,477.56	$13,135.81	$21,341.75	$424,091.21
7	$34,477.56	$13,800.80	$20,676.76	$410,290.41
8	$34,477.56	$14,499.48	$19,978.08	$395,790.93
9	$34,477.56	$15,233.51	$19,244.05	$380,557.42
10	$34,477.56	$16,004.70	$18,472.86	$364,552.72
11	$34,477.56	$16,814.93	$17,662.63	$347,737.79
12	$34,477.56	$17,666.19	$16,811.37	$330,071.60
13	$34,477.56	$18,560.54	$15,917.02	$311,511.06
14	$34,477.56	$19,500.16	$14,977.40	$292,010.90
15	$34,477.56	$20,487.34	$13,990.22	$271,523.56
16	$34,477.56	$21,524.52	$12,953.04	$249,999.04
17	$34,477.56	$22,614.22	$11,863.34	$227,384.82
18	$34,477.56	$23,759.06	$10,718.50	$203,625.76
19	$34,477.56	$24,961.85	$9,515.71	$178,663.91
20	$34,477.56	$26,225.55	$8,252.01	$152,438.36
21	$34,477.56	$27,553.22	$6,924.34	$124,885.14
22	$34,477.56	$28,948.09	$5,529.47	$95,937.05
23	$34,477.56	$30,413.60	$4,063.96	$65,523.45
24	$34,477.56	$31,953.28	$2,524.28	$33,570.17
25	$34,476.81	$33,570.17	$906.64	$0.00

An estimate, not financial advice

This covers fixed-rate mortgages only, not variable rates. The premium uses CMHC's table for a traditional down payment; provincial sales tax on the premium in Quebec, Ontario and Saskatchewan is not included. Your lender gives the exact figures.

Official sources, last reviewed on 8 October 2026:

Quick facts

Price: Free
Sign-up: Not required
Where it runs: On your device
Files uploaded: No
Limits: No fixed limit
Updated: October 8, 2026

Canada Mortgage Payment Calculator works out the payment on a fixed-rate Canadian mortgage, with the rate compounded half-yearly, CMHC’s minimum down payment and the mortgage loan insurance premium. It is for buyers in Canada who want to see what a home price, down payment and rate mean for each payment, whether they pay monthly, twice a month, every two weeks or weekly. The CMHC figures are linked on the page with the date we last reviewed them.

How to use

Type the Home price and your Down payment. The calculator checks the down payment against CMHC’s minimum: 5% of the first $500,000 and 10% of the rest.
Type the yearly Interest rate of your fixed-rate mortgage, up to three decimals, and the Amortization in whole years.
Pick a Payment frequency: monthly, semi-monthly, bi-weekly or weekly.
If your down payment is under 20%, a CMHC premium is charged on the loan. Choose whether it is added to the mortgage or paid separately as a lump sum.
Read the payment, the premium, the totals and the year-by-year summary of what you paid and what you still owe.

Examples

The page opens on a $500,000 home with $25,000 down, the minimum. The loan of $475,000 is 95% of the price, so the CMHC premium is 4.00%, or $19,000, and the mortgage becomes $494,000 when it is added. At 5% over 25 years, compounded half-yearly, the monthly payment is $2,873.13 and total interest is $367,938.25 over 300 payments. Switch to bi-weekly and each payment is $1,324.59, 650 of them in all.

Limits

This handles fixed-rate mortgages only, with the rate treated as compounded half-yearly; it does not handle variable rates. The premium uses CMHC’s table for a traditional down payment and leaves out non-traditional down payments, portability, energy-efficient refunds and the provincial sales tax charged on premiums in Quebec, Ontario and Saskatchewan. It does not check the longest amortization a lender or insurer allows, accelerated payments, prepayments, renewals or other insurers’ premiums. CMHC lists its loan-to-value bands to two decimals, such as 75.01% to 80%, and does not say which band a ratio between two of them, such as 75.005%, falls in; this calculator puts any ratio above 75% in the next band, and does the same at 65%, 80%, 85% and 90%. Payments and interest are rounded to the cent, so your lender’s figures can differ by a few cents. Prices are up to $50 million, rates up to 30% and amortizations up to 40 years, limits we chose.

FAQ

Why does this give a lower payment than a US calculator at the same rate?

The Interest Act requires a mortgage to state its rate calculated yearly or half-yearly, and this tool treats the rate as compounded half-yearly. At 6%, that is about 0.494% a month instead of 0.5%, so $100,000 over 25 years costs $639.81 a month rather than $644.30.

When is mortgage loan insurance needed?

CMHC says you need it when your down payment is less than 20% of the price. It is not available on a home of $1,500,000 or more, so the calculator asks for 20% down at that price.

Is the premium paid upfront or over time?

Either. You can pay it as a lump sum or add it to your mortgage, and when it is added you pay interest on it with the rest of the loan.