Free Tool

Mortgage Payment Calculator — Canada

Estimate your monthly, bi-weekly, or weekly payment instantly. Enter your numbers below — no email required.

Mortgage payment calculator

Drag sliders or type values — payment updates live.

$650,000
$130,000
4.05%
25 years
Monthly
Estimated payment
$0
per month
Mortgage
$0
Total interest
$0
Total cost
$0
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Common questions
How is a Canadian mortgage payment calculated?
Canadian mortgages are compounded semi-annually (not monthly like in the US). Your payment depends on the principal, interest rate, amortization, and payment frequency. This calculator uses the correct Canadian compounding formula.
What is the minimum down payment in Canada?
5% on homes up to $500,000; 10% on the portion from $500,000 to $1 million; 20% on homes over $1 million. Down payments under 20% require CMHC mortgage insurance.
Does the stress test affect my payment?
The stress test determines how much you qualify for (at contract rate +2% or 5.25%), but your actual payment is based on your contract rate, not the stress test rate.
More questions
Is bi-weekly the same as bi-monthly?
No. Bi-weekly means every two weeks (26 payments/year). Bi-monthly means twice a month (24 payments/year). Bi-weekly accelerated payments can shorten your amortization significantly.
Does this calculator include CMHC insurance?
The calculator uses the mortgage amount you enter. If your down payment is less than 20%, remember to add the CMHC premium (2.8%–4%) to your mortgage principal for an accurate estimate.

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