Mortgage · Canada

Mortgage payment calculator.

Calculate your Canadian mortgage payment with accurate semi-annual compounding. Includes CMHC insurance and a full amortization schedule.

Inputs

Property
$
$
20% down payment - no CMHC insurance required.
Mortgage
%
Accelerated payments help pay off your mortgage faster.

Your payment

Fill the form and press Calculate.

How this mortgage calculator works

Canadian mortgages use semi-annual compounding, so interest is computed twice per year rather than monthly as in the US. This results in a slightly lower effective rate than a comparable US calculator would show.

CMHC insurance

If your down payment is below 20%, mortgage default insurance (commonly called CMHC) is required and is added to the loan balance.

CMHC insurance is not available on homes priced over $1,000,000.

Payment frequency

Accelerated bi-weekly or weekly payments effectively add one extra monthly payment per year, shortening amortization and reducing total interest.

Disclaimer

Estimates for educational purposes only. Actual payments depend on lender policies, insurance premiums, property taxes, and other factors not included here. Consult a qualified mortgage professional.