Canadian Mortgage Payment Calculator

Quickly Estimate Your Monthly Mortgage Payments

Our free Canadian Mortgage Calculator helps you estimate monthly payments, down payments, and interest costs. Whether you're a first-time homebuyer or refinancing, get a clear picture of your mortgage in seconds.

All calculations are approximate. For official rates and approval, please contact us directly.

Mortgage Size

Default insured mortgage cap is $1.5M. First-time buyers & new builds can have up to 30-year amortizations (from Dec 15, 2024).

$
Current Value: $500,000

Down Payment & Property Type

$
0% 20% 100%
Current Value: $100,000

Payment Frequency

Interest Rate

%
Current Rate: 4.24%
Term length for your chosen rate.

Amortization

5 25 30
From Dec 15, 2024, first-time buyers & new builds can choose up to 30 years.

Home Expenses

Yearly
Monthly
$
$
$

Rental Income

Check if you rent out part of your home.

Yearly
Monthly
Accelerated Payments & Pre-payments
Increase the number of payments/year and choose the % extra you want each time.

Make a lump sum on your mortgage right away.

Extra principal applied once per year.

Advanced Settings

$0

Includes 0% extra payment
  • Monthly Mortgage
    $0.00
  • Home Expenses
    $0.00
  • Other Expenses
    $0.00
  • Rental Income
    $0.00

Mortgage Size: $0

Down Payment: $0

Mortgage Insurance: $0.00

Details

Mortgage Payment: $0.00
Net Mortgage (with Insurance): $0.00
Interest paid over Term: $0.00 (INTEREST SAVING $0)
Balance end of Term: $0.00
Effective Amortization: 0 years (0 years faster)

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Comparison: Your Scenario vs. Minimum 5% Down

Your Scenario (Below 5% Down)
Payment ignoring insurance: $0.00

Minimum 5% Down Scenario
Payment with insurance (5% down): $0.00

Compare Two Scenarios

Quickly see how different down payments or rates affect your monthly payment.

Scenario B Result

Monthly Payment: $0.00

Interest Paid Over Term: $0.00

Mortgage Insurance: $0.00