Canada Mortgage Calculator


This calculator figures out the core monthly principal and interest payments on a Canadian mortgage given a specific interest rate and loan term. When you enter the home price we will automatically calculate the minimum required down payment amount. Once you have entered your actual down payment amount we will calculate the required upfront insurance, the loan amount, and your monthly loan payments. You can create a printable amortization schedule using the button at the bottom of the calculator, though please note that after your rates reset after the introductory period your rates, actual monthly payments and amortization schedule will change to reflect changing market conditions.

This calculator is for the Canadian market. We also offer a US mortgage calculator and a UK mortgage calculator.

Your Home & Downpayment Info

Home price:
Minimum required downpayment (automatically calculated):
Enter your downpayment:
Required mortgage insurance (automatically calculated based on LTV):

Your Mortgage Info

Mortgage loan amount with insurance (automatically calculated based on above):
What is the loan's annual interest rate?
What is the amortization term of the loan in years?

Your Mortgage Payments

Monthly payment amount:
Sum of all payments:
Total interest paid:

Create a Printable Amortization Schedule

Number of years to amortize:
Select Loan Start Date:

Calculating the Minimum Required Downpayment

The following table shows how Canadian home buyers can calculate the minimum required downpayment on a home.

Home Price Minimum Required Downpayment
$500,000 or less5% of purchase price
$500,000 to $999,999 5% of first $500,000 & 10% for the remainder
$1,000,000 or more20% of purchase price

Calculating Required Mortgage Insurance Cost

The following table shows how Canadian home buyers can calculate the cost of insuring their home loan.

Down Payment CMHC Mortgage Insurance Fees
5% to 9.99% 4.0% of loan amount
10% to 14.99% 3.1% of loan amount
15% to 19.99% 2.8% of loan amount
20% or more not required

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