Mortgage Payment Calculator Canada

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Extra payments go directly to principal, reducing interest and shortening your loan term.

Like what you see? Apply at this rate today.

Adjust the rates above to see your potential savings.

Canadian standard semi-annual compounding. Showing up to 25 years.

A RateStreet advisor will price your actual scenario across lenders, set the amortization and frequency to fit your budget, and show you what the renewal looks like before you sign. No obligation.

Calculate your exact monthly mortgage payment. Includes CMHC insurance, full amortization schedules, and comparison across all Canadian terms and rates. Free to use.

Canadian fixed-rate mortgages compound twice a year by law, not monthly. It's why the same rate costs slightly less here than a monthly-compounded loan would, and why a payment calculator built for another country is a little off.

Accelerated bi-weekly payments are half the monthly amount, 26 times a year, which works out to one extra monthly payment annually. On a 25-year mortgage that alone can take about three years off.

With less than 20% down the mortgage is insured (CMHC, Sagen or Canada Guaranty). The premium is a percentage of the loan, added to the balance, and it changes the payment. The calculator applies it when you enter a purchase price.

Most lenders allow 10–20% of the original balance each year in prepayments, plus a payment increase. Every dollar goes to principal, so even a modest annual lump sum saves thousands and years. Check your privileges before relying on them.

Your payment is fixed for the term, not the amortization. When the term ends you re-price at that day's rates, and a higher rate on a large balance is a real jump. Run the payment-shock calculator with a rate 1–2% higher than today's.

A quarter-point on $500,000 is about $70 a month and roughly $4,000 over a five-year term. RateStreet compares every lender we can place with, including the ones that don't advertise.