Canadian home-buying planning
Canada mortgage calculator
Estimate a monthly mortgage payment from a home price, down payment, rate and amortization period.
Canadian mortgage terms and amortization
In Canada, the mortgage term and amortization period can be different. This calculator uses the amortization period for a full repayment illustration and converts the usual semi-annual compounding convention into a monthly estimate.
When the loan-to-value ratio is above 80%, the calculator adds the published CMHC homeowner premium rate to the mortgage illustration. Provincial tax on the premium, eligibility, lender choice, property tax, fees and renewals are excluded.