Mortgage calculator

Canadian mortgage payment calculator

Estimate a Canadian mortgage payment, mortgage default insurance, qualifying rate, and the ownership costs your payment does not include.

Start calculating

See the payment and the costs around it.

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Example numbers

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Next stepCheck cash to close

STEP 1 OF 2

Where is the property?

Choose a province or territory so taxes, transfer fees, and regional assumptions are tailored before you start.

NEXT STEPS

What to do next

Continue your plan, verify the official rule, and know who can confirm details specific to your situation.

Continue your planHome closing-cost calculator for Canada

Choose a province or territory, then estimate regional transfer or registration fees, verified buyer relief, mortgage-insurance tax, and total cash needed at closing.

Verify at the sourceFCAC mortgage calculator

Open the published source to confirm the rule and its effective date.

Who to consultA lender or licensed mortgage professional

Confirm qualification, product terms, prepayment privileges, and final approval.

Understand the result

What this mortgage estimate includes

Canadian semi-annual interest compounding converted to an effective monthly rate.
Mortgage default insurance when the down payment is below 20% and the purchase is eligible.
A separate stress-test payment using the greater of 5.25% or your contract rate plus 2%.

Formula and assumptions

Calculations are reproducible and use the published rules linked below. Service-cost amounts are planning allowances, not quotes.

Read the calculation methodology

FAQ

Common questions

How are mortgage payments calculated in Canada?

Most fixed-rate Canadian mortgages quote a nominal annual rate compounded twice per year. This calculator converts that rate to an effective monthly rate before calculating the payment.

Does the payment include property tax and utilities?

The mortgage payment does not. The tool shows a separate estimated monthly ownership total so those costs stay visible.

Prepare the facts, open decisions, professional reviews, and delivery questions involved in submitting a home offer without a buyer's agent in Canada.

Read the guide