Mortgage Calculator — Canada (2026)
Calculate your Canadian mortgage payment including CMHC insurance, with a full amortization schedule and total interest over the life of the loan.
2026 rates · Last reviewed: 2026
Amortization schedule
First year monthly, then year-end balances.
| Payment | Principal | Interest | Balance |
|---|
How Canadian mortgages work
Your monthly payment depends on three things: the mortgage amount (price minus down payment), the interest rate, and the amortization period — the total time to pay it off, commonly 25 years in Canada. This calculator computes the payment, the total interest over the full amortization, and a year-by-year schedule.
CMHC mortgage insurance
If your down payment is less than 20%, your mortgage is "high-ratio" and you must pay mortgage default insurance (commonly CMHC). The premium is a percentage of the loan that rises as your down payment shrinks, and it's added to your mortgage:
| Down payment | Loan-to-value | Premium |
|---|---|---|
| 5% – 9.99% | 90.01% – 95% | 4.00% |
| 10% – 14.99% | 85.01% – 90% | 3.10% |
| 15% – 19.99% | 80.01% – 85% | 2.80% |
| 20% or more | 80% or less | None |
In Canada the minimum down payment is 5% on the first $500,000 of price (with more required above that), so under 5% down isn't generally available.
Reading your schedule
Early payments are mostly interest; the principal portion grows over time. Our guide on reading an amortization schedule explains why — and how extra payments can save years of interest.
Estimate only
This figures principal, interest and CMHC. It doesn't include property tax, home insurance, condo fees or land transfer tax. Mortgage rules and stress-test requirements apply — confirm with a mortgage broker or lender.
This calculator provides estimates for general information only and is not financial or tax advice. See our disclaimer.