Mortgage calculator
Estimate your payments, the CMHC insurance premium and the real cost of your loan. Results appear instantly and use the Canadian method (interest compounded semi-annually).
Balance over time
Amortization schedule
How to read your results
CMHC premium. With a down payment of less than 20%, the loan must be insured. The premium (2.80% to 4.00% of the loan, depending on your down payment) is added to the amount borrowed. In Quebec, a 9% tax on this premium must be paid upfront at the notary’s office.
Minimum down payment. 5% on the first $500,000, then 10% on the portion between $500,000 and $1.5 million. Above $1.5 million, 20% is required.
Accelerated payments. Paying half of your monthly payment every two weeks works out to one extra monthly payment per year: your loan is paid off faster and you pay less interest.
Term and amortization. The amortization is the total length of time needed to repay the loan. The term is the length of your contract with the lender; at the end of it, you renew at the rate in effect at that time.
This calculation is an estimate provided for information only. It is not an offer of financing. Rates, conditions and eligibility are determined by your financial institution or your mortgage broker.