Canadian Mortgage Calculator

Accurate payments, closing costs, stress test, and broker-grade insights for every Canadian province.

You will need

Home price or mortgage balance
Down payment amount or percentage
Your interest rate
Province

You will know

Your exact monthly payment
Total cash needed on closing day
Interest vs principal over your term
Personalized broker-grade insights

Your results will appear here

Fill in a few numbers on the left to get started.

1Province

2Home price

3Down payment

4Interest rate

How this calculator works

This calculator applies Canadian mortgage rules precisely: semi-annual compounding as required by the Interest Act, CMHC premium tiers updated for December 2024, land transfer tax with first-time buyer rebates for all 13 provinces and the Toronto municipal surcharge, and the correct stress test qualifying rate.

Most online calculators use monthly compounding, which understates your true payment. Canadian mortgages compound semi-annually — this matters and we get it right.

The insights panel compares your rate against the best available rates for your mortgage type. Insured mortgages (under 20% down) access different pricing than insurable (20%+ down, under $1.5M) and conventional (over $1.5M or 30yr amortization) mortgages.

Canadian mortgage rules you should know

Minimum down payment: 5% on first $500K, 10% on $500K–$999K, 20% on $1M–$1.5M. No insured mortgages above $1.5M.

Stress test: All federally regulated lenders qualify you at contract rate + 2% or 5.25%, whichever is higher.

CMHC insurance: Required when down payment is under 20%. Premium is 2.8%–4% of the mortgage, added to your balance.

Semi-annual compounding: Canadian law requires semi-annual compounding on fixed mortgages. Your effective rate is slightly higher than stated.

Renewal vs refinance: Renewing at term end with a new lender no longer requires stress test re-qualification as of November 2024.

Monthly

$0.00

Monthly ownership