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What will my payments be?
Mortgage Payment Calculator
Payments at every frequency, mortgage insurance, interest over your term and a full amortization schedule — with Canadian semi-annual compounding.
Reviewed by Stan Rashev, mortgage & real estate broker · Updated
Balance and interest over time Balance Cumulative interest
Year-by-year amortization schedule
| Year | Principal | Interest | Balance |
|---|
Tip: drag the sliders, or click any figure to type an exact amount.
01 How this calculator works
The method, in plain language.
- 01Canadian fixed-rate mortgages compound semi-annually, not monthly — so the same quoted rate gives a slightly lower payment than a US calculator would show.
- 02With less than 20% down, mortgage default insurance is required. The premium is added to your mortgage; in Québec a 9% tax on it is paid in cash at closing.
- 03Accelerated bi-weekly and weekly payments pay a little more each year, shortening your amortization by several years.
02 What the numbers don't show
Read this before you decide.
- Property taxes, insurance and condo fees aren't included in the payment shown.
- Insured 30-year amortizations are available to first-time buyers and buyers of new builds.
- Your actual rate depends on lender, term, down payment and credit.
Turn the estimate into a plan.
This calculator answers one question. A 30-minute review looks at all of them together — and the answer is often different.
Book a strategy call03 Keep going
The solution behind the numbers
Purchase & First Home
First purchases, upsizing and second properties — structured so the mortgage still fits five years from now, not just on closing day.
Explore How much home can I afford?Mortgage Affordability Calculator
Estimate your maximum purchase price the way lenders do — with GDS/TDS ratios and the federal stress test — and see which limit is binding.
Open calculator How much do I need down — and what does insurance cost?Down Payment & CMHC Insurance Calculator
Your minimum down payment, the mortgage insurance premium and the provincial tax on it (9% in Québec, 8% in Ontario) paid at closing.
Open calculator How much welcome tax will I pay?Québec Welcome Tax Calculator
Estimate Québec's land transfer duties — the “welcome tax” — for Montréal's higher brackets or the standard provincial rates, with a bracket-by-bracket breakdown.
Open calculator04 Start here
Request a confidential mortgage review.
Tell us what you're trying to solve. We'll come back within one business day with our read on the situation and the options worth considering — whether that's with us or not.
- A 30-minute conversation about your complete picture, not a rate quote
- No credit check to get started, and nothing to sign
- A minimum of 2–3 tailored options, explained in writing
- Your information is never shared with third parties
- Zero obligation or cost to you
Thank you — we're on it.
Stan or a member of the team will be in touch within one business day. If it's urgent, call (514) 994-1030.