Tools
Mortgage payment
Canadian fixed-rate mortgages compound twice a year, not monthly. Most calculators divide the rate by twelve, which is the American convention and overstates the payment on every quote. This one uses the method your lender uses.
- Mortgage amount
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- Total interest over 25.0 years
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- Total paid over the term
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This is the payment only. It does not include mortgage default insurance, does not check minimum down-payment rules, and is not a lender qualification. Those figures change, and a calculator quoting a stale one is worse than one that says so.
An estimate of principal and interest only. Your actual payment will also include property tax, and may include condo fees, home insurance and mortgage default insurance. It is not financial advice, not a rate quote, and not a mortgage approval — speak to a mortgage professional before relying on any figure here.
Nothing you type is submitted, stored or sent anywhere. The calculation runs entirely in your browser.
Want this run against a specific property, with the land transfer tax and the rest of the closing costs alongside it?
Call 905-872-3579