Canada
Canada Mortgage Payment Calculator
Estimate monthly payments with nominal semiannual compounding. Change the inputs below and the estimate updates immediately.
Input
Your numbers
Calculated result
Monthly principal and interest
CAD 2,791.70
Financed principal
CAD 480,000.00
Interest over full assumed schedule
CAD 357,511.18
Estimate only. Verify important decisions with an appropriate professional or official source.
How to use it
A quick estimate, without the spreadsheet.
Inputs and units
Enter home price, down payment, quoted nominal fixed rate and amortization years.
Formula
Monthly effective rate = (1 + annual rate / 200)^(1/6) − 1. The financed balance is amortized using monthly payments.
Worked example
CAD 120,000 at 0% over 10 years requires CAD 1,000 per month.
Assumptions and limitations
Assumes nominal semiannual compounding and monthly payments throughout amortization. Your mortgage term may be shorter than amortization. Renewal rates, variable-rate conventions, default insurance premiums, minimum down-payment eligibility, taxes and fees are excluded.
Keep calculating
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