Mortgage Calculator
Estimate your monthly payment in seconds
Parameters
Adjust the values to model your mortgage
Results
Fixed rate · 25 yrs
Monthly payment
$2,456.35
- Biweekly payment
- $1,133.05
- Total interest
- $336,905
- Total cost
- $836,905
Mortgage default insurance
CMHC and private insurers
When the down payment is below 20%, lenders typically require mortgage default insurance (often through CMHC, the Canada Mortgage and Housing Corporation, or a private insurer). The premium is calculated as a percentage of the borrowed amount and is most often added to the principal and paid back with the loan, which this calculator reflects.
With a down payment of 20% or more, a conventional loan typically does not require this insurance for primary residence scenarios, subject to your lender's policy.
Market interest rates change with the Bank of Canada, bond yields, and your profile (term, fixed vs variable, renewal). The rate you enter is for modeling a scenario only. Always compare offers from lenders and mortgage brokers.
Important notice: this calculator provides an estimate for guidance only. It does not replace a pre-approval, a loan offer, or professional advice. Fees, taxes, home insurance, and penalties are not included.
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