Mortgage Payment Calculator
Estimate your regular mortgage payment using correct Canadian semi-annual compounding, including CMHC default insurance when your down payment is under 20%.
Monthly payment
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- Down payment
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- Mortgage amount
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- CMHC insurance
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- Loan-to-value
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- Total interest
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- Total of payments
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Assumptions & sources
Rates change. Here is exactly what this calculator uses and when each figure was last confirmed.
- Canadian fixed-rate mortgages use semi-annual compounding. i = (1+r/2)^(2/12)-1.Effective January 1, 2026 · Source
- CMHC default insurance premiums by loan-to-value. Required when down payment < 20%. Insured cap raised to $1.5M (Dec 15, 2024). No PST on premium in Alberta.Effective December 15, 2024 · Source
Estimates only — for general information, not financial, mortgage, tax, insurance, or legal advice. Confirm all figures with the appropriate licensed professional.
Frequently asked questions
How is a Canadian mortgage payment calculated?+
Canadian fixed-rate mortgages compound semi-annually, not monthly. We convert the annual rate to an effective per-payment rate using i = (1 + r/2)^(2/12) − 1, then apply the standard amortized payment formula.
When do I need CMHC mortgage insurance?+
If your down payment is less than 20% of the purchase price (and the price is within the insured cap of $1.5M), default insurance is required. The premium is added to your mortgage and is reflected automatically below.
What amortization should I choose?+
Insured mortgages (less than 20% down) are generally capped at 25 years. With 20% or more down, amortizations up to 30 years are common. A longer amortization lowers the payment but increases total interest.