Canadian mortgage calculator

Plan a conversation with RealtorSphere. Estimates in Canadian dollars; the starting 5% rate is illustrative, not a market offer or qualification.

Your mortgage assumptions

Home price ($)Down payment ($)Down payment (%)Illustrative annual nominal interest rate (%)Amortization (years)Mortgage term (years)Payment frequency

Advanced expenses

Annual property taxes ($)Annual home insurance ($)

Estimated results

$2,326.42 per payment

CAD projection

Financed principal: $400,000.00
Default insurance premium: $0.00
Projected total interest: $297,925.98
Balance after 5-year term: $354,030.03
Tax + home insurance per payment: $0.00
Total with expenses: $2,326.42
Projected payoff: 25.0 years

Amortization schedule (annual)

Annual principal, interest and remaining balance
Year	Principal	Interest	Balance
1	$8,309.04	$19,608.00	$391,690.96
2	$8,729.66	$19,187.38	$382,961.30
3	$9,171.61	$18,745.43	$373,789.69
4	$9,635.91	$18,281.13	$364,153.78
5	$10,123.75	$17,793.29	$354,030.03
6	$10,636.23	$17,280.81	$343,393.80
7	$11,174.72	$16,742.32	$332,219.08
8	$11,740.45	$16,176.59	$320,478.63
9	$12,334.81	$15,582.23	$308,143.82
10	$12,959.24	$14,957.80	$295,184.58
11	$13,615.30	$14,301.74	$281,569.28
12	$14,304.58	$13,612.46	$267,264.70
13	$15,028.75	$12,888.29	$252,235.95
14	$15,789.58	$12,127.46	$236,446.37
15	$16,588.94	$11,328.10	$219,857.43
16	$17,428.74	$10,488.30	$202,428.69
17	$18,311.08	$9,605.96	$184,117.61
18	$19,238.08	$8,678.96	$164,879.53
19	$20,211.99	$7,705.05	$144,667.54
20	$21,235.23	$6,681.81	$123,432.31
21	$22,310.27	$5,606.77	$101,122.04
22	$23,439.73	$4,477.31	$77,682.31
23	$24,626.37	$3,290.67	$53,055.94
24	$25,873.06	$2,043.98	$27,182.88
25	$27,182.88	$734.14	$0.00

Down payment and default insurance

The model uses 5% on the first $500,000 and 10% above that for purchases below $1.5 million; at $1.5 million or more, 20% is required. Below 20%, the model finances a traditional-source CMHC premium of 2.8%, 3.1% or 4%, based on loan-to-value. Default insurance protects the lender, not your home or income.

Insured estimates are limited to 25-year amortization. Eligible 30-year insured products require a lender review and are not modelled. Uninsured estimates support up to 40 years without implying lender availability. Provincial tax on premiums, closing costs, stress testing and eligibility are excluded. This Alberta-oriented estimate includes no provincial premium sales tax.

Amortization, term and interest

Amortization is the projected repayment period. The term is your current contract period; its ending balance remains payable or must be renewed. We convert an annual nominal rate compounded twice yearly to equivalent payment-period rates. Variable-rate products may use different conventions.

Regular weekly and biweekly payments spread twelve monthly payments across the year. Accelerated payments use a quarter or half of the monthly payment. Interest and payments round to cents; the last payment adjusts to the balance. Equal periods are assumed, without a lender-specific first-payment calendar.

Property taxes and home insurance

These are separate annual costs, spread across the selected payment frequency for budgeting. They do not reduce mortgage principal. Home insurance covers property risks and differs from mortgage default insurance.

Projection assumptions and sources

All future renewals use the same illustrative rate. The schedule is an estimate, not a quote, preapproval or affordability decision. Ask your lender about terms, eligibility, fees and actual payment dates.

Policy sources reviewed October 20, 2026. The 2024 Finance reform is used for the $1.5 million cap; an older FCAC paragraph still mentions $1 million.