FINANCIAL TOOLS / A CLEAR ANSWER

Mortgage Payment

Understand your payment, then see what sits beyond it.

All dollar amounts are CAD. Required fields are marked. Enter 0 for zero; leave optional amounts blank to exclude them.

Mortgage details

Home Price ($) · required Whole-dollar amounts.

Down Payment ($) · required Whole-dollar amounts.

Interest Rate (% Annual) · required Increments of 0.01 %.

Amortization (Years) · required Use 1–35 years in 0.1-year increments only when they form whole months (for example 1 or 1.5 years). Unsupported fractions such as 1.1 are rejected, not rounded.

Payment assumptions

Payment Frequency · required Sets the amount and time basis of each mortgage payment.

Interest Compounding · required Choose the interest-compounding assumption for this scenario.

Include Mortgage Insurance (If Required) · optional Standard high-ratio base premium only: traditional down payment, price below $1,500,000, minimum down payment, maximum 25 years. No premium at 20% or more down; low-ratio insurance, 30-year insured loans and premium taxes excluded.

Ready when you are

YOUR RESULT

A clear answer starts here.

Enter your scenario, or use the labelled example to explore. Your result will explain the amounts and assumptions that matter.

Assumptions

Uses your selected frequency and compounding.

The rate is held constant for the full amortization.

What this leaves out

Ownership costs include only the amounts entered; maintenance and home insurance are not included.

Mortgage insurance is a simplified estimate, not an eligibility determination.

Original tool notes

Uses the payment frequency and interest compounding assumptions selected above. Estimates are for educational purposes only — lender terms and insurance premiums vary.

Reminder: This calculator provides general estimates for education only. Actual mortgage terms, insurance premiums, and lender policies vary. Consider professional advice for purchase decisions.

Planning a purchase? Go beyond the payment to cash still needed and your whole monthly budget. Open the Home-Buying Budget Planner. Enter values manually; nothing transfers.

Keep the question in context

Read about the costs of homeownership → Try the mortgage prepayment calculator → Review your manually entered household balances →

Calculations stay separate from Your Finances. Nothing is transferred or saved there.