🏠 Canadian Mortgage Calculator
Monthly Payment
-
Total Interest
-
Total Cost
-
Loan Amount
-
💡 Canadian Mortgage Tips
20% Down Avoids CMHC Insurance
In Canada, less than 20% down requires CMHC mortgage insurance which adds 2.8–4% to your mortgage amount.
Canadian Mortgages Compound Semi-Annually
Unlike US mortgages, Canadian mortgages compound semi-annually by law. This calculator uses the correct Canadian formula.
Maximum Amortization is 25 Years
For insured mortgages (less than 20% down), the maximum amortization period in Canada is 25 years.