Canada Mortgage Planning Calculator

Estimate a fixed-rate mortgage using the price, down payment, repayment period, user-entered rate, and actual costs you enter. This is a planning estimate, not a lender qualification or insurance quote.

Home price (CAD $)

Down payment (CAD $)

Repayment period (Years)

User-entered annual nominal interest rate (%)

Actual annual property or council tax (CAD $/yr)

Actual annual home insurance (CAD $/yr)

Financed mortgage default-insurance premium (CAD) Enter an actual premium from your insurer or lender only if it will be added to principal; otherwise enter 0.

Actual monthly association or building fee (CAD $/mo)

Estimate

Estimated total monthly amount

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Monthly principal and interest — Monthly property tax — Monthly home insurance — Financed insurance premium entered — Monthly association or building fee — Total interest over the selected term —

The premium is added once to principal and repaid through principal and interest. It is not charged again every year.

Source: CMHC mortgage loan insurance cost.

Monthly amount breakdown

Annual principal and interest schedule

GUIDE

Mortgage planning guide

What the estimate includes

The base loan is home price minus down payment. If you enter a financed mortgage default-insurance premium, it is added once to principal. For the Canadian nominal annual rate, the model converts semi-annual compounding to an equivalent monthly rate before applying the fixed-payment annuity formula. Annual property tax and home insurance are divided by 12, and the monthly association fee is added.

Why insurance is user entered

CMHC states that mortgage loan insurance premiums depend on loan-to-value and the applicable product. A premium is generally charged as a percentage of the loan and may be added to the mortgage. This calculator does not invent a universal annual 2.5% charge.

Planning boundary

The model assumes one unchanged nominal rate and equal monthly principal-and-interest payments for the selected repayment period. It does not model mortgage renewal, qualification, stress testing, prepayment, changing taxes, lender fees or approval.

Extra payment and refinance comparison

Compare a remaining loan, recurring extra payments, and a hypothetical refinance using rates and costs you enter.

CAD

Current balance Current annual rate (%) Remaining term (months) Extra payment each month Refinance annual rate (%) Refinance term (months) All refinance costs and penalties Planned time before sale/refinance (months) Plan start month

Scenario comparison

Scenario	Scheduled monthly payment	Payoff	Total interest	Upfront cost/cash	Difference vs baseline interest

Refinance cash-flow break-even—

Cash-flow change during planned hold—

Extra-payment time saved—

Monthly schedule

Scenario shown

The on-screen table shows the first 24 months and final month. CSV export includes every simulated month.

Month	Payment	Principal	Interest	Balance

Assumptions, worked example, and source

Rates are user-entered; no current lender rate or product recommendation is supplied. Most countries use annual rate ÷ 12. Canada uses nominal semi-annual compounding converted to a monthly rate.
Extra payment is applied after scheduled interest with no prepayment charge. Enter any early-repayment charge in refinance costs and confirm overpayment limits with the lender.
Refinance break-even accumulates monthly payment differences until they recover upfront costs. It is a cash-flow measure, not an equity, tax, opportunity-cost, or approval analysis.
The default worked example compares one remaining balance over its remaining term. Replace every assumption with the current statement and a formal refinance quote.

Consumer authority mortgage reference for this country · Method reviewed 2026-07-30.