MortgageCalc Logo
MortgageCalc
🌍 Country Calculators
🇺🇸 United States🇬🇧 United Kingdom🇨🇦 Canada🇦🇺 Australia🇳🇿 New Zealand🇸🇬 Singapore🇰🇷 South Korea🇦🇪 UAE🇳🇴 Norway🇸🇪 Sweden🇩🇰 Denmark🇮🇱 Israel🇮🇸 Iceland🇪🇺 Eurozone🇯🇵 Japan🇨🇭 Switzerland🇮🇳 India🇸🇦 Saudi Arabia🇨🇳 China

Canada Mortgage Calculator

Calculate your Canadian mortgage payments, compare loan options, and determine what you can afford in Canada

Loan Details
Enter your mortgage information to get accurate calculations

$300,000

20.0% of home price ($60,000)

Additional Costs
Monthly expenses beyond mortgage

$3,000

$1,200

Required if down payment < 20% ($0)

$0

Extra Payments
Pay off your mortgage faster

Monthly Payment

$1,517

Principal & Interest

Total Monthly

$1,867

Including all costs

Total Interest

$306,107

Over life of loan

Total Cost

$546,107

Principal + Interest

Payment Breakdown

Total Cost

$546,107
Over 30 years

Principal

$240,000
43.9% of total

Interest

$306,107
56.1% of total

Payment Breakdown

Principal43.9%
$240,000
Interest56.1%
$306,107
Interest vs Principal Ratio
You'll pay 56% in interest
That's $66,107 more than the original loan amount
Amortization Schedule
See how your loan balance decreases over time
YearPaymentPrincipalInterestBalance
1$1,517$217$1,300$239,783
1$1,517$230$1,287$237,317
2$1,517$246$1,271$234,455
3$1,517$262$1,255$231,401
4$1,517$280$1,237$228,143
5$1,517$298$1,219$224,666
6$1,517$318$1,199$220,957
7$1,517$340$1,177$216,999
8$1,517$362$1,155$212,776
9$1,517$387$1,130$208,270
10$1,517$413$1,104$203,463
11$1,517$440$1,077$198,333
12$1,517$470$1,047$192,860
13$1,517$501$1,016$187,021
14$1,517$535$982$180,790
15$1,517$571$946$174,142
16$1,517$609$908$167,049
17$1,517$650$867$159,481
18$1,517$693$824$151,405
19$1,517$740$777$142,790
20$1,517$789$728$133,597
21$1,517$842$675$123,788
22$1,517$898$619$113,323
23$1,517$958$559$102,156
24$1,517$1,023$494$90,242
25$1,517$1,091$426$77,530
26$1,517$1,164$353$63,967
27$1,517$1,242$275$49,495
28$1,517$1,325$192$34,054
29$1,517$1,414$103$17,579
30$1,517$1,509$8$0

Canada Mortgage Calculator Guide

Our comprehensive Canadian mortgage calculator is designed specifically for the Canadian housing market. Whether you're buying your first home in Toronto, Vancouver, Montreal, or anywhere across Canada, our calculator accounts for Canadian-specific factors like CMHC insurance, land transfer tax, and provincial regulations.

Canadian Mortgage Features

CMHC Insurance:Calculate CMHC mortgage insurance for down payments under 20%.
First-Time Buyer Programs:Calculate first-time home buyer incentives and rebates.
Fixed & Variable Rates:Support for 5-year fixed terms and variable rate mortgages.
Land Transfer Tax:Automatic land transfer tax calculations by province.
Stress Test Calculator:Qualifying rate calculations for mortgage approval.
Property Tax Integration:Property tax calculations by municipality and province.

Canada Mortgage Market Overview

The Canadian mortgage market offers various loan types including fixed-rate, variable-rate, and hybrid mortgages. Current mortgage rates vary by lender, credit score, and loan type, with 5-year fixed rates typically ranging from 5-7%. Our calculator helps you understand the true cost of homeownership including property taxes, CMHC insurance, and land transfer taxes to make informed decisions about your home purchase across all provinces and territories.