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Calculate your monthly mortgage payment, total cost, and full amortization schedule for any Canadian mortgage.
Whether you're buying your first home, refinancing, or comparing mortgage products, understanding your exact costs is essential. This calculator gives you monthly payments, total interest, and a complete year-by-year amortization breakdown — so there are no surprises.
Mortgage Payment Calculator
Mortgage Amount
Payment Amount
Total Interest
Total Cost
Principal vs. Interest Split
■ Principal■ Interest
Amortization Schedule (Yearly)
Year
Payments
Principal
Interest
Balance
Canadian Mortgage: Key Facts
Semi-annual compounding: Canadian mortgages are compounded semi-annually (not monthly like U.S. mortgages), which affects your effective rate. The calculator uses the standard Canadian semi-annual compounding formula.
Stress test: You must qualify at your rate + 2% or 5.25%, whichever is higher. See our stress test calculator.
Term vs. amortization: Most Canadian mortgages have a 5-year term but a 25-year amortization. You renew the rate every term.
CMHC insurance: Required if down payment is under 20%. Adds 2.8–4% to the mortgage. See our CMHC calculator.
Bi-weekly Payments Save Thousands: Switching from monthly (12 payments/year) to accelerated bi-weekly (26 half-payments/year = 13 full payments) on a $500,000 mortgage at 5.25% over 25 years saves approximately $28,000 in interest and pays off the mortgage 2.5 years earlier.
How to Reduce Your Total Mortgage Cost
Increase down payment: Every extra dollar of down payment reduces principal and interest over the life of the mortgage
Accelerated bi-weekly payments: Equivalent to making one extra payment per year
Annual lump sum prepayments: Most mortgages allow 10–20% annual prepayment without penalty
Shorter amortization: A 20-year amortization vs. 25 saves significant interest with higher monthly payments
Rate negotiation: Always negotiate — posted rates are rarely the best available
Save for Your Down Payment with KOHO
Every dollar toward your down payment reduces your mortgage and saves thousands in interest. KOHO's automatic savings tools make it effortless. Get $100 cash with code BREMO2026.