Calculate your monthly mortgage payment, total interest, CMHC insurance, and a full amortization schedule.
| Year | Annual Payment | Principal | Interest | Balance Remaining |
|---|
Approximate rates as of March 2026. Shop around — rates vary by lender, insured status, and province.
| Mortgage Type | Typical Rate | Best Rate Available |
|---|---|---|
| 5-Year Fixed (insured) | 4.89–5.29% | ~4.54% |
| 5-Year Fixed (conventional) | 5.14–5.64% | ~4.89% |
| 3-Year Fixed | 4.99–5.49% | ~4.69% |
| 1-Year Fixed | 5.49–5.99% | ~5.19% |
| Variable (5-yr) | 5.20–5.70% | ~5.00% |
| HELOC Prime Rate | ~6.70% | Prime rate |
Rates are estimates. Always compare multiple lenders and use a mortgage broker for the best rate.
| Down Payment | CMHC Premium | On $500K Mortgage |
|---|---|---|
| 5–9.99% | 4.00% | $20,000 |
| 10–14.99% | 3.10% | $15,500 |
| 15–19.99% | 2.80% | $14,000 |
| 20%+ | Not required | $0 |
CMHC premium is added to your mortgage and paid over the amortization period. Max purchase price for insured mortgage: $1,499,999.
Use an FHSA + KOHO to accelerate your down payment savings. Tax deductions, tax-free growth, and $100 bonus.
Get $100 With KOHO →Monthly payment = P × [r(1+r)^n] / [(1+r)^n - 1], where P = principal, r = monthly interest rate, n = number of payments. In Canada, mortgage interest is compounded semi-annually (not monthly), so the effective monthly rate is (1 + annual_rate/2)^(1/6) - 1.
5% for homes under $500,000. For $500K–$999,999: 5% on first $500K + 10% on remainder. For $1M–$1.49M: 20% minimum (insured limit). Over $1.5M: not eligible for CMHC insurance — 20% minimum down payment required.
Fixed rates offer payment certainty — you know exactly what you'll pay for the term. Variable rates fluctuate with the Bank of Canada prime rate — historically lower on average but riskier. Current rates as of 2026 make fixed rates competitive; consult a mortgage broker for personalized advice.
For insured mortgages (under 20% down): maximum 30 years (increased from 25 in 2024 for first-time buyers on new builds). For conventional mortgages (20%+ down): maximum 30 years. Longer amortization = lower monthly payment but much more total interest paid.
Yes. You can use KOHO's savings goals feature to set aside money for a down payment while earning 3% interest. Better yet, open an FHSA account — get a tax deduction on contributions and tax-free withdrawal for your first home purchase.