Mortgage Payment Calculator Canada - Monthly Payment & Interest Calculator

Calculate your monthly mortgage payment in Canada. Free calculator for home loans, CMHC insurance, and total interest costs. Compare rates and amortization periods.

Calculate your monthly mortgage payment in Canada including principal, interest, and CMHC insurance costs. This free mortgage calculator helps you determine affordable home prices and compare different loan terms.

How to Use This Canadian Mortgage Payment Calculator

Our mortgage payment calculator is designed for Canadian homebuyers and helps you:

Calculate monthly payments for any home price and down payment
Estimate CMHC insurance costs for down payments under 20%
Compare amortization periods from 15 to 30 years
See total interest costs over the life of your mortgage

Understanding Canadian Mortgage Terms

Amortization Period: The total time to pay off your mortgage, typically 25 years in Canada.

CMHC Insurance: Required for down payments under 20%, protects lenders against default.

Principal: The amount you borrow from the bank to purchase your home.

Mortgage Payment Factors in Canada

Several factors affect your monthly mortgage payment:

Home purchase price and down payment amount
Mortgage interest rate (fixed vs variable)
Amortization period (longer = lower payments, more interest)
Payment frequency (monthly, bi-weekly, weekly)
CMHC insurance premiums for high-ratio mortgages

Note: Results are estimates for Canadian mortgages. CMHC insurance may be required for down payments under 20%. Property taxes, home insurance, and other costs not included. Consult a Canadian mortgage professional for accurate quotes and current rates.