Embeddable calculator

Canadian Mortgage Payment Calculator

Estimate payments, mortgage insurance, stress-test rate, and monthly carrying cost using Canadian assumptions.

Estimate details

Default scenario loaded. Adjust the assumptions below to match the property, client, or decision.

Preloaded scenarios

Tap a scenario to preload realistic assumptions, then tune the numbers for the specific property or client.

Estimate generated

Monthly payment

$3,964.74

Estimated monthly carrying cost

$4,804.74

Mortgage insurance estimate

$20,925.00

Stress-test qualifying rate

6.79%

Decision brief

Monthly payment: $3,964.74

Next action

Compare the stress-tested payment with your actual budget.

Review items

Sources

Monthly carrying cost breakdown

Cost item	Monthly amount	Share of total
Mortgage payment	$3,965	82.5%
Property tax	$375	7.8%
Condo fees	$0	0.0%
Utilities	$325	6.8%
Insurance	$140	2.9%

Rate sensitivity

Rate scenario	Rate	Monthly payment	Monthly carrying cost
Entered rate	4.79%	$3,965	$4,805
Stress-test rate	6.79%	$4,784	$5,624
Rate + 1.00%	5.79%	$4,366	$5,206

Principal balance milestones

Milestone	Estimated balance	Principal paid
Year 1	$681,034	$14,891
Year 3	$649,052	$46,873
Year 5	$613,894	$82,031

Key assumptions

Canadian mortgage payment uses semi-annual compounding converted to the selected payment frequency.
Property tax, insurance, utilities, and condo fees are user-entered planning assumptions.
Mortgage insurance premium is added to the mortgage when required; provincial tax on premium is flagged but not calculated in this MVP.

Suggested next steps

Compare the stress-tested payment with your actual budget.
Ask a lender or mortgage broker to confirm insurance, rate, and approval details.
Run the closing cost calculator to estimate cash needed beyond the down payment.

Formula used

Base loan = purchase price - down payment.
Insured mortgage amount = base loan + estimated mortgage insurance premium.
Periodic payment = P * r(1+r)^n / ((1+r)^n - 1), using Canadian semi-annual compounding.
Monthly carrying cost = monthly equivalent mortgage payment + property tax + condo fees + utilities + insurance.

Sources and data freshness

Canada Mortgage and Housing Corporationverified

Effective 2018-03-31 · Last reviewed 2026-05-27

Premium rates were verified against the CMHC consumer premium table. Admin should re-verify when CMHC updates mortgage insurance products.

Office of the Superintendent of Financial Institutionsverified

Effective 2021-06-01 · Last reviewed 2026-05-27

RealEstateTools.ca provides educational estimates only. Results are not legal, financial, tax, mortgage, appraisal, accounting, or investment advice. Confirm all numbers with qualified professionals.

Canadian Mortgage Payment Calculator

Estimate details

Purchase scenario