Canadian Mortgage Calculator

Calculate your mortgage payments, total interest paid, and full amortization schedule. Built for Canadian mortgages with semi-annual compounding.

Your Mortgage Details

⚠️ CMHC mortgage insurance required. A down payment under 20% requires CMHC default insurance. This calculator shows your base mortgage payment only.

Maximum 25 years for insured mortgages (down payment < 20%).

Payment Frequency
🇨🇦 Canadian mortgage compounding Canadian mortgages compound semi-annually by law, not monthly like US mortgages. This calculator uses the correct Canadian formula.

Your Results

Enter your mortgage details and click Calculate Mortgage to see your results.

How the Canadian Mortgage Calculator Works

Semi-Annual Compounding

Canadian mortgages are legally required to compound semi-annually (twice per year), unlike American mortgages which compound monthly. Our calculator uses the correct Canadian equivalent rate formula to give you accurate results.

Accelerated Bi-Weekly Payments

Accelerated bi-weekly payments are calculated as half your monthly payment, paid every two weeks. This results in one extra monthly payment per year, which can save you thousands in interest and shorten your amortization by years.

CMHC Mortgage Insurance

If your down payment is less than 20% of the purchase price, CMHC mortgage default insurance is required. The premium ranges from 2.80% to 4.00% of the mortgage amount and is typically added to your mortgage balance.