Canadian Mortgage Calculator

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

Your Mortgage Details

⚠️ CMHC insurance applies — 4.00% premium. Your down payment is under 20%, so CMHC mortgage default insurance is required. The premium will be added to your mortgage and included in your payment calculation below.

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 Default Insurance

If your down payment is less than 20% of the purchase price, CMHC mortgage default insurance is required by Canadian law. The premium (2.80%–4.00% of the mortgage amount) is added to your mortgage balance and factored into every payment shown above.