Mortgage Calculator Canada

Estimate a monthly Canadian mortgage payment from home price, down payment, rate, and amortization. The tool subtracts your down payment, estimates mortgage insurance when applicable, and converts the remaining loan into a payment schedule using the rate, amortization, and frequency you select. It also separates principal, insurance, and estimated lifetime interest in the result rows.

With the values entered, the calculator estimates estimated monthly payment of $3,508. This scenario uses home price of $650,000, down payment of $65,000, mortgage rate of 5%, and amortization of 25 years. The supporting results show mortgage amount of $603,135 and base loan of $585,000, which makes the main drivers easier to compare. This is a simplified mortgage payment estimate before property tax, insurance, utilities, and condo fees. Use the payment and lifetime interest together; a lower payment can cost much more over a longer amortization. Add the missing ownership costs to your monthly budget and test a higher renewal rate before treating the payment as affordable.