See your mortgage payment on any home — with CMHC insurance when you put less than 20% down, the minimum down payment for the price, and how much interest you’ll pay.
Monthly payment
$3,467.90
An estimate only — your lender’s numbers decide. Fixed-rate payments compound twice a year, as Canadian mortgages do.
Canadian fixed-rate mortgages compound interest twice a year, so the payment is a little lower than an American calculator would show. Put less than 20% down and CMHC (or another insurer) adds an insurance premium to the mortgage; at $1.5 million and up, 20% down is required.
Rates and rules checked October 2026.
5% of the first $500,000, plus 10% of the part between $500,000 and $1.5 million. Homes priced at $1.5 million or more need at least 20% down. For example, a $700,000 home needs at least $45,000 down.
When your down payment is less than 20% of the price. The premium (2.80% to 4.00% of the mortgage, plus 0.20% for a 30-year amortization) is added to your mortgage; Ontario charges 8% sales tax on it, which you pay in cash at closing.
Yes if you put 20% or more down. With less than 20% down, 30 years is available to first-time buyers and buyers of newly built homes; otherwise insured mortgages are limited to 25 years.
It pays half your monthly payment every two weeks — 26 payments a year, the same as 13 monthly payments. That extra payment each year usually cuts several years off a 25-year mortgage and saves thousands in interest.
Banks round, and some variable-rate mortgages compound monthly. This calculator uses the Canadian standard for fixed rates — interest compounded twice a year.