Mortgage Calculator
Calculate your monthly payments, interest and loan amortization
How to calculate a mortgage in Canada?
The mortgage formula is: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly rate and n is the number of payments. The standard amortization period in Canada is 25 years.
CMHC Insurance
If your down payment is less than 20%, you must pay CMHC mortgage insurance ranging from 2.8% to 4% of the borrowed amount. This premium can be added to the mortgage balance.
Provincial taxes GST/HST/QST
For a new property in Quebec: GST (5%) + QST (9.975%). In Ontario: HST (13%). In Alberta: GST (5%) only. For existing (resale) properties, taxes generally do not apply.
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Frequently asked questions
Does the calculation include CMHC insurance?
Yes, if your down payment is under 20%, the CMHC premium is automatically estimated.
Are the rates real time?
We use indicative estimates. Contact your broker for the exact current rate.
Can I simulate early repayment?
Yes — adjust the term and principal fields to see how much interest you save.
Are my results private?
Yes, no amount or personal information is ever sent to our servers.