Canadian Mortgage Calculator

Calculate your mortgage payments including CMHC insurance for Canadian properties

Mortgage Details

First Time Home Buyer?

Home Price$500,000

$100K$2M

Down Payment

$50,000(10.0%)

Min: $25,000 (5.0%)50%

Interest Rate

5.50%

0.5%12%

Amortization Period25 years

5 years25 years

Insured mortgages (under 20% down) are limited to 25 years. Check "First Time Home Buyer" above to access 30-year amortization.

Payment Frequency

CMHC Mortgage Insurance

Required when down payment is less than 20%

Your Down Payment10.0%

Insurance Rate3.10%

CMHC Premium$13,950

CMHC Premium Rates

5% - 9.99%

4.00%

10% - 14.99%

3.10%

15% - 19.99%

2.80%

The CMHC premium is added to your mortgage principal and will be included in your regular payments. Maximum amortization with CMHC insurance is 25 years.

Payment Summary

Monthly Payment

$2,849.06

12 payments/year

Monthly Equivalent

$2,849.06

For comparison

Total Interest

$390,768

Over 25 years

Total Cost

$904,718

Including down payment

Mortgage Breakdown

Home Price$500,000

Down Payment- $50,000

Principal Amount$450,000

CMHC Premium (3.1%)+ $13,950

Total Mortgage$463,950

This calculator provides estimates for informational purposes only. Actual mortgage payments may vary based on your lender's terms, property taxes, home insurance, and other factors. CMHC insurance rates are subject to change. Please consult with a mortgage professional for accurate quotes.