Your exact payment using Canadian semi-annual compounding (US calculators get this wrong), every payment frequency, CMHC insurance when you put less than 20% down, and a year-by-year amortization schedule.
| Year | Payments | Principal paid | Interest paid | Balance |
|---|
Canadian fixed mortgage rates compound semi-annually, not monthly. That makes the effective monthly rate slightly lower than the US formula, so the same home, rate, and term produces a slightly different payment. Every calculation on this page uses the Canadian formula: periodic rate = (1 + rate ÷ 2)2 ÷ payments per year − 1.
Put less than 20% down and your mortgage must be insured (CMHC, Sagen, or Canada Guaranty). The premium — 0.60% to 4.00% of the loan depending on your down payment — is usually added to your mortgage, so you pay interest on it too. In Ontario you also owe 8% PST on the premium, payable in cash at closing; it can't be rolled into the mortgage.
How much home you can afford on your salary — GDS/TDS limits, qualified at the stress-test rate like a lender does.
Open calculator →Your qualifying rate, the payment you're actually tested on, and a clear pass/fail under the federal B-20 rules.
Open calculator →Rent or buy in the GTA? The true net cost of each — land transfer tax and CMHC included — over your time horizon.
Open calculator →Ontario + Toronto land transfer tax, first-time buyer rebates, minimum down payment and CMHC premium in one estimate.
Open calculator →