Mortgage payment calculator
Estimate your payment, minimum down payment and mortgage default insurance using Canadian semi-annual compounding.
$750,000
10% · $75,000
Minimum down payment at this price is $50,000 (6.7%).
4.49%
Estimated monthly payment
$3,848
| Down payment | $75,000 |
| Default insurance (CMHC) | $20,925 |
| Total mortgage | $695,925 |
| Interest over 25 years | $458,442 |
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Minimum down payment in Canada
5% of the first $500,000, then 10% of the portion up to $1.5M. Homes at $1.5M or more need 20% down.
Mortgage default insurance
Required with less than 20% down. The premium (2.8%–4.0% of the loan here) is added to your mortgage.
Why Canadian math differs
Fixed-rate mortgages in Canada compound semi-annually, not monthly — this calculator uses that convention.
Estimates only. Excludes taxes, fees and insurance surcharges. Not a mortgage offer.