CM CalcMentor Calculators that explain the answer.

Financial calculator

Canadian Mortgage Calculator

Estimate Canadian-style mortgage payments with payment frequency and optional insurance premium.

Canadian mortgage rules and insured-mortgage premiums can change. Enter the premium percentage from a current lender or insurer quote if applicable.

Method

The calculator estimates base mortgage from price minus down payment, adds an optional insurance premium, then converts the monthly amortized payment to the selected payment frequency.

Example

For a CAD 600,000 purchase with CAD 60,000 down, the base mortgage is CAD 540,000 before any insurance premium. At 5.25% over 25 years, the monthly estimate is about CAD 3,218 before taxes and other housing costs.

Common mistakes

Do not ignore payment frequency. Accelerated biweekly payments can reduce amortization faster than standard biweekly payments.

Limitations

This is not a Canadian lender approval, stress-test result or insured-mortgage quote. Provincial taxes, closing costs, qualification rates and insurer tables are not included.

References

Last reviewed: 2026-05-16

Before relying on this result

Use this calculator together with the formula, assumptions, limitations and examples on the page. If the topic involves health, tax, lending, investment, legal, safety or current-rate decisions, treat the number as an estimate and check the relevant primary source or professional guidance.

Calculator metadata last reviewed: 2026-05-14.