Mortgage Payment Calculator Canada:
See Your Monthly Cost Instantly
Quick answer (Canada)
This calculator shows your estimated mortgage payment based on price or loan amount, amortization, rate, payment frequency, CMHC insurance if applicable, and property taxes or condo fees. Use it to compare fixed vs variable and stress test your budget.
Next steps: read our Pre-Approval Guide, plan Closing Costs, and review Payment Strategies. For the rules and duties, see the FCAC’s page on mortgage payments in Canada.
Estimate your Canadian mortgage payment with taxes and insurance in minutes. One advisor, one checklist. We compare 100+ lenders so you get a fair rate and the right term.
Purchase Price
Insured mortgages are capped at $1.5M (Dec 15, 2024). FTHB + new builds may choose up to 30-year amortizations.
Down Payment & Property Type
Payment Frequency
Interest Rate
Amortization
Home Expenses
Rental Income
Toggle on if you rent out part of your home.
Accelerated Payments & Pre-payments
Advanced Settings
$0
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Monthly Mortgage$0.00
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Home Expenses$0.00
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Other Expenses$0.00
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Rental Income$0.00
Purchase Price: $0
Down Pmt.: $0
MI: $0.00
Details
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Compare Two Scenarios
Quickly see how different down payments or rates affect your monthly payment.
Scenario B Result
Monthly Payment: $0.00
Interest Paid Over Term: $0.00
Mortgage Insurance: $0.00
Disclaimer:
The tools and features on this website provide estimates and perform calculations for illustrative purposes only. They rely on various assumptions that may not account for every individual situation. For accurate and personalized guidance, we recommend consulting with a Genesis Group mortgage expert. The Genesis Group does not guarantee the accuracy, reliability, or completeness of these tools or their calculations.
How to use this mortgage calculator
- Enter purchase price or mortgage amount, down payment, and amortization.
- Select interest rate and payment frequency. Add taxes, insurance, or condo fees if you want a fuller picture.
- Compare scenarios by changing the rate, term, or down payment to see the impact on your monthly or bi-weekly payment.
Results are educational. Lender offers vary by income, credit, debt ratios, and property details.
Common worries, clear answers
- “Will rates make this unaffordable?” We compare 100+ lenders to find a rate and term that fit your cash flow.
- “How much down do I need?” The tool handles CMHC insurance automatically when down payment is under 20%.
- “Fixed or variable?” Model both in seconds, then we advise on risk, penalties, and flexibility.
- “What about closing costs?” Use our Closing Costs Guide to avoid surprises.
Why Canadians choose Genesis Group
- 15+ years of award-winning brokerage experience
- 100+ lenders across banks, credit unions, and private funds
- One advisor, one checklist, white-glove service
- FSRA-licensed, transparent advice with no jargon
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Kirk is a class act! He helped me with my first home property mortgage and couldn’t have asked for a more professional person to deal with. Him and his team... read more
Lui Vescio Jr.
12/13/2024If getting a mortgage was an Olympic sport, these guys would take gold—blindfolded, on a unicycle, while juggling flaming swords. They made the process so smooth, I was half convinced... read more
Samantha L
09/13/2024I had a great experience with The Genesis Group. The process was smooth, with clear communication and competitive rates. Their team was responsive and helpful throughout. Highly recommend!
Breanna Bacik
09/13/2024 -
Was a great experience working with Kirk and his team. They not only helped me refinance my mortgage on my house, they also assisted me in a commercial business acquisition.... read more
Sean P.
02/21/2024From the very first meeting to the joyous moment of receiving my keys, The Genesis Group, under the astute leadership of Kirk Bryan, has been nothing short of spectacular in... read more
Rohan Germain
01/13/2024My husband and I had used Kirk and his team upon closing a deal on our home. We couldn’t be more happy with everything Kirk and Brittney have done for... read more
Laura Vescio
11/13/2024 -
The Genesis Group exceeded my expectations! Purchasing an investment can be a scary process especially during this unprecedented time. I had the pleasure of working with Kirk and his assistant... read more
S T
01/13/2023Had a great experience dealing with Brittney. Fantastic communication and really worked for me and my needs. Will never go anywhere else for my financial needs
Mark Winter
11/13/2024Could not say enough about The Genesis Group. The level of dedication, professionalism, and knowledge is unmatched. When dealing with such a big life decision like buying a house -... read more
Maria Woychyshyn
11/13/2024
Example scenario
Home price: $750,000 • Down payment: 10% ($75,000) • Mortgage amount: ~$693,750 after CMHC premium • Rate: 5.39% fixed • Amortization: 25 years • Frequency: Monthly
- Estimated payment: ~$4,139 per month
- Add property tax estimate: $350 per month → ~$4,489 all-in
- Switch to accelerated bi-weekly to reduce interest paid over time
Example only. Your rate, premium, and payment will vary by lender, product, and file details.
Ready to see your exact number?
We compare 100+ lenders and present clear, plain-language options that fit your budget.
Soft check • No impact on credit • FSRA-licensed
FAQ about mortgage payments in Canada
How do I calculate my mortgage payment in Canada?
Your payment depends on mortgage amount, interest rate, amortization, and payment frequency. Our calculator handles CMHC insurance when down payment is under 20% and lets you add taxes or condo fees for a fuller monthly view.
What is a good mortgage payment frequency?
Monthly is simple for budgeting. Accelerated bi-weekly or weekly can lower total interest over time. Use the calculator to compare cost and amortization impact before you lock in.
Do I need CMHC mortgage insurance?
If your down payment is under 20% on an owner-occupied home, you will likely need mortgage default insurance from CMHC, Sagen, or Canada Guaranty. The premium is added to your mortgage and is reflected in the calculator when you set your down payment.
Fixed vs variable rate — which should I choose?
Fixed gives payment certainty. Variable can be lower at times but your payment or amortization may change as prime moves. We compare 100+ lenders and model penalties, portability, and prepayment options before you decide.
How much should I budget for closing costs in Canada?
Plan for appraisal, legal, title insurance, and provincial land transfer tax where applicable. See our Closing Costs Guide to estimate your total before you write an offer.
🔗 Trusted Mortgage Resources in Canada
✅ Government of Canada – CMHC Mortgage Rules
✅ Canada Mortgage Stress Test Guidelines
