Canada Mortgage Calculator

Calculate mortgage affordability, monthly payment, total interest, and full ownership cost with taxes and insurance. Optimized for Canada and tuned for global marketscenarios.

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Global Mortgage Calculator

Estimate monthly mortgage payments including principal, interest, tax, and insurance with region-aware defaults.

Home Price

Down Payment

Interest Rate (% p.a.)

Loan Term (years)

Annual Property Tax

Annual Insurance

Estimated Monthly Payment

$3,234

Region assumptions: Canada (CAD)

Loan Amount

$400,000

Principal + Interest

$2,634

Tax + Insurance

$600

Total Interest

$548,384

Scenario insights

Down payment ratio: 20%
Loan term: 30 years (360 months)

Worked Example

Example: Home price $500,000, down payment $100,000, 6.9% for 30 years gives a principal+interest payment close to $2,634/month.

Modeling Assumptions

• Fixed-rate amortizing mortgage
• Monthly repayment schedule
• Taxes and insurance treated as annual estimates

Source Inputs

• Bank and lender pricing pages
• Central bank benchmark rates

Last updated: 2026-04-15 · Review assumptions before financial decisions.

Frequently Asked Questions

What does a mortgage payment include?

Mortgage payments usually include principal and interest, and may include property tax and home insurance. This calculator shows all these components together for clearer cashflow planning.

How much down payment should I put?

A higher down payment reduces monthly payment and total interest, but you should still keep emergency reserves. Many borrowers optimize down payment vs liquidity rather than maximizing it.

Does a shorter tenure always save money?

Yes, shorter tenure usually lowers total interest significantly, but monthly payments increase. You should balance affordability and interest savings.

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