Canadian Mortgage Calculator
Find a Canadian mortgage payment (semi-annual compounding) for monthly to accelerated weekly payments, with CMHC insurance under 20% down.
Change the values and press Calculate to work out your own figures.
Enter the price, down payment, amortization and rate.
Show the working
- monthly rate = (1 + r ÷ 2)^(1/6) − 1 (semi-annual compounding)
How to use it
Enter the price, down payment, amortization and rate.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
monthly rate = (1 + r ÷ 2)^(1/6) − 1 (semi-annual compounding) accelerated biweekly = monthly payment ÷ 2, paid 26 times a year
Accelerated payments
Accelerated biweekly payments add the equivalent of one extra monthly payment a year and shorten the amortization by a few years.
Questions
What is the payment on an $800,000 home with 20% down over 25 years at 5%?
$3,722.27 a month.
Formulas
monthly rate = (1 + r ÷ 2)^(1/6) − 1 (semi-annual compounding) accelerated biweekly = monthly payment ÷ 2, paid 26 times a year
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.