Down payment
For homes below $1.5 million, the minimum is 5% of the first $500,000 and 10% of the portion above $500,000. Homes at $1.5 million or more require at least 20% for this estimate.
A practical Canada home-buying tool
Canadian Mortgage Calculator
Estimate your payment, mortgage insurance and total interest. No account needed, and your entries stay in your browser.
Your home and mortgage
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Enter a rate to estimate with. This is not a live or guaranteed offer.
30-year insured mortgage eligibility
Select either option that applies. At least one is required for an insured 30-year mortgage.
Estimated payment
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per month
Down payment$0
Mortgage before insurance$0
Estimated insurance premium$0
Total financed amount$0
Estimated cost over the full amortization
Principal$0
Insurance premium$0
Interest (rate unchanged)$0
This is an estimate, not a mortgage approval or lender quote. Your actual payment may differ. Property taxes, condo fees, utilities, closing costs, and any provincial tax on an insurance premium are excluded.
Mortgage insurance
Mortgage default insurance is generally required when your down payment is below 20%. It protects the lender. The premium can usually be added to the mortgage, but provincial premium taxes cannot.
Amortization
Amortization is the estimated time needed to repay the mortgage. A longer period lowers each payment but usually increases total interest. Insured 30-year mortgages require an eligible first-time buyer or a new build.
Payment frequency
Monthly, biweekly and weekly options spread repayment across 12, 26 or 52 payments per year. These are regular—not accelerated—payment schedules.