Mortgage payment calculator
Monthly payment, CMHC insurance and minimum down payment, worked out the Canadian way.
How this works
Canadian fixed-rate mortgages compound twice a year, not monthly, so payments are slightly lower than a US calculator shows. With less than 20% down you need mortgage default insurance; the premium depends on how much you borrow against the price (from 0.60% up to 4.00%) and is added to your mortgage. A 30-year amortization with insurance adds 0.20% and is open to first-time buyers and new builds. Insured mortgages are available on homes under $1.5 million.
Minimum down payment: 5% of the first $500,000, 10% of the part from $500,000 to $1.5 million, and 20% of the whole price at $1.5 million or more.
Estimates only, for planning. Rates and rules as published by the Government of Ontario, the City of Toronto, CMHC, FCAC and OSFI, checked October 2026. Your lender, mortgage broker and real estate lawyer will confirm the real numbers. Place Your Own Real Estate Ad Here Inc., Brokerage does not give mortgage or tax advice.