Canadian Mortgage Calculator
Calculate your Canadian mortgage payment using the semi-annual compounding rate lenders quote, with total interest in dollars.
Monthly payment
C$2,326.42
Total payment
C$697,926
Total interest
C$297,926
Interest share
43%
Canadian mortgages compound interest semi-annually, which is why the effective monthly rate differs slightly from the quoted annual rate.
How it works
Effective rate = (1 + quoted ÷ 2)² − 1 (semi-annual compounding). Payment adjusted by frequency; accelerated schedules add one extra payment per year.
Example: C$400,000 at 5% over 25 years → ~C$2,324/month at 5% (accelerated bi-weekly pays off years earlier).
Canadian Mortgage Calculator on True Calculator gives you an instant, accurate answer with no sign-up and no app install. Calculate your Canadian mortgage payment using the semi-annual compounding rate lenders quote, with total interest in dollars. Every result shows the formula and a worked example so you can verify the calculation yourself, and all values are computed in your own browser — your numbers never leave your device.
Popular uses: canadian mortgage calculator · mortgage calculator canada · canada mortgage payment calculator
Last updated: August 2026
How We Calculate
This calculator uses standard mathematical formulas verified by our team. All calculations are performed instantly in your browser using JavaScript — no data is sent to any server. The formulas used are industry-standard and match those used by banks, financial institutions and health organizations.
For financial calculators, we use RBI-approved formulas and regularly updated bank rates. For health calculators, we use WHO-recommended formulas and medical standards. All rates and standards are sourced from official government and regulatory websites.
Frequently Asked Questions
Why do Canadian mortgage rates need compounding?
In Canada, fixed mortgages are quoted semi-annually compounded. The calculator converts your quoted rate to an effective rate before computing payments, which is why results differ from US-style calculators.
What is the stress test for a Canadian mortgage?
Canadian regulations require you to qualify at the greater of your contract rate plus 2% or the posted rate. Use this calculator with the higher rate to check if you still qualify.
How does a 25-year amortization affect my payments?
A 25-year amortization is the most common in Canada — it balances lower monthly payments against the total interest you pay over the life of the mortgage.
What payment frequency should I choose in Canada?
Accelerated weekly or bi-weekly payments make the equivalent of one extra monthly payment each year, cutting years off your amortization and saving thousands in interest.
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