Canada Mortgage Calculator
Calculate your Canadian mortgage payment online for free, correctly using semi-annual compounding as required by Canadian law. Runs entirely in your browser — nothing you enter is uploaded.
Canadian mortgages are compounded semi-annually by law (unlike US mortgages, which compound monthly) — this calculator converts your quoted annual rate to an effective monthly rate correctly, per the Interest Act.
How to use canada mortgage calculator
- Enter the home price, down payment, rate and amortization
Standard Canadian mortgage terms.
- Calculate
See your monthly payment, correctly using semi-annual compounding.
Features
Rates and thresholds are inputs you can change, not hidden constants.
Calculates locally with no sign-up or server request.
Your financial details are never uploaded.
Supported formats and limitations
Text and structured input supported by this tool.
Use cases include personal workflows, content preparation, and quick checks. Review output before relying on it for legal, financial, accessibility, or production decisions.
Frequently asked questions
Why does compounding frequency matter?
Semi-annual compounding produces a slightly lower effective monthly payment than the same nominal rate compounded monthly (the US convention) — using the wrong convention understates or overstates the true payment, so this calculator uses the legally-mandated Canadian method.
Does this include mortgage default insurance (CMHC)?
No — if your down payment is under 20%, CMHC or another insurer's premium typically applies and is usually added to the mortgage principal; add that separately.