The Canadian Mortgage Calculator is mainly intended for Canadian residents and uses the Canadian dollar as currency, with interest rate compounded semi-annually.
Monthly Pay: $3,722.27
Monthly
Total
Mortgage Payment
$3,722.27
$1,116,681.57
Property Tax
$200.00
$60,000.00
Home Insurance
$208.33
$62,500.00
Other Costs
$500.00
$150,000.00
Total Out-of-Pocket
$4,630.61
$1,389,181.57
House Price
$800,000.00
Loan Amount
$640,000.00
Down Payment
$160,000.00
Total of 300 Mortgage Payments
$1,116,681.57
Total Interest
$476,681.57
Mortgage Payoff Date
Sep. 2050
Amortization schedule
Month
Date
Interest
Principal
Ending Balance
1
09/2025
$2,639
$1,083
$638,917
2
10/2025
$2,635
$1,087
$637,830
3
11/2025
$2,630
$1,092
$636,738
4
12/2025
$2,626
$1,096
$635,641
5
1/2026
$2,621
$1,101
$634,540
6
2/2026
$2,617
$1,105
$633,435
7
3/2026
$2,612
$1,110
$632,325
8
4/2026
$2,608
$1,115
$631,210
9
5/2026
$2,603
$1,119
$630,091
10
6/2026
$2,598
$1,124
$628,967
11
7/2026
$2,594
$1,128
$627,839
12
8/2026
$2,589
$1,133
$626,706
End of year 1
13
9/2026
$2,584
$1,138
$625,568
14
10/2026
$2,580
$1,142
$624,425
15
11/2026
$2,575
$1,147
$623,278
16
12/2026
$2,570
$1,152
$622,126
17
1/2027
$2,566
$1,157
$620,969
18
2/2027
$2,561
$1,161
$619,808
19
3/2027
$2,556
$1,166
$618,642
20
4/2027
$2,551
$1,171
$617,471
21
5/2027
$2,546
$1,176
$616,295
22
6/2027
$2,542
$1,181
$615,114
23
7/2027
$2,537
$1,186
$613,929
24
8/2027
$2,532
$1,190
$612,738
End of year 2
25
9/2027
$2,527
$1,195
$611,543
26
10/2027
$2,522
$1,200
$610,342
27
11/2027
$2,517
$1,205
$609,137
28
12/2027
$2,512
$1,210
$607,927
29
1/2028
$2,507
$1,215
$606,712
30
2/2028
$2,502
$1,220
$605,491
31
3/2028
$2,497
$1,225
$604,266
32
4/2028
$2,492
$1,230
$603,036
33
5/2028
$2,487
$1,235
$601,800
34
6/2028
$2,482
$1,240
$600,560
35
7/2028
$2,477
$1,246
$599,314
36
8/2028
$2,472
$1,251
$598,064
End of year 3
37
9/2028
$2,466
$1,256
$596,808
38
10/2028
$2,461
$1,261
$595,547
39
11/2028
$2,456
$1,266
$594,280
40
12/2028
$2,451
$1,272
$593,009
41
1/2029
$2,446
$1,277
$591,732
42
2/2029
$2,440
$1,282
$590,450
43
3/2029
$2,435
$1,287
$589,163
44
4/2029
$2,430
$1,293
$587,870
45
5/2029
$2,424
$1,298
$586,572
46
6/2029
$2,419
$1,303
$585,269
47
7/2029
$2,414
$1,309
$583,960
48
8/2029
$2,408
$1,314
$582,646
End of year 4
49
9/2029
$2,403
$1,319
$581,327
50
10/2029
$2,397
$1,325
$580,002
51
11/2029
$2,392
$1,330
$578,671
52
12/2029
$2,386
$1,336
$577,335
53
1/2030
$2,381
$1,341
$575,994
54
2/2030
$2,375
$1,347
$574,647
55
3/2030
$2,370
$1,352
$573,295
56
4/2030
$2,364
$1,358
$571,936
57
5/2030
$2,359
$1,364
$570,573
58
6/2030
$2,353
$1,369
$569,204
59
7/2030
$2,347
$1,375
$567,829
60
8/2030
$2,342
$1,381
$566,448
End of year 5
61
9/2030
$2,336
$1,386
$565,062
62
10/2030
$2,330
$1,392
$563,670
63
11/2030
$2,325
$1,398
$562,272
64
12/2030
$2,319
$1,404
$560,868
65
1/2031
$2,313
$1,409
$559,459
66
2/2031
$2,307
$1,415
$558,044
67
3/2031
$2,301
$1,421
$556,623
68
4/2031
$2,295
$1,427
$555,196
69
5/2031
$2,290
$1,433
$553,764
70
6/2031
$2,284
$1,439
$552,325
71
7/2031
$2,278
$1,445
$550,881
72
8/2031
$2,272
$1,450
$549,430
End of year 6
73
9/2031
$2,266
$1,456
$547,974
74
10/2031
$2,260
$1,462
$546,511
75
11/2031
$2,254
$1,469
$545,043
76
12/2031
$2,248
$1,475
$543,568
77
1/2032
$2,242
$1,481
$542,087
78
2/2032
$2,236
$1,487
$540,601
79
3/2032
$2,229
$1,493
$539,108
80
4/2032
$2,223
$1,499
$537,609
81
5/2032
$2,217
$1,505
$536,103
82
6/2032
$2,211
$1,511
$534,592
83
7/2032
$2,205
$1,518
$533,074
84
8/2032
$2,198
$1,524
$531,550
End of year 7
85
9/2032
$2,192
$1,530
$530,020
86
10/2032
$2,186
$1,537
$528,484
87
11/2032
$2,179
$1,543
$526,941
88
12/2032
$2,173
$1,549
$525,392
89
1/2033
$2,167
$1,556
$523,836
90
2/2033
$2,160
$1,562
$522,274
91
3/2033
$2,154
$1,568
$520,706
92
4/2033
$2,147
$1,575
$519,131
93
5/2033
$2,141
$1,581
$517,549
94
6/2033
$2,134
$1,588
$515,961
95
7/2033
$2,128
$1,594
$514,367
96
8/2033
$2,121
$1,601
$512,766
End of year 8
97
9/2033
$2,115
$1,608
$511,158
98
10/2033
$2,108
$1,614
$509,544
99
11/2033
$2,101
$1,621
$507,923
100
12/2033
$2,095
$1,628
$506,295
101
1/2034
$2,088
$1,634
$504,661
102
2/2034
$2,081
$1,641
$503,020
103
3/2034
$2,074
$1,648
$501,372
104
4/2034
$2,068
$1,655
$499,717
105
5/2034
$2,061
$1,661
$498,056
106
6/2034
$2,054
$1,668
$496,387
107
7/2034
$2,047
$1,675
$494,712
108
8/2034
$2,040
$1,682
$493,030
End of year 9
109
9/2034
$2,033
$1,689
$491,341
110
10/2034
$2,026
$1,696
$489,645
111
11/2034
$2,019
$1,703
$487,942
112
12/2034
$2,012
$1,710
$486,232
113
1/2035
$2,005
$1,717
$484,515
114
2/2035
$1,998
$1,724
$482,791
115
3/2035
$1,991
$1,731
$481,059
116
4/2035
$1,984
$1,738
$479,321
117
5/2035
$1,977
$1,746
$477,575
118
6/2035
$1,969
$1,753
$475,823
119
7/2035
$1,962
$1,760
$474,063
120
8/2035
$1,955
$1,767
$472,295
End of year 10
121
9/2035
$1,948
$1,775
$470,521
122
10/2035
$1,940
$1,782
$468,739
123
11/2035
$1,933
$1,789
$466,950
124
12/2035
$1,926
$1,797
$465,153
125
1/2036
$1,918
$1,804
$463,349
126
2/2036
$1,911
$1,811
$461,538
127
3/2036
$1,903
$1,819
$459,719
128
4/2036
$1,896
$1,826
$457,892
129
5/2036
$1,888
$1,834
$456,058
130
6/2036
$1,881
$1,842
$454,217
131
7/2036
$1,873
$1,849
$452,368
132
8/2036
$1,866
$1,857
$450,511
End of year 11
133
9/2036
$1,858
$1,864
$448,646
134
10/2036
$1,850
$1,872
$446,774
135
11/2036
$1,842
$1,880
$444,895
136
12/2036
$1,835
$1,888
$443,007
137
1/2037
$1,827
$1,895
$441,112
138
2/2037
$1,819
$1,903
$439,208
139
3/2037
$1,811
$1,911
$437,297
140
4/2037
$1,803
$1,919
$435,379
141
5/2037
$1,795
$1,927
$433,452
142
6/2037
$1,788
$1,935
$431,517
143
7/2037
$1,780
$1,943
$429,574
144
8/2037
$1,772
$1,951
$427,624
End of year 12
145
9/2037
$1,763
$1,959
$425,665
146
10/2037
$1,755
$1,967
$423,698
147
11/2037
$1,747
$1,975
$421,723
148
12/2037
$1,739
$1,983
$419,740
149
1/2038
$1,731
$1,991
$417,748
150
2/2038
$1,723
$2,000
$415,749
151
3/2038
$1,715
$2,008
$413,741
152
4/2038
$1,706
$2,016
$411,725
153
5/2038
$1,698
$2,024
$409,701
154
6/2038
$1,690
$2,033
$407,668
155
7/2038
$1,681
$2,041
$405,627
156
8/2038
$1,673
$2,050
$403,578
End of year 13
157
9/2038
$1,664
$2,058
$401,520
158
10/2038
$1,656
$2,066
$399,453
159
11/2038
$1,647
$2,075
$397,378
160
12/2038
$1,639
$2,084
$395,295
161
1/2039
$1,630
$2,092
$393,203
162
2/2039
$1,622
$2,101
$391,102
163
3/2039
$1,613
$2,109
$388,992
164
4/2039
$1,604
$2,118
$386,874
165
5/2039
$1,595
$2,127
$384,747
166
6/2039
$1,587
$2,136
$382,612
167
7/2039
$1,578
$2,144
$380,467
168
8/2039
$1,569
$2,153
$378,314
End of year 14
169
9/2039
$1,560
$2,162
$376,152
170
10/2039
$1,551
$2,171
$373,981
171
11/2039
$1,542
$2,180
$371,801
172
12/2039
$1,533
$2,189
$369,612
173
1/2040
$1,524
$2,198
$367,414
174
2/2040
$1,515
$2,207
$365,207
175
3/2040
$1,506
$2,216
$362,991
176
4/2040
$1,497
$2,225
$360,765
177
5/2040
$1,488
$2,235
$358,531
178
6/2040
$1,479
$2,244
$356,287
179
7/2040
$1,469
$2,253
$354,034
180
8/2040
$1,460
$2,262
$351,772
End of year 15
181
9/2040
$1,451
$2,272
$349,500
182
10/2040
$1,441
$2,281
$347,219
183
11/2040
$1,432
$2,290
$344,929
184
12/2040
$1,422
$2,300
$342,629
185
1/2041
$1,413
$2,309
$340,320
186
2/2041
$1,403
$2,319
$338,001
187
3/2041
$1,394
$2,328
$335,673
188
4/2041
$1,384
$2,338
$333,335
189
5/2041
$1,375
$2,348
$330,987
190
6/2041
$1,365
$2,357
$328,630
191
7/2041
$1,355
$2,367
$326,263
192
8/2041
$1,345
$2,377
$323,886
End of year 16
193
9/2041
$1,336
$2,387
$321,499
194
10/2041
$1,326
$2,396
$319,103
195
11/2041
$1,316
$2,406
$316,697
196
12/2041
$1,306
$2,416
$314,280
197
1/2042
$1,296
$2,426
$311,854
198
2/2042
$1,286
$2,436
$309,418
199
3/2042
$1,276
$2,446
$306,972
200
4/2042
$1,266
$2,456
$304,515
201
5/2042
$1,256
$2,466
$302,049
202
6/2042
$1,246
$2,477
$299,572
203
7/2042
$1,235
$2,487
$297,085
204
8/2042
$1,225
$2,497
$294,588
End of year 17
205
9/2042
$1,215
$2,507
$292,081
206
10/2042
$1,205
$2,518
$289,563
207
11/2042
$1,194
$2,528
$287,035
208
12/2042
$1,184
$2,539
$284,496
209
1/2043
$1,173
$2,549
$281,947
210
2/2043
$1,163
$2,560
$279,388
211
3/2043
$1,152
$2,570
$276,818
212
4/2043
$1,142
$2,581
$274,237
213
5/2043
$1,131
$2,591
$271,646
214
6/2043
$1,120
$2,602
$269,044
215
7/2043
$1,110
$2,613
$266,431
216
8/2043
$1,099
$2,624
$263,807
End of year 18
217
9/2043
$1,088
$2,634
$261,173
218
10/2043
$1,077
$2,645
$258,528
219
11/2043
$1,066
$2,656
$255,872
220
12/2043
$1,055
$2,667
$253,204
221
1/2044
$1,044
$2,678
$250,526
222
2/2044
$1,033
$2,689
$247,837
223
3/2044
$1,022
$2,700
$245,137
224
4/2044
$1,011
$2,711
$242,426
225
5/2044
$1,000
$2,723
$239,703
226
6/2044
$989
$2,734
$236,969
227
7/2044
$977
$2,745
$234,224
228
8/2044
$966
$2,756
$231,468
End of year 19
229
9/2044
$955
$2,768
$228,700
230
10/2044
$943
$2,779
$225,921
231
11/2044
$932
$2,791
$223,131
232
12/2044
$920
$2,802
$220,329
233
1/2045
$909
$2,814
$217,515
234
2/2045
$897
$2,825
$214,690
235
3/2045
$885
$2,837
$211,853
236
4/2045
$874
$2,849
$209,004
237
5/2045
$862
$2,860
$206,144
238
6/2045
$850
$2,872
$203,272
239
7/2045
$838
$2,884
$200,388
240
8/2045
$826
$2,896
$197,492
End of year 20
241
9/2045
$814
$2,908
$194,584
242
10/2045
$802
$2,920
$191,664
243
11/2045
$790
$2,932
$188,732
244
12/2045
$778
$2,944
$185,788
245
1/2046
$766
$2,956
$182,832
246
2/2046
$754
$2,968
$179,864
247
3/2046
$742
$2,981
$176,883
248
4/2046
$729
$2,993
$173,890
249
5/2046
$717
$3,005
$170,885
250
6/2046
$705
$3,018
$167,868
251
7/2046
$692
$3,030
$164,838
252
8/2046
$680
$3,042
$161,795
End of year 21
253
9/2046
$667
$3,055
$158,740
254
10/2046
$655
$3,068
$155,673
255
11/2046
$642
$3,080
$152,592
256
12/2046
$629
$3,093
$149,499
257
1/2047
$617
$3,106
$146,394
258
2/2047
$604
$3,119
$143,275
259
3/2047
$591
$3,131
$140,144
260
4/2047
$578
$3,144
$136,999
261
5/2047
$565
$3,157
$133,842
262
6/2047
$552
$3,170
$130,672
263
7/2047
$539
$3,183
$127,488
264
8/2047
$526
$3,197
$124,292
End of year 22
265
9/2047
$513
$3,210
$121,082
266
10/2047
$499
$3,223
$117,859
267
11/2047
$486
$3,236
$114,623
268
12/2047
$473
$3,250
$111,373
269
1/2048
$459
$3,263
$108,110
270
2/2048
$446
$3,276
$104,834
271
3/2048
$432
$3,290
$101,544
272
4/2048
$419
$3,304
$98,240
273
5/2048
$405
$3,317
$94,923
274
6/2048
$391
$3,331
$91,592
275
7/2048
$378
$3,345
$88,248
276
8/2048
$364
$3,358
$84,890
End of year 23
277
9/2048
$350
$3,372
$81,517
278
10/2048
$336
$3,386
$78,131
279
11/2048
$322
$3,400
$74,731
280
12/2048
$308
$3,414
$71,317
281
1/2049
$294
$3,428
$67,889
282
2/2049
$280
$3,442
$64,447
283
3/2049
$266
$3,456
$60,990
284
4/2049
$252
$3,471
$57,519
285
5/2049
$237
$3,485
$54,034
286
6/2049
$223
$3,499
$50,535
287
7/2049
$208
$3,514
$47,021
288
8/2049
$194
$3,528
$43,493
End of year 24
289
9/2049
$179
$3,543
$39,950
290
10/2049
$165
$3,558
$36,392
291
11/2049
$150
$3,572
$32,820
292
12/2049
$135
$3,587
$29,233
293
1/2050
$121
$3,602
$25,631
294
2/2050
$106
$3,617
$22,015
295
3/2050
$91
$3,631
$18,383
296
4/2050
$76
$3,646
$14,737
297
5/2050
$61
$3,661
$11,075
298
6/2050
$46
$3,677
$7,399
299
7/2050
$31
$3,692
$3,707
300
8/2050
$15
$3,707
$0
End of year 25
Year
Date
Interest
Principal
Ending Balance
1
9/25-8/26
$31,373
$13,294
$626,706
2
9/26-8/27
$30,700
$13,967
$612,738
3
9/27-8/28
$29,993
$14,675
$598,064
4
9/28-8/29
$29,250
$15,417
$582,646
5
9/29-8/30
$28,469
$16,198
$566,448
6
9/30-8/31
$27,649
$17,018
$549,430
7
9/31-8/32
$26,788
$17,880
$531,550
8
9/32-8/33
$25,883
$18,785
$512,766
9
9/33-8/34
$24,932
$19,736
$493,030
10
9/34-8/35
$23,932
$20,735
$472,295
11
9/35-8/36
$22,883
$21,784
$450,511
12
9/36-8/37
$21,780
$22,887
$427,624
13
9/37-8/38
$20,621
$24,046
$403,578
14
9/38-8/39
$19,404
$25,263
$378,314
15
9/39-8/40
$18,125
$26,542
$351,772
16
9/40-8/41
$16,781
$27,886
$323,886
17
9/41-8/42
$15,370
$29,298
$294,588
18
9/42-8/43
$13,886
$30,781
$263,807
19
9/43-8/44
$12,328
$32,339
$231,468
20
9/44-8/45
$10,691
$33,976
$197,492
21
9/45-8/46
$8,971
$35,696
$161,795
22
9/46-8/47
$7,164
$37,504
$124,292
23
9/47-8/48
$5,265
$39,402
$84,890
24
9/48-8/49
$3,270
$41,397
$43,493
25
9/49-8/50
$1,175
$43,493
$0
Getting Your First Mortgage
The traditional period for amortization of a mortgage (the time to pay it off) is 25 years. But this is done in periods of five years at a time, though it is possible to pay the mortgage down in a shorter period, just not longer. The longer the amortization period, the smaller the monthly payments will be, but the more the loan will cost in total.
Most mortgages have a five year term, though shorter terms are possible. The five-year mortgage term is the amount of time a mortgage contract is in effect. At the end of each term, the mortgage must be renewed for another term, at which point there is an opportunity to consider making any changes. Possible changes include renegotiating the rate as well as other details of the contract for the next term. The agreed-upon interest rate remains in effect for the term.
It is possible to choose between an open mortgage, which provides a person the flexibility of being able to repay all or part of a mortgage at any time without a prepayment charge, or a closed mortgage, which limits prepayment options. The latter usually has a lower interest rate.
Traditionally, mortgage payments are made every month. It is possible to arrange biweekly payments which permit faster repayment and a lower loan cost. A biweekly payment means making a payment of one-half of the monthly payment every two weeks. This results in 26 payments a year instead of 24.
A mortgage allows the option of building up a cash account. As the principal is amortized, the stored funds can be used as a source to take out cash when needed, and borrowed without charge. After use, the amounts are simply added back to the mortgage principal.
There are also options for flexible or skipped payments.
Most Canadian mortgages are portable, which means that if the owner moves before the five-year term is up, they can choose to apply their old mortgage to a new home. If it's a more expensive home, it is also possible to take out a new loan for the difference.
Homeowners' Association (HOA) Fees
Homeowners' Association (HOA) fees are funds that are collected monthly from homeowners to obtain the income needed to pay for things such as master insurance, exterior and interior maintenance, landscaping, water, sewer, and garbage costs.
