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: $4,652.84
Monthly
Total
Mortgage Payment
$4,652.84
$1,395,851.96
Property Tax
$250.00
$75,000.00
Home Insurance
$208.33
$62,500.00
Other Costs
$500.00
$150,000.00
Total Out-of-Pocket
$5,611.17
$1,683,351.96
House Price
$1,000,000.00
Loan Amount
$800,000.00
Down Payment
$200,000.00
Total of 300 Mortgage Payments
$1,395,851.96
Total Interest
$595,851.96
Mortgage Payoff Date
Aug. 2050
Amortization schedule
Month
Date
Interest
Principal
Ending Balance
1
08/2025
$3,299
$1,354
$798,646
2
9/2025
$3,294
$1,359
$797,287
3
10/2025
$3,288
$1,365
$795,922
4
11/2025
$3,282
$1,371
$794,552
5
12/2025
$3,277
$1,376
$793,175
6
1/2026
$3,271
$1,382
$791,794
7
2/2026
$3,265
$1,388
$790,406
8
3/2026
$3,260
$1,393
$789,013
9
4/2026
$3,254
$1,399
$787,614
10
5/2026
$3,248
$1,405
$786,209
11
6/2026
$3,242
$1,411
$784,798
12
7/2026
$3,236
$1,416
$783,382
End of year 1
13
8/2026
$3,231
$1,422
$781,960
14
9/2026
$3,225
$1,428
$780,532
15
10/2026
$3,219
$1,434
$779,098
16
11/2026
$3,213
$1,440
$777,658
17
12/2026
$3,207
$1,446
$776,212
18
1/2027
$3,201
$1,452
$774,760
19
2/2027
$3,195
$1,458
$773,302
20
3/2027
$3,189
$1,464
$771,838
21
4/2027
$3,183
$1,470
$770,369
22
5/2027
$3,177
$1,476
$768,893
23
6/2027
$3,171
$1,482
$767,411
24
7/2027
$3,165
$1,488
$765,923
End of year 2
25
8/2027
$3,159
$1,494
$764,428
26
9/2027
$3,152
$1,500
$762,928
27
10/2027
$3,146
$1,507
$761,421
28
11/2027
$3,140
$1,513
$759,909
29
12/2027
$3,134
$1,519
$758,390
30
1/2028
$3,128
$1,525
$756,864
31
2/2028
$3,121
$1,532
$755,333
32
3/2028
$3,115
$1,538
$753,795
33
4/2028
$3,109
$1,544
$752,250
34
5/2028
$3,102
$1,551
$750,700
35
6/2028
$3,096
$1,557
$749,143
36
7/2028
$3,089
$1,563
$747,579
End of year 3
37
8/2028
$3,083
$1,570
$746,010
38
9/2028
$3,076
$1,576
$744,433
39
10/2028
$3,070
$1,583
$742,850
40
11/2028
$3,063
$1,589
$741,261
41
12/2028
$3,057
$1,596
$739,665
42
1/2029
$3,050
$1,603
$738,062
43
2/2029
$3,044
$1,609
$736,453
44
3/2029
$3,037
$1,616
$734,838
45
4/2029
$3,030
$1,622
$733,215
46
5/2029
$3,024
$1,629
$731,586
47
6/2029
$3,017
$1,636
$729,950
48
7/2029
$3,010
$1,643
$728,308
End of year 4
49
8/2029
$3,003
$1,649
$726,658
50
9/2029
$2,997
$1,656
$725,002
51
10/2029
$2,990
$1,663
$723,339
52
11/2029
$2,983
$1,670
$721,669
53
12/2029
$2,976
$1,677
$719,992
54
1/2030
$2,969
$1,684
$718,309
55
2/2030
$2,962
$1,691
$716,618
56
3/2030
$2,955
$1,698
$714,921
57
4/2030
$2,948
$1,705
$713,216
58
5/2030
$2,941
$1,712
$711,504
59
6/2030
$2,934
$1,719
$709,786
60
7/2030
$2,927
$1,726
$708,060
End of year 5
61
8/2030
$2,920
$1,733
$706,327
62
9/2030
$2,913
$1,740
$704,587
63
10/2030
$2,906
$1,747
$702,840
64
11/2030
$2,898
$1,754
$701,086
65
12/2030
$2,891
$1,762
$699,324
66
1/2031
$2,884
$1,769
$697,555
67
2/2031
$2,877
$1,776
$695,779
68
3/2031
$2,869
$1,784
$693,995
69
4/2031
$2,862
$1,791
$692,205
70
5/2031
$2,855
$1,798
$690,406
71
6/2031
$2,847
$1,806
$688,601
72
7/2031
$2,840
$1,813
$686,788
End of year 6
73
8/2031
$2,832
$1,821
$684,967
74
9/2031
$2,825
$1,828
$683,139
75
10/2031
$2,817
$1,836
$681,303
76
11/2031
$2,810
$1,843
$679,460
77
12/2031
$2,802
$1,851
$677,609
78
1/2032
$2,794
$1,858
$675,751
79
2/2032
$2,787
$1,866
$673,885
80
3/2032
$2,779
$1,874
$672,011
81
4/2032
$2,771
$1,882
$670,129
82
5/2032
$2,764
$1,889
$668,240
83
6/2032
$2,756
$1,897
$666,343
84
7/2032
$2,748
$1,905
$664,438
End of year 7
85
8/2032
$2,740
$1,913
$662,525
86
9/2032
$2,732
$1,921
$660,605
87
10/2032
$2,724
$1,929
$658,676
88
11/2032
$2,716
$1,937
$656,740
89
12/2032
$2,708
$1,945
$654,795
90
1/2033
$2,700
$1,953
$652,843
91
2/2033
$2,692
$1,961
$650,882
92
3/2033
$2,684
$1,969
$648,913
93
4/2033
$2,676
$1,977
$646,937
94
5/2033
$2,668
$1,985
$644,952
95
6/2033
$2,660
$1,993
$642,959
96
7/2033
$2,652
$2,001
$640,957
End of year 8
97
8/2033
$2,643
$2,010
$638,948
98
9/2033
$2,635
$2,018
$636,930
99
10/2033
$2,627
$2,026
$634,904
100
11/2033
$2,618
$2,035
$632,869
101
12/2033
$2,610
$2,043
$630,826
102
1/2034
$2,601
$2,051
$628,775
103
2/2034
$2,593
$2,060
$626,715
104
3/2034
$2,585
$2,068
$624,647
105
4/2034
$2,576
$2,077
$622,570
106
5/2034
$2,567
$2,085
$620,484
107
6/2034
$2,559
$2,094
$618,390
108
7/2034
$2,550
$2,103
$616,288
End of year 9
109
8/2034
$2,542
$2,111
$614,176
110
9/2034
$2,533
$2,120
$612,056
111
10/2034
$2,524
$2,129
$609,928
112
11/2034
$2,515
$2,138
$607,790
113
12/2034
$2,506
$2,146
$605,644
114
1/2035
$2,498
$2,155
$603,488
115
2/2035
$2,489
$2,164
$601,324
116
3/2035
$2,480
$2,173
$599,151
117
4/2035
$2,471
$2,182
$596,969
118
5/2035
$2,462
$2,191
$594,778
119
6/2035
$2,453
$2,200
$592,578
120
7/2035
$2,444
$2,209
$590,369
End of year 10
121
8/2035
$2,435
$2,218
$588,151
122
9/2035
$2,425
$2,227
$585,924
123
10/2035
$2,416
$2,237
$583,687
124
11/2035
$2,407
$2,246
$581,441
125
12/2035
$2,398
$2,255
$579,186
126
1/2036
$2,389
$2,264
$576,922
127
2/2036
$2,379
$2,274
$574,648
128
3/2036
$2,370
$2,283
$572,365
129
4/2036
$2,360
$2,292
$570,073
130
5/2036
$2,351
$2,302
$567,771
131
6/2036
$2,341
$2,311
$565,459
132
7/2036
$2,332
$2,321
$563,139
End of year 11
133
8/2036
$2,322
$2,331
$560,808
134
9/2036
$2,313
$2,340
$558,468
135
10/2036
$2,303
$2,350
$556,118
136
11/2036
$2,293
$2,359
$553,759
137
12/2036
$2,284
$2,369
$551,390
138
1/2037
$2,274
$2,379
$549,011
139
2/2037
$2,264
$2,389
$546,622
140
3/2037
$2,254
$2,399
$544,223
141
4/2037
$2,244
$2,409
$541,815
142
5/2037
$2,234
$2,418
$539,396
143
6/2037
$2,224
$2,428
$536,968
144
7/2037
$2,214
$2,438
$534,529
End of year 12
145
8/2037
$2,204
$2,448
$532,081
146
9/2037
$2,194
$2,459
$529,622
147
10/2037
$2,184
$2,469
$527,154
148
11/2037
$2,174
$2,479
$524,675
149
12/2037
$2,164
$2,489
$522,186
150
1/2038
$2,153
$2,499
$519,686
151
2/2038
$2,143
$2,510
$517,176
152
3/2038
$2,133
$2,520
$514,656
153
4/2038
$2,122
$2,530
$512,126
154
5/2038
$2,112
$2,541
$509,585
155
6/2038
$2,101
$2,551
$507,034
156
7/2038
$2,091
$2,562
$504,472
End of year 13
157
8/2038
$2,080
$2,572
$501,899
158
9/2038
$2,070
$2,583
$499,316
159
10/2038
$2,059
$2,594
$496,723
160
11/2038
$2,048
$2,604
$494,118
161
12/2038
$2,038
$2,615
$491,503
162
1/2039
$2,027
$2,626
$488,877
163
2/2039
$2,016
$2,637
$486,240
164
3/2039
$2,005
$2,648
$483,593
165
4/2039
$1,994
$2,659
$480,934
166
5/2039
$1,983
$2,670
$478,265
167
6/2039
$1,972
$2,681
$475,584
168
7/2039
$1,961
$2,692
$472,893
End of year 14
169
8/2039
$1,950
$2,703
$470,190
170
9/2039
$1,939
$2,714
$467,476
171
10/2039
$1,928
$2,725
$464,751
172
11/2039
$1,917
$2,736
$462,015
173
12/2039
$1,905
$2,748
$459,267
174
1/2040
$1,894
$2,759
$456,509
175
2/2040
$1,883
$2,770
$453,738
176
3/2040
$1,871
$2,782
$450,957
177
4/2040
$1,860
$2,793
$448,164
178
5/2040
$1,848
$2,805
$445,359
179
6/2040
$1,837
$2,816
$442,543
180
7/2040
$1,825
$2,828
$439,715
End of year 15
181
8/2040
$1,813
$2,839
$436,875
182
9/2040
$1,802
$2,851
$434,024
183
10/2040
$1,790
$2,863
$431,161
184
11/2040
$1,778
$2,875
$428,286
185
12/2040
$1,766
$2,887
$425,400
186
1/2041
$1,754
$2,899
$422,501
187
2/2041
$1,742
$2,910
$419,591
188
3/2041
$1,730
$2,922
$416,668
189
4/2041
$1,718
$2,935
$413,734
190
5/2041
$1,706
$2,947
$410,787
191
6/2041
$1,694
$2,959
$407,828
192
7/2041
$1,682
$2,971
$404,857
End of year 16
193
8/2041
$1,670
$2,983
$401,874
194
9/2041
$1,657
$2,996
$398,879
195
10/2041
$1,645
$3,008
$395,871
196
11/2041
$1,633
$3,020
$392,850
197
12/2041
$1,620
$3,033
$389,818
198
1/2042
$1,608
$3,045
$386,772
199
2/2042
$1,595
$3,058
$383,715
200
3/2042
$1,582
$3,070
$380,644
201
4/2042
$1,570
$3,083
$377,561
202
5/2042
$1,557
$3,096
$374,465
203
6/2042
$1,544
$3,109
$371,357
204
7/2042
$1,531
$3,121
$368,235
End of year 17
205
8/2042
$1,519
$3,134
$365,101
206
9/2042
$1,506
$3,147
$361,954
207
10/2042
$1,493
$3,160
$358,794
208
11/2042
$1,480
$3,173
$355,620
209
12/2042
$1,467
$3,186
$352,434
210
1/2043
$1,453
$3,199
$349,235
211
2/2043
$1,440
$3,213
$346,022
212
3/2043
$1,427
$3,226
$342,796
213
4/2043
$1,414
$3,239
$339,557
214
5/2043
$1,400
$3,253
$336,304
215
6/2043
$1,387
$3,266
$333,038
216
7/2043
$1,373
$3,279
$329,759
End of year 18
217
8/2043
$1,360
$3,293
$326,466
218
9/2043
$1,346
$3,307
$323,160
219
10/2043
$1,333
$3,320
$319,839
220
11/2043
$1,319
$3,334
$316,506
221
12/2043
$1,305
$3,348
$313,158
222
1/2044
$1,291
$3,361
$309,797
223
2/2044
$1,278
$3,375
$306,421
224
3/2044
$1,264
$3,389
$303,032
225
4/2044
$1,250
$3,403
$299,629
226
5/2044
$1,236
$3,417
$296,212
227
6/2044
$1,222
$3,431
$292,781
228
7/2044
$1,207
$3,445
$289,335
End of year 19
229
8/2044
$1,193
$3,460
$285,875
230
9/2044
$1,179
$3,474
$282,402
231
10/2044
$1,165
$3,488
$278,913
232
11/2044
$1,150
$3,503
$275,411
233
12/2044
$1,136
$3,517
$271,894
234
1/2045
$1,121
$3,532
$268,362
235
2/2045
$1,107
$3,546
$264,816
236
3/2045
$1,092
$3,561
$261,255
237
4/2045
$1,077
$3,575
$257,680
238
5/2045
$1,063
$3,590
$254,089
239
6/2045
$1,048
$3,605
$250,484
240
7/2045
$1,033
$3,620
$246,865
End of year 20
241
8/2045
$1,018
$3,635
$243,230
242
9/2045
$1,003
$3,650
$239,580
243
10/2045
$988
$3,665
$235,915
244
11/2045
$973
$3,680
$232,235
245
12/2045
$958
$3,695
$228,540
246
1/2046
$942
$3,710
$224,830
247
2/2046
$927
$3,726
$221,104
248
3/2046
$912
$3,741
$217,363
249
4/2046
$896
$3,756
$213,607
250
5/2046
$881
$3,772
$209,835
251
6/2046
$865
$3,787
$206,047
252
7/2046
$850
$3,803
$202,244
End of year 21
253
8/2046
$834
$3,819
$198,425
254
9/2046
$818
$3,835
$194,591
255
10/2046
$802
$3,850
$190,740
256
11/2046
$787
$3,866
$186,874
257
12/2046
$771
$3,882
$182,992
258
1/2047
$755
$3,898
$179,094
259
2/2047
$739
$3,914
$175,179
260
3/2047
$722
$3,930
$171,249
261
4/2047
$706
$3,947
$167,302
262
5/2047
$690
$3,963
$163,340
263
6/2047
$674
$3,979
$159,360
264
7/2047
$657
$3,996
$155,365
End of year 22
265
8/2047
$641
$4,012
$151,353
266
9/2047
$624
$4,029
$147,324
267
10/2047
$608
$4,045
$143,279
268
11/2047
$591
$4,062
$139,217
269
12/2047
$574
$4,079
$135,138
270
1/2048
$557
$4,096
$131,042
271
2/2048
$540
$4,112
$126,930
272
3/2048
$523
$4,129
$122,800
273
4/2048
$506
$4,146
$118,654
274
5/2048
$489
$4,164
$114,491
275
6/2048
$472
$4,181
$110,310
276
7/2048
$455
$4,198
$106,112
End of year 23
277
8/2048
$438
$4,215
$101,897
278
9/2048
$420
$4,233
$97,664
279
10/2048
$403
$4,250
$93,414
280
11/2048
$385
$4,268
$89,146
281
12/2048
$368
$4,285
$84,861
282
1/2049
$350
$4,303
$80,558
283
2/2049
$332
$4,321
$76,238
284
3/2049
$314
$4,338
$71,899
285
4/2049
$297
$4,356
$67,543
286
5/2049
$279
$4,374
$63,169
287
6/2049
$261
$4,392
$58,776
288
7/2049
$242
$4,410
$54,366
End of year 24
289
8/2049
$224
$4,429
$49,937
290
9/2049
$206
$4,447
$45,490
291
10/2049
$188
$4,465
$41,025
292
11/2049
$169
$4,484
$36,541
293
12/2049
$151
$4,502
$32,039
294
1/2050
$132
$4,521
$27,518
295
2/2050
$113
$4,539
$22,979
296
3/2050
$95
$4,558
$18,421
297
4/2050
$76
$4,577
$13,844
298
5/2050
$57
$4,596
$9,248
299
6/2050
$38
$4,615
$4,634
300
7/2050
$19
$4,634
$0
End of year 25
Year
Date
Interest
Principal
Ending Balance
1
8/25-7/26
$39,216
$16,618
$783,382
2
8/26-7/27
$38,375
$17,459
$765,923
3
8/27-7/28
$37,491
$18,343
$747,579
4
8/28-7/29
$36,562
$19,272
$728,308
5
8/29-7/30
$35,587
$20,247
$708,060
6
8/30-7/31
$34,562
$21,273
$686,788
7
8/31-7/32
$33,485
$22,349
$664,438
8
8/32-7/33
$32,353
$23,481
$640,957
9
8/33-7/34
$31,164
$24,670
$616,288
10
8/34-7/35
$29,916
$25,918
$590,369
11
8/35-7/36
$28,603
$27,231
$563,139
12
8/36-7/37
$27,225
$28,609
$534,529
13
8/37-7/38
$25,777
$30,058
$504,472
14
8/38-7/39
$24,255
$31,579
$472,893
15
8/39-7/40
$22,656
$33,178
$439,715
16
8/40-7/41
$20,977
$34,857
$404,857
17
8/41-7/42
$19,212
$36,622
$368,235
18
8/42-7/43
$17,358
$38,476
$329,759
19
8/43-7/44
$15,410
$40,424
$289,335
20
8/44-7/45
$13,364
$42,470
$246,865
21
8/45-7/46
$11,214
$44,621
$202,244
22
8/46-7/47
$8,955
$46,879
$155,365
23
8/47-7/48
$6,581
$49,253
$106,112
24
8/48-7/49
$4,088
$51,746
$54,366
25
8/49-7/50
$1,468
$54,366
$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.
