Mortgage Payment Calculator for Canada and the U.S.
Choose Canada or the United States, then compare principal and interest with property tax, heating, insurance, condo or HOA costs, and mortgage insurance. The result is an educational estimate, not a lender quote or approval.
Best for
Make the next pricing or planning decision with context
Compare a Canada or U.S. monthly housing payment with principal and interest, mortgage insurance, property taxes, heating, and other entered housing costs. Use it to frame an early planning conversation, then replace defaults with current property and lender figures.
Instant calculations · Editable fee assumptions · Export-ready results
Inputs
Values update results instantly. Adjust fee assumptions to match your seller dashboard.
Your figures are saved in this browser on this device.
Scenario
Purchase price before the down payment.
Cash applied to the purchase price.
Mortgage
Enter the rate shown by the lender or broker.
Time used to repay the mortgage in this estimate.
Accelerated payments use the monthly payment divided by two or four.
Recurring housing costs
Annual estimate. Enter zero if you want to leave it out.
Used as a recurring housing-cost estimate, especially for Canadian qualification planning.
Insurance premium estimate, excluding mortgage insurance.
Canada uses 50% in ratio-style assumptions; U.S. HOA is counted at 100%.
Insurance assumptions
When on, the estimate adds the CMHC premium to the mortgage balance. It is ignored for U.S. scenarios.
Editable planning rate applied when estimated loan-to-value is above 80%.
Editable CMHC review assumption for lower-LTV scenarios. High-ratio insurance is applied above 80% here.
Editable CMHC planning assumption for review. Published rates and eligibility can change.
Editable planning assumption, shown for review even though insurance starts above 80% LTV here.
Results
Live estimates based on your inputs and editable fee assumptions.
Selected payment
$3,576.85
Payment at the chosen frequency.
Monthly-equivalent principal and interest
$3,576.85
Principal and interest normalized to a month.
Other monthly housing costs
$661.67
Tax, heating, homeowners insurance, condo or HOA, and estimated PMI.
Estimated monthly housing total
$4,238.51
Monthly-equivalent principal and interest plus recurring housing costs.
Mortgage balance used
$603,135.00
Base loan plus a financed Canadian premium when selected.
Canadian mortgage-insurance premium
$18,135.00
Upfront CMHC planning estimate. U.S. PMI is shown monthly instead.
Estimated U.S. PMI per month
$0.00
Conventional PMI planning estimate when loan-to-value is above 80%.
Estimated total interest
$469,919.02
Interest across the simulated payment schedule.
Loan-to-value
90.0%
Base mortgage divided by the home price.
Estimated payoff time
25
Years in the selected payment schedule.
What this means
Canada estimate: $3,576.85 per month and $4,238.51 per month including entered recurring housing costs.
Mortgage balance, interest, and recurring housing costs
Interactive breakdown of fees, costs, and remaining profit.
Distribution
- Mortgage principal$603,135.0054.9%
- Total interest$469,919.0242.8%
- Annual recurring housing costs$7,940.000.7%
- Mortgage insurance$18,135.001.6%
Total $1,099,129.02 · 4 segments · interactive
Line-item breakdown
Dollar amounts, share of revenue, and visual proportion.
- Base mortgage before insurance
- $585,000.00
- Loan-to-value
- 90.0%
- Selected payment
- $3,576.85
- Monthly-equivalent principal and interest
- $3,576.85
- Property tax per month
- $416.67
- Heating or utilities per month
- $125.00
- Homeowners insurance per month
- $120.00
- Condo or HOA cash cost per month
- $0.00
- Condo or HOA component used in ratios
- $0.00
- Monthly PMI estimate
- $0.00
- Estimated monthly housing total
- $4,238.51
- Estimated total interest
- $469,919.02
Assumptions used
- • Canada rate conversion applied at 5.20% nominal annual rate
- • Payment frequency: monthly; simulated payoff is approximately 25.0 years
- • CMHC planning premium 3.10% at 90.0% LTV, financed into the balance
- • Full condo fee is shown as cash cost; $0.00 is the 50% ratio component
- • Taxes, insurance, lender rules, and approval treatment must be confirmed for the property and borrower.
Your next best moves
Use your Mortgage Payment result to make the next decision. These Mortgage & Home Buying tools follow the same cost and pricing thread.
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Explore Mortgage & Home BuyingMortgage Payment Calculator
Generated 9/11/2026, 4:00:16 AM · Currency CAD
Inputs
- Country: canada
- Home price: 650000
- Down payment: 65000
- Quoted annual interest rate: 5.2
- Amortization (years): 25
- Payment frequency: monthly
- Property tax (annual): 5000
- Heating or utilities (monthly): 125
- Homeowners insurance (monthly): 120
- Condo fees or HOA (monthly): 0
- Finance the Canadian mortgage-insurance premium: true
- U.S. conventional PMI rate (annual): 0.5
- CMHC tier, up to 65% LTV: 0.6
- CMHC tier, 65.01% to 75% LTV: 1.7
- CMHC tier, 75.01% to 80% LTV: 2.4
- CMHC tier, 80.01% to 85% LTV: 2.8
- CMHC tier, 85.01% to 90% LTV: 3.1
- CMHC tier, 90.01% to 95% LTV: 4
Results
- Base mortgage before insurance: $585,000.00
- Loan-to-value: 90.0%
- Selected payment: $3,576.85
- Monthly-equivalent principal and interest: $3,576.85
- Property tax per month: $416.67
- Heating or utilities per month: $125.00
- Homeowners insurance per month: $120.00
- Condo or HOA cash cost per month: $0.00
- Condo or HOA component used in ratios: $0.00
- Monthly PMI estimate: $0.00
- Estimated monthly housing total: $4,238.51
- Estimated total interest: $469,919.02
Interpretation
Canada estimate: $3,576.85 per month and $4,238.51 per month including entered recurring housing costs.
How it works
Methodology & formulas
This calculator is transparent by design. Review the steps and formulas so you can trust the estimate and adjust assumptions when your dashboard differs.
Calculation steps
- 1Calculate the base loan and loan-to-value.
- 2Add a Canadian CMHC premium when the LTV is above 80% and the financed-premium option is on.
- 3Apply the country-specific rate conversion and payment-frequency formula.
- 4Simulate interest through the selected schedule, then add recurring housing costs separately.
Formulas
- Base loan = home price − down payment
- Canada monthly r = (1 + annualRate/2)^(2/12) − 1
- U.S. monthly r = annualRate/12
- Payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
- Accelerated biweekly = monthly payment ÷ 2; accelerated weekly = monthly payment ÷ 4
- Monthly housing total = monthly-equivalent P&I + tax + heating + insurance + condo/HOA + PMI
Important assumptions
- Canada converts a quoted nominal annual rate compounded semi-annually with r = (1 + j/2)^(2/12) − 1 before converting to the selected payment period.
- U.S. principal and interest uses a monthly rate of annual rate ÷ 12. Both modes support the frequency choices for comparison, although monthly is the common U.S. convention.
- Canadian CMHC planning tiers are 0.60%, 1.70%, 2.40%, 2.80%, 3.10%, and 4.00% by LTV. All six are editable review assumptions; this high-ratio estimate applies the 2.80%, 3.10%, or 4.00% tier only when LTV is above 80%.
- Canada counts 50% of condo fees in ratio-style housing assumptions. This payment view shows the full condo fee in cash costs and the 50% component in the breakdown. U.S. HOA is counted at 100%.
- Results are educational estimates. Actual lender qualification, taxes, insurance, fees, mortgage-insurance rules, and payment treatment vary.
Sources & review
Know what this estimate is built on
Use these official references to locate the policy, plan, or help details behind the editable inputs.
Official references
Use the current terms
These Canadian and U.S. government references are starting points for mortgage insurance, home-buying education, and selected taxes. They do not validate every default or determine eligibility. Rates, fees, taxes, rebates, qualifying rules, and lender criteria change by jurisdiction and borrower. Use the editable assumptions, then confirm current terms with a licensed mortgage broker or lender.
Defaults are editable estimates. Match them to your current account, provider statement, official authority, lender, or adviser before making a pricing or investment decision.
Calculator model reviewed: August 9, 2026. This date covers the page and calculator guidance, not a guarantee that every live platform rate or term was re-audited on that date.
Worked example
A Canadian starter-home scenario
$650,000 home, $65,000 down, 5.20% quoted rate, 25-year amortization, monthly payments, $5,000 annual property tax, and $120 monthly homeowners insurance.
FAQ
Common questions
Related guides
Read the guide behind the number
Use these practical guides to check the assumptions behind Mortgage Payment before you make the next decision.
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