Free, no sign-up

Canada Mortgage Calculator 2026

Payments compounded the Canadian way, with CMHC insurance, the minimum down payment and the stress test rate.

Your mortgage

$
$

How this calculator works

Compounding. A Canadian fixed-rate mortgage quoted at 4.29% is compounded twice a year, because the Interest Act requires blended-payment mortgages to state the rate "calculated yearly or half-yearly, not in advance". The calculator turns that into the matching rate per payment, (1 + 4.29% ÷ 2)2 ÷ payments per year − 1. Variable-rate mortgages usually compound monthly, so pick "Variable" for those.

Down payment and insurance. If you put down less than 20%, the mortgage must be insured, with CMHC or a private insurer, and the premium is added to the loan. The calculator checks your down payment against the federal minimum and adds the premium for your loan-to-value band.

Accelerated payments. "Accelerated" bi-weekly and weekly payments are your monthly payment divided by 2 or 4. You make 26 or 52 of them a year, so you pay the equivalent of one extra monthly payment each year. The calculator runs the schedule to show how much sooner the mortgage is gone.

Stress test. To approve you, a federally regulated lender works out your payment at the minimum qualifying rate, the greater of your rate + 2% or 5.25%, and checks that it fits your income. The calculator shows that payment so you know the figure the lender will test.

Read the full explanation in our guide, How Canadian mortgages work: compounding, CMHC insurance and the stress test.

What it leaves out

Property tax, home insurance, condo fees, land transfer tax and legal fees aren't included. Neither is the provincial sales tax on the CMHC premium, which is due in cash at closing in Ontario, Quebec and Saskatchewan. Lenders' own rules (debt-service ratios, credit score) decide what you can borrow. This calculator shows only the arithmetic.

Sources

  • Minimum down payment: Financial Consumer Agency of Canada, "Down payment" (canada.ca). Checked 21 Oct 2026.
  • $1.5 million insured price cap and 30-year amortization for first-time buyers and new builds, from 15 Dec 2024: Department of Finance Canada release, 16 Dec 2024.
  • Premium rates and the 0.20% surcharge beyond 25 years: CMHC, "Premium information for homeowner and small rental loans". Checked 21 Oct 2026.
  • Minimum qualifying rate: OSFI, "Minimum qualifying rate for uninsured mortgages" (page dated 29 Jan 2026), and Department of Finance statements for insured mortgages.
  • Compounding: Interest Act, R.S.C. 1985, c. I-15, s. 6.

Frequently asked questions

Why is a Canadian mortgage payment different from a US one at the same rate?

Canadian fixed-rate mortgages are normally compounded semi-annually, because the Interest Act requires the rate to be stated as calculated yearly or half-yearly. US mortgages compound monthly. At the same quoted rate, semi-annual compounding gives a slightly lower effective rate and so a slightly lower payment.

What is the minimum down payment in Canada?

5% of the first $500,000 of the purchase price, plus 10% of the part between $500,000 and $1.5 million. At $1.5 million or more the minimum is 20%. With less than 20% down the mortgage must be insured.

How much is CMHC mortgage insurance?

With less than 20% down, the premium is a percentage of the loan: 2.80% for a loan-to-value of 80.01% to 85%, 3.10% for 85.01% to 90%, and 4.00% for 90.01% to 95%. It is usually added to the mortgage. Amortizations longer than 25 years carry a 0.20% surcharge. In Ontario, Quebec and Saskatchewan, provincial sales tax on the premium is due in cash at closing.

Can I get a 30-year amortization in Canada?

With an insured mortgage (under 20% down), 30 years is available only to first-time buyers and to buyers of a newly built home, a rule in force since 15 December 2024. Everyone else with an insured mortgage is limited to 25 years. With 20% or more down, many lenders offer 30 years.

What is the mortgage stress test rate?

Lenders must check that you could afford payments at the greater of your contract rate plus 2 percentage points or 5.25%. For a 4.5% mortgage the qualifying rate is 6.5%.

How much faster does accelerated bi-weekly pay off a mortgage?

Accelerated bi-weekly pays half the monthly payment every two weeks. That is 26 half-payments a year, the same as 13 monthly payments instead of 12. On a 25-year mortgage this typically cuts the amortization by around three years and saves a large share of the interest.

Related

Guide: how Canadian mortgages work Rent vs buy US mortgage calculator

For education only, not financial advice. Your lender's figures are the ones that count. Found an error? Email labs@vixitai.com.