Canadian Mortgage Calculator

Calculate Canadian mortgage payments with semi-annual compounding as required by Canadian law.

Enter Your Values

Home Price (CAD $)

Down Payment (CAD $)

Annual Interest Rate (%)

Amortization Period

Payment Frequency

Results

Fill in your values above and click Calculate.

Frequently Asked Questions

Q.Why do Canadian mortgages compound semi-annually?

Canadian law (Interest Act) requires mortgages to compound no more frequently than semi-annually. This differs from US mortgages which compound monthly.

Q.What is CMHC insurance?

CMHC (Canada Mortgage and Housing Corporation) mortgage insurance is required when your down payment is less than 20%. It ranges from 2.8% to 4% of the mortgage amount.