Financial Calculators
Canadian Mortgage Calculator
Monthly payments with Canadian compounding.
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About the Canadian Mortgage Calculator
Canadian mortgages are, by law, compounded semi-annually rather than monthly — which slightly lowers the effective rate versus a US-style mortgage. This calculator applies that rule to estimate your monthly payment, total of payments, and total interest over the amortization period.
How to use the Canadian Mortgage Calculator
- 01Enter your mortgage amount, interest rate, and amortization in years.
- 02Read the result instantly — it recalculates as you type.
- 03Adjust the numbers to model different scenarios.
Frequently asked questions
How is a Canadian mortgage different?
Canadian mortgage rates are compounded semi-annually (twice a year), not monthly, so the effective monthly rate — and payment — is slightly lower for the same posted rate.
What amortization should I use?
25 years is the Canadian standard for insured mortgages, though 30 years is available with a larger down payment.