Mortgage Payment Calculator (Canada)
Enter a mortgage amount, rate and amortization to see your payment and total interest. Fixed-rate mortgages in Canada compound semi-annually, and this calculator uses that formula.
Calculator
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Monthly payment
$2,662.73
Total interest over amortization
$298,818
Paid off in 25.0 years
Estimate only, based on the published rules listed below. Lenders, insurers and tax authorities apply their own criteria.
How the payment is calculated
Canadian law requires fixed-rate mortgage interest to be compounded no more often than semi-annually. The quoted annual rate is converted to an equivalent rate for each payment period, then the standard level-payment formula spreads principal and interest evenly over the amortization.
Accelerated payments
Accelerated bi-weekly payments are half of the monthly payment, made every two weeks. Because there are 26 bi-weekly periods in a year, you make the equivalent of one extra monthly payment each year, which shortens the amortization.
Sources
Rules are summarized in our own words from official publications. Check the source and talk to your lender or a licensed professional before making a decision.
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.