Canadian Mortgage Calculator
Calculate Canadian mortgage payments with semi-annual compounding. Free mortgage calculator.
About This Calculator
Calculate Canadian mortgage payments with semi-annual compounding. Free online loan calculator with amortization schedule for Canadian home buyers.
This free online calculator is part of Calculys comprehensive tool suite. Results update instantly and can be shared via URL.
How It Works
Enter your values and click Calculate. The tool uses validated formulas to compute accurate results with interactive charts and a detailed breakdown table.
Frequently Asked Questions
How are Canadian mortgages different?
Canadian mortgages compound semi-annually (not monthly). Interest rate is quoted as annual, compounded twice per year.
What is the standard amortization in Canada?
Typical: 25 years. Maximum for insured mortgages: 25 years. Uninsured: up to 30 years.
What is the minimum down payment in Canada?
Under $500K: 5%. $500K-$1M: 5% on first $500K, 10% on remainder. Over $1M: 20% minimum.
What is CMHC insurance?
Canada Mortgage and Housing Corporation insurance required for down payments under 20%. Protects lender against default.
Can I make extra payments?
Most Canadian mortgages allow 10-20% lump sum prepayment annually and increased regular payments without penalty.