Canadian Mortgage Payment Calculator
Estimate your mortgage payment using the proper Canadian convention: fixed-rate mortgages compound semi-annually, not monthly, which makes the effective rate slightly lower than a naive monthly calculation. Enter your principal, interest rate, amortization and payment frequency to see your payment, total interest and total cost.
Estimate only for the 2026 tax year. Not tax, accounting or financial advice. Talk to RN Canada about your situation.
Frequently asked questions
For fixed-rate mortgages, Canadian law requires interest to be compounded semi-annually (twice a year), not in advance. This calculator converts the rate correctly before computing the payment.
US mortgages typically compound monthly, while Canadian fixed-rate mortgages compound semi-annually. At the same posted rate, the Canadian payment is marginally lower.
Yes. Choose monthly, bi-weekly or weekly frequency and the calculator amortizes the loan accordingly and shows total interest over the amortization.