# Canadian mortgage calculator

> Canadian mortgage payment with semi-annual compounding, accelerated bi-weekly or weekly options, the CMHC insurance premium and the balance at renewal.

इंटरैक्टिव संस्करण: https://www.calcopenly.com/hi/finance/canadian-mortgage-calculator
विषय: वित्त कैलकुलेटर

Canadian fixed-rate mortgages compound interest twice a year. The Interest Act (section 6) requires a blended-payment mortgage to state its rate "calculated yearly or half-yearly, not in advance", so 5% means 2.5% every six months, or 5.0625% a year effective. Each payment uses the matching rate per period, for example (1.025)^(1/6) − 1 per month.

With the defaults, a 600,000 home with 10% down needs a CMHC premium of 3.10%, or 16,740, added to the 540,000 loan; at 4.5% over 25 years the 556,740 mortgage costs 3,081.41 a month. The Financial Consumer Agency of Canada's table gives 1,744.81 a month for 300,000 at 5% over 25 years, which this calculator reproduces.

Accelerated bi-weekly payments, half the monthly payment every two weeks, add the equivalent of one monthly payment a year. On that 300,000 mortgage they end the loan in 21.5 years and save 36,261.51 of interest.

## इनपुट

- **Purchase price**
- **Enter down payment as** (विकल्प: Percent of price, Amount)
- **अग्रिम भुगतान**: Minimum: 5% of the first $500,000 and 10% of the rest; 20% at $1.5 million or more (FCAC).
- **अग्रिम भुगतान**: Minimum: 5% of the first $500,000 and 10% of the rest; 20% at $1.5 million or more (FCAC).
- **Interest rate (per year)**
- **Interest compounded**: Fixed-rate mortgages compound half-yearly under the Interest Act convention. Choose monthly only if your contract says interest compounds monthly. (विकल्प: Semi-annually (fixed), Monthly)
- **Amortization**: Insured mortgages: 25 years, or 30 if a borrower is a first-time buyer or the home is newly built (since December 15, 2024).
- **First-time buyer or newly built home**: Allows a 30-year amortization on an insured mortgage.
- **Payment frequency** (विकल्प: Monthly, Semi-monthly, Bi-weekly, Accelerated bi-weekly, Weekly, Accelerated weekly)
- **Mortgage term**: Years until renewal; the balance left then is renewed at the rate on offer.
- **Borrowed (non-traditional) down payment**: CMHC charges 4.50% instead of 4.00% above 90% loan-to-value.
- **Provincial sales tax on the premium**: Ontario, Quebec and Saskatchewan tax the premium; the tax is paid at closing and can't be added to the mortgage (CMHC). Check Revenu Québec for Quebec's rate.

## नतीजे

- Mortgage payment — मुख्य परिणाम
- Minimum down payment
- अग्रिम भुगतान
- Mortgage before insurance
- Loan-to-value
- CMHC premium rate
- Mortgage insurance premium
- Sales tax on the premium (cash)
- Total mortgage
- Effective annual rate
- Interest paid in the term
- Balance at renewal
- Total interest
- Time to pay off (years)
- Interest saved against monthly payments

## सूत्र

$$
i_p = \left(1+\tfrac{j}{2}\right)^{2/p} - 1,\quad M = \frac{L\,i_{12}}{1-(1+i_{12})^{-12a}}
$$

## हल किए गए उदाहरण

### FCAC table: 300,000 at 5% over 25 years

- Purchase price: 375,000
- Enter down payment as: Percent of price
- अग्रिम भुगतान: 20%
- Interest rate (per year): 5%
- Interest compounded: Semi-annually (fixed)
- Amortization: 25 years
- Payment frequency: Monthly
- Mortgage term: 5 years
- **Mortgage payment: 1,744.81 per month**
- **Total interest: 223,444.49**
- **Interest paid in the term: 70,211.42**
- **Mortgage insurance premium: 0.00**
- **Effective annual rate: 5.0625%**
- जाँच का स्रोत: Financial Consumer Agency of Canada, Interest on mortgages: 5.00% row — monthly payment 1,744.81, 5-year interest 70,211.42, 25-year interest 223,444.49

### FCAC table: 300,000 at 2.5% over 25 years

- Purchase price: 375,000
- Enter down payment as: Amount
- अग्रिम भुगतान: 75,000
- Interest rate (per year): 2.5%
- Interest compounded: Semi-annually (fixed)
- Amortization: 25 years
- Payment frequency: Monthly
- Mortgage term: 5 years
- **Mortgage payment: 1,343.90 per month**
- **Total interest: 103,169.61**
- **Interest paid in the term: 34,547.72**
- जाँच का स्रोत: Financial Consumer Agency of Canada, Interest on mortgages: 2.50% row — 1,343.90 a month, 34,547.72 over 5 years, 103,169.61 over 25 years

### FCAC minimum down payment on a 600,000 home

- Purchase price: 600,000
- Enter down payment as: Amount
- अग्रिम भुगतान: 35,000
- Interest rate (per year): 4.5%
- Interest compounded: Semi-annually (fixed)
- Amortization: 25 years
- Payment frequency: Monthly
- Mortgage term: 5 years
- **Minimum down payment: 35,000.00**
- **CMHC premium rate: 4.00%**
- **Mortgage insurance premium: 22,600.00**
- **Total mortgage: 587,600.00**
- जाँच का स्रोत: FCAC: 5% of 500,000 + 10% of 100,000 = 35,000; CMHC table: LTV 94.17% → 4.00% × 565,000 = 22,600

### 30-year Home Start amortization at 5% down

- Purchase price: 500,000
- Enter down payment as: Percent of price
- अग्रिम भुगतान: 5%
- Interest rate (per year): 4.5%
- Interest compounded: Semi-annually (fixed)
- Amortization: 30 years
- First-time buyer or newly built home: हाँ
- Payment frequency: Monthly
- Mortgage term: 5 years
- **CMHC premium rate: 4.20%**
- **Mortgage insurance premium: 19,950.00**
- **Total mortgage: 494,950.00**
- **Mortgage payment: 2,495.61 per month**
- जाँच का स्रोत: CMHC Home Start premium schedule (90.01–95% LTV: 4.20%); Python decimal annuity at (1.0225)^(1/6) − 1 over 360 months

### Accelerated bi-weekly on the FCAC 5% example

- Purchase price: 375,000
- Enter down payment as: Percent of price
- अग्रिम भुगतान: 20%
- Interest rate (per year): 5%
- Interest compounded: Semi-annually (fixed)
- Amortization: 25 years
- Payment frequency: Accelerated bi-weekly
- Mortgage term: 5 years
- **Mortgage payment: 872.41 every 2 weeks**
- **Time to pay off: 21.50 years**
- **Total interest: 187,182.97**
- **Interest saved against monthly payments: 36,261.51**
- जाँच का स्रोत: Python decimal: 1,744.814955 ÷ 2 paid every two weeks at (1.025)^(2/26) − 1; balance clears in period 559; saved = 223,444.49 − 187,182.97

### Borrowed down payment with Ontario sales tax

- Purchase price: 400,000
- Enter down payment as: Percent of price
- अग्रिम भुगतान: 5%
- Interest rate (per year): 4.5%
- Interest compounded: Semi-annually (fixed)
- Amortization: 25 years
- Payment frequency: Monthly
- Mortgage term: 5 years
- Borrowed (non-traditional) down payment: हाँ
- Provincial sales tax on the premium: 8%
- **CMHC premium rate: 4.50%**
- **Mortgage insurance premium: 17,100.00**
- **Sales tax on the premium (cash): 1,368.00**
- **Total mortgage: 397,100.00**
- जाँच का स्रोत: CMHC table (90.01–95% LTV, non-traditional down payment: 4.50%); 8% Ontario retail sales tax on 17,100 = 1,368, paid in cash

## सवाल

### Why are Canadian mortgages compounded semi-annually?

Section 6 of the Interest Act requires a mortgage with blended payments to state its rate calculated yearly or half-yearly, not in advance, and fixed rates are quoted with half-yearly compounding. A 5% rate is then 5.0625% effective a year instead of 5.1162% with monthly compounding. On 300,000 over 25 years the payment is 1,744.81 a month rather than 1,753.77.

### What is the minimum down payment in Canada?

5% of the price up to 500,000; 5% of the first 500,000 plus 10% of the rest up to 1.5 million; and 20% at 1.5 million or more, where mortgage insurance is not available (Financial Consumer Agency of Canada). A 600,000 home needs at least 25,000 + 10,000 = 35,000. With less than 20% down you typically need mortgage default insurance.

### How much is CMHC mortgage insurance?

CMHC charges a one-time premium on the loan: 2.80% at 80.01% to 85% loan-to-value, 3.10% up to 90% and 4.00% up to 95% (4.50% with a borrowed down payment). Amortizations over 25 years add 0.20 points. The premium is usually added to the mortgage; Ontario, Quebec and Saskatchewan charge sales tax on it, payable in cash. At 94.17% LTV on 565,000 the premium is 22,600.

### Can you get a 30-year mortgage in Canada?

Yes. Since December 15, 2024, an insured mortgage (under 20% down) can be amortized over 30 years if a borrower is a first-time buyer or the home is newly built (Department of Finance); others are capped at 25 years. With 5% down on 500,000 at 4.5%, 30 years costs 2,495.61 a month against 2,734.16 over 25 years, but 77,224.44 more interest.

### How much do accelerated bi-weekly payments save?

Paying half the monthly payment every two weeks makes 26 half-payments, or 13 monthly payments, a year. On 300,000 at 5% over 25 years, accelerated bi-weekly payments of 872.41 end the mortgage in 21.5 years and save 36,261.51 of interest; accelerated weekly payments of 436.20 save 36,673.39. Regular bi-weekly payments, set to last 25 years, save only 579.95.

### “Canadian mortgage calculator” कितना सटीक है?

सटीकता आपके इनपुट और विधि की मान्यताओं पर निर्भर करती है। दशमलव गणना 50 सार्थक अंकों का उपयोग करती है, लेकिन अनुमान, संख्यात्मक विधियाँ और स्रोत डेटा कम सटीक हो सकते हैं। दिखाए गए मानों को पूर्णांकित करने से ये सीमाएँ दूर नहीं होतीं। स्वतंत्र स्रोतों के हल किए गए उदाहरणों से जाँच: 6। उदाहरण के लिए, “FCAC table: 300,000 at 5% over 25 years” की जाँच Financial Consumer Agency of Canada, Interest on mortgages: 5.00% row — monthly payment 1,744.81, 5-year interest 70,211.42, 25-year interest 223,444.49 से की गई है।

### इस विधि का स्रोत क्या है?

Interest Act (R.S.C., 1985, c. I-15), section 6; Financial Consumer Agency of Canada — Interest on mortgages (payment table for 300,000 over 25 years); Financial Consumer Agency of Canada — Saving for a down payment; CMHC — Premium information for homeowner and small rental loans; CMHC — Home Start (30-year amortization premiums); Department of Finance Canada — Boldest mortgage reforms in decades come into force.

## स्रोत

- [Interest Act (R.S.C., 1985, c. I-15), section 6](https://laws-lois.justice.gc.ca/eng/acts/I-15/page-1.html)
- [Financial Consumer Agency of Canada — Interest on mortgages (payment table for 300,000 over 25 years)](https://www.canada.ca/en/financial-consumer-agency/services/mortgages/interest-on-mortgages.html)
- [Financial Consumer Agency of Canada — Saving for a down payment](https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html)
- [CMHC — Premium information for homeowner and small rental loans](https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/premium-information-for-homeowner-and-small-rental-loans)
- [CMHC — Home Start (30-year amortization premiums)](https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/home-start)
- [Department of Finance Canada — Boldest mortgage reforms in decades come into force](https://www.canada.ca/en/department-finance/news/2024/12/boldest-mortgage-reforms-in-decades-come-into-force-today.html)

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