Reviewed July 25, 2026 · Canadian federal rules and CMHC premium schedule
Canadian Mortgage Calculator
Estimate your payment in Canadian dollars, minimum down payment, mortgage-default insurance and federal stress-test payment.
Property and mortgage
Qualification inputs
Estimated monthly payment
$4,111
Principal and interest · Canadian semi-annual compounding
Total mortgage
$728,000
Insurance premium
$28,000 (4.00%)
Down payment required
$50,000
Loan-to-value
93.3%
Federal stress-test estimate
Qualification rate: 6.70%
$4,965/mo
GDS estimate
50.7%
Common benchmark: 39%
TDS estimate
55.3%
Common benchmark: 44%
This is an educational estimate, not a lender approval. Provincial sales tax on an insurance premium, closing costs and lender-specific underwriting are not included.
What this Canadian mortgage calculator includes
The tool calculates principal and interest using the Canadian fixed-rate convention, estimates the federal minimum down payment and adds the standard mortgage-default insurance premium when the loan-to-value ratio is above 80%.
How to read the stress-test result
Your contract payment is what the selected rate produces. The qualification payment uses the higher of 5.25% or your contract rate plus two percentage points. Estimated GDS and TDS ratios provide context, but a lender will verify income, debts, credit, property expenses and insurer requirements.
Primary sources
- Financial Consumer Agency of Canada: stress test and mortgage preparation
- Department of Finance Canada: insured-mortgage and down-payment reforms
- CMHC: mortgage loan insurance premium schedule
Looking for all Canadian resources? Visit the Canada finance hub.
Canadian Mortgage Calculator — Frequently Asked Questions
How is a Canadian mortgage payment calculated?
For a typical Canadian fixed-rate mortgage, the quoted nominal annual interest rate is converted using semi-annual compounding, then applied to the selected monthly amortization schedule. This differs from the monthly-compounding convention commonly used by US calculators.
What is the minimum down payment in Canada?
For an eligible owner-occupied home below $1.5 million, the federal minimum is 5% of the first $500,000 plus 10% of the portion from $500,000 to $1.5 million. A home priced at $1.5 million or more generally requires at least 20% down because it is outside the insured-mortgage price cap.
How does the Canadian mortgage stress test work?
Federally regulated lenders generally qualify borrowers at the higher of 5.25% or the negotiated contract rate plus 2 percentage points. The test applies to both insured and uninsured mortgages, subject to specific renewal and switching rules.
When is mortgage default insurance required?
Mortgage loan insurance is generally required when the down payment is below 20% on an eligible property. The premium depends on loan-to-value and can normally be added to the mortgage, although applicable provincial tax on the premium cannot be added.
Can every Canadian borrower choose a 30-year insured amortization?
No. Thirty-year insured amortizations are available to eligible first-time homebuyers and buyers of newly constructed homes. Other borrowers with high loan-to-value insured mortgages may be limited to a 25-year amortization.