Calculation method
Monthly payment uses the standard fixed-payment loan formula with the monthly equivalent of the selected nominal annual compounding convention. Payments occur at month-end; amortization is not a Canadian mortgage contract term.
Mortgages · General formulas
Mortgage Payment Calculator
Estimate your fixed monthly mortgage payment and total interest. Use the example values or enter your own numbers to explore an estimate.
Currency formatting only—not an exchange-rate conversion. No country-specific tax or government rules are applied.
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Enter your details to see a personalized calculation, a simple projection, and the assumptions behind it.
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The PDF includes active input values and option labels, results, sources, model assumptions, and the schedule when available. Schedule periods follow the model: years, months, or actual payments.
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Share assumptions, never dollar amounts
Links include eligible rate, term or frequency assumptions only. Dollar amounts are never included. Recipients must enter their own amounts; the link will not reproduce your full financial scenario.
Assumptions & limits
- Fixed rate for the full amortization period.
- Principal and interest only; taxes and insurance are excluded.
- Basis: User-entered values.
- Basis: Standard fixed-payment and time-value-of-money formulas.
- Basis: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html.
- Basis: https://itools-ioutils.fcac-acfc.gc.ca/MC-CH/MortgageCalculator.aspx.
Source/rule review year: Not applicable — general mathematical model.
READ THE METHOD
How mortgage amortization works Want the mechanics before comparing scenarios?