Tools
Canadian Mortgage Payment & Renewal Calculator
Compare today's scheduled payment with a projected payment at renewal. The calculation uses the Canadian fixed-rate convention and includes the current federal down-payment and insured-mortgage rules.
Method and limits
What this estimate includes
Canadian fixed-rate math. The nominal annual rate is compounded semi-annually, then converted to the selected payment frequency. Accelerated biweekly uses half the monthly payment every two weeks; accelerated weekly uses one-quarter every week.
Mortgage insurance. For eligible purchases below $1.5 million with less than 20% down, the estimate applies CMHC's current loan-to-value premium and adds it to the mortgage. Provincial sales tax on the premium is not included.
Renewal scenario. The renewal payment uses the balance after the selected term, your projected fixed rate, the original frequency, and the remaining scheduled amortization. It is not a rate forecast or lender quote.
Planning a down payment
First-home savings context
A mortgage estimate is only one part of the plan. Read our FHSA vs. RRSP vs. TFSA comparison, then confirm the official rules for the Home Buyers' Plan and First Home Savings Account before moving money.
Official sources
Rules and methodology verified September 12, 2026. Primary sources:
- Department of Finance Canada technical parameters (effective December 15, 2024): minimum down-payment bands, the less-than-$1.5-million insured limit, and expanded 30-year eligibility.
- FCAC mortgage terms and amortization: term, renewal, and current 25/30-year insured-amortization rules.
- CMHC premium information: current loan-to-value premium bands and the 0.20% surcharge beyond 25 years.
- FCAC Mortgage Calculator: official payment-frequency and accelerated-payment definitions used for comparison.