Mortgage payment calculator

Calculate the payment before the offer feels real.

This page is built for the most common buyer question: what does the recurring payment actually look like once Canadian compounding, insurance, property tax, heating, and condo fees are in the same frame?

Canadian payment math with semi-annual compounding.
Ontario-first insurance tax handling in v1.
Optional property tax, heating, and condo inputs to move beyond the bare mortgage number.
Inputs
Purchase and payment details
Example default rates only. Update fields freely. Defaults last updated April 18, 2026.

Used for insured 30-year amortization eligibility.

Results
Estimated payment outcome
Canadian-style payment math with semi-annual compounding and Ontario-first insurance handling.

Payment

$3,874

Per month

Monthly carrying cost

$4,447

Mortgage plus taxes, condo fees, and heating

Mortgage amount

$680,000

No default insurance added

Down payment

20.0%

Minimum required $60,000

Base mortgage before insurance
$680,000
Default insurance premium
$0
Ontario premium tax
$0
Total interest over payoff
$482,205
Estimated payoff length
25.0 years
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Next move
What usually follows this calculator
Buyers generally pair the payment view with transfer tax or affordability before they decide if the target price still works.
Estimate Ontario transfer taxRe-check affordability
Next step
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Assumptions
How this version behaves
The inputs are flexible, but the rules are intentionally explicit so the outputs stay interpretable.
Example rates are editable defaults, not live quotes or lender offers.
Insured-mortgage logic assumes the post-December 15, 2024 $1.5M cap.
The all-in monthly carrying cost includes property tax, condo fees, and heating only when you enter them.
Related
Keep the workflow moving
These companion calculators answer the next question buyers usually ask.

Budget guardrails

Affordability

See how much home you can support using GDS, TDS, down payment, and the stress test.

Closing costs

Ontario Land Transfer Tax

Calculate Ontario land transfer tax and first-time-buyer rebate before you close.

Insured purchases

Mortgage Insurance

Estimate CMHC-style default insurance and Ontario premium tax for down payments below 20%.

FAQ
What buyers usually ask next
This content is there to make each calculator page useful as a landing page, not just a widget shell.