Mortgage payment calculator
Estimate your Canadian mortgage payment, see your balance at renewal, and compare payment frequencies.
Your numbers
Your result
Example scenarioEstimated mortgage payment
4.50% interest · 25-year amortization · semi-annual compounding
Try a different scenario
Monthly, accelerated biweekly and a rate 1 percentage point higher.
Or save these inputs, change a number and compare with your saved scenario.
Why this number?
This model uses a nominal annual rate compounded twice per year. The rate per payment period is i = (1 + r/2)^(2/f) − 1, where r is the annual rate as a decimal and f is payments per year. This convention suits many Canadian fixed-rate mortgages. Your lender may use a different convention, particularly for variable-rate products.
Result breakdown, line by line
Values use the assumptions above and the exact inputs entered. Compare scenarios before making a decision.
Planning estimate. Rate and return assumptions can change the result.
How is this calculated?Money Figures · Mortgage payment calculator · Model v0.1.6 · Values in Canadian dollars
Charts, amortization & comparisonsTake a closer look at your result.
Your projection
SHOWING OUR WORK
Assumptions & methodology
Canadian compounding
This model uses a nominal annual rate compounded twice per year. The rate per payment period is i = (1 + r/2)^(2/f) − 1, where r is the annual rate as a decimal and f is payments per year. This convention suits many Canadian fixed-rate mortgages. Your lender may use a different convention, particularly for variable-rate products.
Payment and balance
The monthly payment is P × i / (1 − (1 + i)^−n), with n equal to amortization years × 12. With a zero rate, payment is P/n. Each period's interest is the opening balance × the period rate; the rest of the payment reduces principal.
Payment frequency
Regular biweekly is monthly payment × 12/26; weekly is monthly payment × 12/52. Accelerated biweekly is half a monthly payment, 26 times per year; accelerated weekly is one quarter, 52 times per year. Periods are evenly spaced in this model. Lender schedules and calendar dates can differ.
Projection limits
The balance and interest within your selected term are calculated separately. Lifetime interest assumes the same rate until payoff; a renewal can change that result. Property tax, condo fees, home insurance, closing costs, mortgage default-insurance premiums, penalties and lender fees are excluded unless already included in the mortgage amount. Payments and balances retain full precision internally and display two decimal places.
A worked example
A C$500,000 mortgage at 4.50% over 25 years has an estimated monthly payment of C$2,767.36 under these assumptions. Change the inputs to see the effect on the balance at the end of a five-year term.
Understand the result
What accelerated biweekly actually changes
Compare monthly, regular biweekly and accelerated biweekly payments, including the extra annual commitment and constant-rate assumptions.
Read guideMortgage stress test, explained
Understand the 2026 uninsured mortgage qualifying-rate rule, GDS and TDS, and why lender approval may differ from a planning estimate.
Read guideImportant: planning estimate, not financial advice
Money Figures provides general calculator estimates based on the inputs and assumptions shown. It does not consider your full financial circumstances and is not financial, tax, investment, lending or legal advice. Results do not guarantee lender, insurer, government or tax treatment. Confirm material decisions with the relevant institution or an appropriately qualified professional.
Your next money decision
Compare the total borrowing cost
A rate comparison needs more than the monthly payment. Compare fees, prepayment conditions, amortization and renewal assumptions.
Explore the next tool or guide →Sources
Sources checked: 2026-10-09. Targeted technical check: 2026-10-11. Financial model v0.1.6; release v0.2.9. Independent financial review is pending. Calculation standards · Change history.