Mortgage Payment Calculator
Calculate your monthly payment and see a full year-by-year breakdown of principal and interest. Canadian mortgages use semi-annual compounding — this calculator applies the correct formula.
Your mortgage payment
—
per month
Total paid over amortization—
Total interest paid—
Interest as % of total payments—
Year-by-year breakdown
How much of each year's payments go to principal vs interest.
| Year | Principal paid | Interest paid | Balance remaining |
|---|
Canadian mortgage math — why it's different
Canadian mortgages legally require semi-annual compounding, which is different from the monthly compounding used in the US and most other countries. The effect is small but real: at 5% nominal, the effective monthly rate is (1 + 0.05/2)^(1/6) - 1 = 0.4124%, not 0.4167%. This calculator applies the correct Canadian formula, so your payments match what your lender will actually charge.