Financial / Browser calculator

Canadian Mortgage Calculator

Canadian Mortgage Calculator works from the inputs you provide and returns monthly payment, total interest, total paid, payments. Use the calculation panel to explore a scenario, then check the formula and limitations before applying the result.

Your inputs

Minimum: 0 · Maximum: 1000000000000
Minimum: 0 · Maximum: 100
Minimum: 0.08333333333333333 · Maximum: 100

Your results

Enter your values and calculate to see the result.

This estimate is for information and comparison, not financial, investment or tax advice.

Formula and calculation method

Monthly rate = (1 + nominal annual rate / 2)^(1/6) − 1. Payment = P × i / [1 − (1 + i)^(−n)].

Canadian nominal-rate convention with semiannual compounding. The amortization is not a guarantee of the offered renewal term.

How to use canadian mortgage calculator

  1. Set Principal / amount. The example below uses 100000.
  2. Set Annual interest rate (%). The example below uses 6.
  3. Set Amortization (years). The example below uses 25.
  4. Select Calculate to update the result. Reset restores the illustrated inputs. Copy, print or download your own result if you need a record.

Worked example

Example inputs
Principal / amount
100000
Annual interest rate (%)
6
Amortization (years)
25
Monthly payment
639.80662368
Total interest
91,941.98710302
Total paid
191,941.98710302
Payments
300

Factors affecting your result

Canadian nominal-rate convention with semiannual compounding. The amortization is not a guarantee of the offered renewal term.

Changing principal / amount changes the scenario being evaluated. Adjust one input at a time when comparing results, keep a copy of the assumptions, and compare values using the same unit and period. A precise arithmetic result does not make an uncertain assumption precise.

Frequently asked questions

How does the canadian mortgage calculator work?

Monthly rate = (1 + nominal annual rate / 2)^(1/6) − 1. Payment = P × i / [1 − (1 + i)^(−n)].

What inputs does Canadian Mortgage Calculator need?

Enter principal / amount, annual interest rate (%), amortization (years). Read the unit labels; percentages are entered as ordinary percentages, not decimal fractions.

How should I interpret the canadian mortgage calculator result?

Canadian nominal-rate convention with semiannual compounding. The amortization is not a guarantee of the offered renewal term.

Are my canadian mortgage calculator inputs uploaded?

No. The calculation runs in this browser. Favorites, recent tool names, theme and formatting preferences may be saved locally, but calculation inputs are not sent to a calculation server or stored by this website. Shared links do not include entered values.

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