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Canadian Mortgage Calculator
Estimate a Canadian mortgage payment with semi-annual compounding, CMHC insurance, minimum down payment and GDS/TDS affordability checks.
Canada estimate uses semi-annual mortgage compounding and CMHC-style minimum down payment rules checked for 2026. Exact lender qualification can differ.
Change the price, down payment, rate, amortization or carrying costs to see the Canadian payment, CMHC/default-insurance impact and affordability ratios.
How this Canadian mortgage calculator works
Canadian mortgage rates are commonly quoted with semi-annual compounding. This calculator converts the annual rate into an effective monthly rate using (1 + rate / 2)^(1 / 6) - 1, then applies the standard mortgage payment formula.
If the down payment is below 20%, the calculator estimates a mortgage default insurance premium and adds it to the mortgage balance. It also checks the common minimum down payment rule for homes below C$1.5 million: 5% of the first C$500,000 plus 10% of the amount above C$500,000.
GDS and TDS affordability
GDS looks at the share of gross income used for housing costs. TDS adds other monthly debt payments on top. The result panel flags the common 39% GDS and 44% TDS guideline levels, but lenders can apply different stress-test rates, exceptions and documentation rules.
Estimates only — not financial, mortgage or tax advice.
Frequently asked questions
How is a Canadian mortgage payment calculated?
Canadian fixed mortgage payments commonly convert the quoted annual rate with semi-annual compounding into an effective monthly rate, then apply the amortization formula across the selected amortization period.
Why is Canada different from a US mortgage calculator?
The key math difference is compounding. Many US calculators use a simple APR divided by 12, while Canadian mortgage quotes are commonly based on semi-annual compounding.
When is CMHC mortgage insurance required?
Mortgage default insurance is generally required in Canada when the down payment is below 20 percent, subject to eligibility rules such as purchase price and amortization limits.
What is the minimum down payment in Canada?
For many owner-occupied purchases below C$1.5 million, the minimum is 5% of the first C$500,000 plus 10% of the portion above C$500,000.
What are GDS and TDS ratios?
GDS compares housing costs with gross income. TDS includes housing costs plus other monthly debt payments. They are common affordability checks used by Canadian lenders.
Are these results a mortgage approval?
No. The calculator is an estimate. A lender or broker must confirm your qualifying rate, documents, exact insurance premium, debts, property taxes and approval conditions.