All money tools · Mortgage renewal · Rent vs. buy · Take-home pay
NORTHSCOPE MONEY TOOLS · CANADA
Plan your payment & buying costs.
Compare mortgage payments, default insurance and purchase costs for your province or territory. Free to use. No email required.
Rules checked October 2, 2026 · All amounts in Canadian dollars · The 4.50% starting rate is an example, not a lender offer.
THE FULL PICTURE
Your mortgage, beyond the payment
During your 5-year term
- Principal repaid
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- Interest paid
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- Balance at term end
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Green: principal · Sand: interest
Your purchase costs
- Down payment
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- Transfer tax before rebate
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- Modeled registration fees
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- Eligible rebate applied
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- Tax on insurance premium
- Other costs entered
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Planning estimate for an owner-occupied house or condo and a traditional down payment. Foreign-buyer taxes, grants, income-tax credits and GST/HST are not automatically calculated. Use your professional’s quote for those amounts.
Compare payment schedules
Same mortgage, rate and amortization. These comparisons exclude your optional extra payments and annual lump sums.
| Schedule | Each payment | Payments / year | Paid per year | Projected payoff |
|---|
Accelerated every-two-week payments equal half the monthly payment, paid 26 times a year. Accelerated weekly payments equal a quarter, paid 52 times. They add about one monthly payment each year.
If rates were higher
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A qualifying-payment illustration, not an approval or affordability decision. Income, debts, heating and other lender criteria also matter.
Your repayment projection
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Assumes the same rate for the full projection. The monthly budget excludes annual lump sums; budget for those separately.
View your annual amortization schedule
| Year | Principal repaid | Interest paid | Ending balance |
|---|
How to use this Canadian mortgage calculator
Enter the purchase price, your down payment and the annual rate quoted by your lender. Choose an amortization—the time used to calculate repayment—and a mortgage term, which is the length of your current agreement. Select your province and city to estimate location-specific purchase costs. Add property tax and other bills to turn a payment estimate into a household budget.
The calculator works with all 10 provinces and three territories. Toronto and Montréal have their own tax calculations. Elsewhere in Québec, the initial figure uses the provincial base; your municipality may charge more. Nunavut registration costs and P.E.I. transfers of $1 million or more require a local quote. A quote replaces the automatic transfer-tax and registration estimate.
Mortgage payment example: a $600,000 home
With a $120,000 down payment, the starting mortgage is $480,000. At an illustrative 4.50% annual rate, compounded semi-annually, over 25 years, the monthly payment is approximately $2,656.67. That is principal and interest only. Property tax, insurance, utilities and condo fees increase the amount you need to budget.
For a purchase outside Toronto in Ontario, the modeled provincial land transfer tax is $8,475 before any eligible rebate. In Toronto, municipal land transfer tax adds another $8,475 at this price. That difference changes upfront cash, even though the mortgage payment is the same when the loan and interest rate are unchanged.
Minimum down payment and mortgage default insurance
| Home price | Standard minimum down payment |
|---|---|
| $500,000 or less | 5% of the price |
| Above $500,000 and below $1.5 million | 5% of the first $500,000, plus 10% of the remainder |
| $1.5 million or more | 20% of the price |
Below 20% down, this tool adds a standard mortgage default-insurance premium to the loan. It uses 4.00%, 3.10% or 2.80% of the base loan, depending on the loan-to-value ratio, plus 0.20 percentage points for an eligible amortization over 25 years. Ontario, Québec and Saskatchewan also tax the insurance premium; that tax is budgeted in cash rather than financed.
A 30-year insured amortization is available to eligible first-time buyers or buyers of newly built homes. Selecting a checkbox estimates that scenario; it does not establish eligibility. Lenders and insurers can require a larger down payment or apply different product rules. The model covers a traditional down payment and an owner-occupied single-family home or condo, rather than rental properties, multi-unit financing or a refinance.
What changes by province and city?
Ontario and Toronto
Ontario uses graduated land transfer tax. Toronto adds a separate municipal tax, including the higher brackets effective April 1, 2026. The optional first-time setting estimates up to $4,000 off Ontario tax and up to $4,475 off Toronto tax, limited to tax otherwise payable. It assumes the entire purchase qualifies. Age, citizenship or permanent residence, previous ownership, a spouse’s ownership and occupancy rules can affect eligibility; check the linked official rules before applying a rebate.
British Columbia
B.C. uses fair-market-value brackets, including an extra residential rate above $3 million. The first-time setting models the exemption on the first $500,000 for a qualifying home up to $835,000 and its phase-out below $860,000. The separate new-build setting models the qualifying newly built home exemption up to $1.1 million, with a phase-out below $1.15 million. These estimates assume eligible buyers, principal-residence use and no more than 0.5 hectares. Partial ownership eligibility needs a professional quote.
Québec and Montréal
Montréal’s 2026 welcome-tax brackets are built in. Outside Montréal, the provincial base is a starting point: municipalities can set higher rates on the portion above $500,000. Enter the highest applicable tax-base value, including the assessment multiplied by the municipality’s comparative factor. Québec’s announced 2026 first-home refundable income-tax credit is separate from the tax due on the transfer, so the calculator does not subtract a later credit from upfront cash.
Prairies, Atlantic Canada and the territories
Alberta and Saskatchewan use registration-fee estimates; Manitoba uses graduated transfer tax. New Brunswick uses the higher purchase or assessed value. Nova Scotia includes Halifax’s deed tax or a municipal rate you enter, with a separate option for the provincial non-resident tax. P.E.I. below $1 million uses the published 1% rate and an optional qualifying first-time exemption. Newfoundland and Labrador, Yukon and the Northwest Territories include their modeled registry fees. Nunavut needs a local title or lease quote.
Registration charges can depend on the number of titles and the amount actually registered as security. Yukon assurance-fund fees depend on the increase since the prior declared value. Annual municipal property taxes depend on local assessments and property details, so the tool uses the amount you enter instead of assuming that a city-wide percentage applies to your purchase price.
How the mortgage calculation works
For a nominal annual rate r, compounding frequency c and f payments per year, the periodic interest rate is i = (1 + r/c)c/f − 1. With principal P and n payments, the regular payment is P × i ÷ [1 − (1 + i)−n]. At 0% interest, it is P ÷ n. The default compounds twice a year; the alternative compounds monthly. Check your mortgage agreement for its method.
Accelerated payments use one-half or one-quarter of the monthly payment, paid 26 or 52 times a year. Extra payments are added each period; an annual lump sum is applied after each full year. The schedule rounds interest and payments to cents. Lender schedules may differ because of payment dates, rounding, daily interest and contract terms.
The rate is held constant for the entire projection. Future renewals, rate changes, prepayment penalties, grants and sales-tax rebates are not forecast. The stress-test illustration uses the higher of 5.25% or the entered rate plus two percentage points; it does not check income, debt ratios or approval. Use a lender or mortgage professional for a personalized quote and a lawyer or notary for the closing statement.
Mortgage calculator questions
Does location change my mortgage payment?
With the same mortgage amount, rate and repayment terms, the payment calculation stays the same. Location changes transfer taxes, some registration fees and the sales tax on an insurance premium. Local property tax and other household costs also affect your total budget. Available lender products and quoted rates can vary.
Is every-two-week the same as twice monthly?
No. Every two weeks means 26 payments a year; twice monthly means 24. Accelerated every-two-week payments are half the monthly amount and put more toward the mortgage over a full year.
Can I calculate a 30-year mortgage with less than 20% down?
Yes, when the purchase and borrower meet the insured 30-year rules—for example, an eligible first-time buyer or a newly built home. The calculator applies an insurance surcharge and stops that scenario if neither eligibility option is selected.
Does the calculator use today’s mortgage rates?
No. The starting rate is a worked example. Replace it with a current lender quote. Rates depend on the term, borrower, property, insurance status and product.
Does the upfront-cash figure include everything?
It includes the down payment, taxes and registration charges modeled for your location, insurance-premium tax and other costs you enter. Add legal/notary fees, inspections, adjustments, title insurance and applicable sales taxes. Unentered expenses are excluded, and some amounts may be payable after closing. For a new home, use the net amounts from your purchase agreement and professional advice.
Are my mortgage details saved or sent to a broker?
The calculator processes your inputs in your browser. It does not submit the entered price, down payment or other financial inputs to a broker, store them in a URL or require an email address. The website’s normal visitor analytics still apply.
Official sources and methodology
Calculation rules were checked on October 2, 2026. Tax programs have additional eligibility conditions. The P.E.I. government’s overview and its 2025 budget describe different treatment at $1 million, so the tool requests a confirmed quote for that range.
- Financial Consumer Agency of Canada: down payments; terms and amortization; federal mortgage calculator.
- CMHC: insurance premium schedule; 30-year premium surcharge; OSFI: minimum qualifying rate.
- Ontario: transfer-tax rates; first-time refund rules; Toronto: 2026 rates; rebates.
- B.C.: property transfer tax; first-time eligibility; newly built home exemption.
- Montréal: 2026 welcome tax; Québec: base tax brackets; 2026 first-home tax-credit announcement; 2027 insurance-tax change.
- Alberta: registry fees; Saskatchewan: April 2026 fees; Manitoba: transfer tax.
- New Brunswick: transfer-tax law; Nova Scotia: non-resident deed tax; Halifax: 1.5% deed-tax rule; P.E.I.: tax overview; first-time rules; 2025 budget proposal.
- Newfoundland and Labrador: registry fees; Yukon: title and assurance-fund fees; Northwest Territories: land-title fee schedule.
Keep building your household budget
Explore our Ontario minimum-wage guide and gross-pay calculator, read why lower inflation does not necessarily mean lower prices, or browse NorthScope’s business and cost-of-living coverage.