Canadian Mortgage Calculator
Calculate mortgage payments using Canada's semi-annual compounding convention, which gives a slightly lower payment than monthly compounding at the same quoted rate.
Inputs explained
- Mortgage Amount — The principal borrowed. Example: 400000.
- Annual Interest Rate — The quoted annual rate, compounded semi-annually per Canadian law. Example: 5.
- Amortization Period — Total repayment length in years, commonly 25. Example: 25.
How to use it
- Fill in the fields above — each input has a hint describing exactly what to enter
- Press Calculate to get your result instantly, right on this page
- Copy the result, save the tool to favorites, or share and embed it anywhere
Understanding the result
Example: A $400,000 mortgage at 5% amortized over 25 years costs about $2,326.42 per month (effective monthly rate 0.4124%).
Frequently asked questions
Why is the payment different from what a US mortgage calculator would show at the same quoted rate? Canadian mortgages compound semi-annually by law rather than monthly, so the quoted annual rate converts to a slightly lower effective monthly rate (0.4124% in the example) than simply dividing the rate by 12, resulting in a marginally lower payment.
Does 'amortization period' mean the same thing as the mortgage term? No — in Canada the amortization period (e.g. 25 years) is the total time to pay off the loan, while the term (often 5 years or less) is how long the current interest rate is locked in before renewal; this calculator computes payments based on the amortization period.
Is the Canadian Mortgage Calculator free to use? Yes — it is completely free, with no sign-up, no download and no usage limits. You can use it as often as you need.
Is my data private? Yes. The calculation runs entirely in your browser — the values you enter are never sent to our servers, stored or shared with anyone.
What information do I need? Just the following: Mortgage Amount, Annual Interest Rate, Amortization Period. Each field includes a hint explaining exactly what to enter.
Can I use it on my phone? Yes — the tool is fully responsive and works on any device, and the same calculator is available in the EasyWorkCalcs mobile app.
Privacy
Everything you enter into the Canadian Mortgage Calculator is processed entirely in your browser. Nothing is uploaded, stored or shared — your data stays on your device.