Mortgage payment
In Canada, mortgages use semi-annual compounding: the posted rate is compounded twice a year. This calculator gives your monthly payment (principal + interest) based on loan amount, rate, and amortization.
Enter a fixed amount or a percentage of the purchase price.
20.0%
25 years
Results
Monthly payment$1,953.25
Visualisation
Details
Principal borrowed$320,000.00
Total interest$265,975.82
Total cost$585,975.82
Down payment can be entered as % of price or as an amount ($). Principal = purchase price − down payment. Monthly payment uses Canadian semi-annual compounding: monthly rate = (1 + posted rate/2)^(1/6) − 1. Annuity formula: payment = principal × [rate × (1+rate)^n] / [(1+rate)^n − 1], where n = number of months (amortization × 12).