Canadian Mortgage Calculator
Calculate Canadian mortgage payments with CMHC insurance, land transfer tax, and provincial costs
The Canadian Mortgage Calculator helps you estimate mortgage payments for properties across Canada. It includes CMHC mortgage default insurance, provincial land transfer taxes, legal fees, and other Canadian-specific costs. Whether you're buying in Toronto, Vancouver, Montreal, or anywhere else in Canada, get accurate calculations for your home purchase.
Mortgage Calculation
Property Details
Mortgage Details
Additional Costs
Mortgage Summary
Land Transfer Tax
Total Upfront Costs
Monthly Housing Costs
Payment Frequency Benefits
Mortgage Summary
Recommendations
Consider accelerated bi-weekly payments to save thousands in interest and pay off your mortgage faster
Get pre-approved for your mortgage before house hunting
Budget for ongoing costs like property tax, insurance, and maintenance
How to Use
1. Enter your property price and down payment amount
2. Select your province/territory and city (if applicable)
3. Choose your buyer type for accurate tax calculations
4. Input mortgage details including rate and amortization
5. Select your preferred payment frequency
6. Add additional costs like legal fees and insurance
7. Review your payments and total costs
CMHC Insurance Rates
Mortgage Default Insurance Premiums:
• 5-9.99% down: 4.00% of mortgage amount
• 10-14.99% down: 3.10% of mortgage amount
• 15-19.99% down: 2.80% of mortgage amount
• 20%+ down: No insurance required
Insurance can be paid upfront or added to the mortgage amount.
Land Transfer Tax by Province
Ontario
• Up to $55,000: 0.5%
• $55,001-$250,000: 1.0%
• $250,001-$400,000: 1.5%
• Over $400,000: 2.0%
• Toronto adds municipal LTT (same rates)
• First-time buyer rebate up to $4,000
British Columbia
• Up to $200,000: 1%
• $200,001-$2,000,000: 2%
• Over $2,000,000: 3%
• First-time buyer exemption up to $500,000
Other Provinces
Most other provinces have minimal or no land transfer tax.
Payment Frequency Benefits
Accelerated Bi-weekly
Pay half your monthly payment every two weeks. Results in 26 payments per year (equivalent to 13 monthly payments).
Accelerated Weekly
Pay one-quarter of your monthly payment every week. Results in 52 payments per year.
Benefits
Accelerated payments can save thousands in interest and reduce amortization by 4-6 years.
Foreign Buyer Tax
Current Rates
• British Columbia: 20% (most areas)
• Ontario: 25% (Greater Golden Horseshoe)
• Prince Edward Island: 10%
• Nova Scotia: 5%
Applies to non-Canadian citizens and non-permanent residents in designated areas.
Example Calculation
Toronto First-time Buyer:
• Property price: $800,000
• Down payment (10%): $80,000
• Mortgage: $720,000
• CMHC insurance: $22,320
• Interest rate: 5.25%
• Monthly payment: $4,347
• Land transfer tax: $13,950
• Total upfront: $118,620
Frequently Asked Questions
What's the minimum down payment in Canada?
5% for homes under $500,000, 5% on first $500,000 + 10% on remainder for homes $500,000-$999,999, 20% for homes $1M+.
What's the maximum amortization period?
25 years for insured mortgages (less than 20% down), up to 30 years for uninsured mortgages.
Can I avoid CMHC insurance?
Yes, by putting down 20% or more. This eliminates the need for mortgage default insurance.