Planning tool
Mortgage payment calculator
Estimate a payment using Canadian semi-annual compounding, then see what the same purchase costs to carry each month once property tax and strata fees are added.
Run your numbers
Estimated payment
$4,785.61
monthly · mortgage principal and interest
- Mortgage amount
- $865,520
- Monthly equivalent
- $4,785.61
- Monthly carrying cost
- $5,135.61
- Interest over the amortization
- $570,163
- Paid off in
- 25.0 years
Year-by-year breakdown
| Year | Principal paid | Interest paid | Balance remaining |
|---|---|---|---|
| 1 | $19,315 | $38,113 | $846,205 |
| 2 | $20,192 | $37,236 | $826,014 |
| 3 | $21,108 | $36,319 | $804,905 |
| 4 | $22,067 | $35,360 | $782,838 |
| 5 | $23,069 | $34,358 | $759,769 |
| 6 | $24,116 | $33,311 | $735,653 |
| 7 | $25,211 | $32,216 | $710,442 |
| 8 | $26,356 | $31,071 | $684,086 |
| 9 | $27,553 | $29,875 | $656,534 |
| 10 | $28,804 | $28,624 | $627,730 |
| 11 | $30,111 | $27,316 | $597,619 |
| 12 | $31,479 | $25,949 | $566,140 |
| 13 | $32,908 | $24,520 | $533,232 |
| 14 | $34,402 | $23,025 | $498,831 |
| 15 | $35,964 | $21,463 | $462,867 |
| 16 | $37,597 | $19,831 | $425,270 |
| 17 | $39,304 | $18,123 | $385,966 |
| 18 | $41,088 | $16,339 | $344,878 |
| 19 | $42,954 | $14,473 | $301,924 |
| 20 | $44,904 | $12,523 | $257,019 |
| 21 | $46,943 | $10,484 | $210,076 |
| 22 | $49,074 | $8,353 | $161,002 |
| 23 | $51,303 | $6,125 | $109,699 |
| 24 | $53,632 | $3,795 | $56,067 |
| 25 | $56,067 | $1,360 | $0 |
How to read the result
- Fixed-rate mortgages in Canada are compounded semi-annually, not monthly, which is the method used here.
- Accelerated bi-weekly and weekly payments are the monthly payment divided by two or four, so slightly more is paid each year and the balance clears sooner.
- Mortgage default insurance, appraisal, legal fees and property transfer tax are not included in the payment figure.
- Rates shown are whatever you enter — this page does not quote or offer financing, and Borna is not a mortgage broker or lender.
- Treat every figure as an estimate for planning. Your lender's commitment letter is the only binding number.
Talk through what the payment means for your search
Borna can help set a price range that fits the payment you are comfortable with, and refer you to independent mortgage professionals for the financing itself.