🇨🇦 Canada's Best Free Mortgage Calculator — No Sign-Up Required. No Data Collected.
Canada's #1 Free Mortgage Calculator

Free Mortgage Calculator
Instant Results. No Sign-Up.

Calculate your monthly mortgage payment in seconds. Canadian rates, CMHC insurance, amortization schedules, and more — completely free, no data collected.

No Data Collected
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No Sign-Up Required
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Instant Results
Live calculations as you type

Mortgage Details

Results update instantly as you type

The total purchase price of the property
$
Minimum 5% for homes under $500K, 10% for $500K–$999K, 20% for $1M+
$
20.0% of home price
Current Canadian mortgage rates range from 4.5% to 6.5%. This uses semi-annual compounding as per Canadian standard.
%
Monthly Payment
$3,576
Total monthly with taxes & insurance: $4,101
Mortgage Amount
$600,000
Total Interest
$472,652
Total Cost
$1,072,652
Monthly Payment
$3,576
LTV Ratio
80.0%
Total Payments
300

Payment Breakdown

Principal$600,000
56% of total cost
Total Interest$472,652
44% of total cost
Monthly property tax: $375
Monthly insurance: $150
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BoC Rate Decision Calendar

Announcements at 9:45 AM ET

Official schedule
Next Announcement
Wednesday, April 29, 2026
+ Monetary Policy Report
7 days
until decision
Upcoming Decisions
Apr
29
2026
Wed, Apr 29
9:45 AM ET+ MPR
7d
Jun
10
2026
Wed, Jun 10
9:45 AM ET
49d
Jul
15
2026
Wed, Jul 15
9:45 AM ET+ MPR
84d

Dates sourced from the Bank of Canada official schedule. MPR = Monetary Policy Report. All times 9:45 AM Eastern Time. Outcomes shown are for informational purposes only.

9 Major Cities

Mortgage Calculators by City

Localized rates, property taxes, land transfer taxes, and housing data for Canada's top markets

Compare all cities
Vancouver
Most Expensive

Vancouver, BC

Canada's priciest market with stunning mountain and ocean views. Strong demand, limited supply.

Avg. Home Price
$1.20M
Min. Down Payment
$120K
Est. Monthly Payment
$5,530
Annual Property Tax
$6,800
Land Transfer Tax
BC PTT ~$21,900
Open Vancouver Calculator

Live Canadian Mortgage Rates

Live

Source: Bank of Canada Valet API · Updated Apr 1, 2021

Posted
Posted 5-yr Fixed
6.49%
Conventional mortgage rate
Discounted
Best 5-yr Fixed
2.80%
Best available discounted
Variable base
Prime Rate
2.37%
Overnight + 2.20%
BoC Overnight
0.17%
Policy rate
Bank Rate
0.50%
Overnight + 0.25%

52-Week Rate History

Feb 18Jan 7Nov 26Oct 15Sep 3Jul 23Jun 11Apr 30Mar 196%6.15%6.3%6.45%6.6%
  • Posted 5-yr

Rate Disclaimer: Rates shown are sourced directly from the Bank of Canada Valet API and reflect posted/benchmark rates, not necessarily the best available rates from individual lenders. Actual mortgage rates vary by lender, credit profile, and mortgage terms. The 5-yr Personal Fixed Term rate is a benchmark — contact lenders directly for current offers. All rates are in Canadian dollars (CAD) and are subject to change without notice.

All Financial Calculators

Free tools to help you make smarter financial decisions

🧮

How Much Can I Afford?

Enter income, debts & liabilities to find your max home price using GDS/TDS & stress test.

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🏠

Affordability Calculator

Find out how much home you can afford based on your income.

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🔄

Refinance Calculator

Calculate potential savings from refinancing your mortgage.

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⚖️

Rent vs Buy

Compare the true cost of renting versus buying a home.

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📋

Closing Cost Calculator

Estimate all closing costs when purchasing a property.

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🏡

Realtor Commission

Calculate realtor fees and commissions on your home sale.

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🔨

Renovation Budget

Plan and estimate your home renovation costs.

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📊

GDS & TDS Calculator

Check your Gross and Total Debt Service ratios for mortgage qualification.

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💰

Net Worth Calculator

Calculate your total net worth including all assets and liabilities.

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🎓

Student Budget

Plan your student budget including tuition, housing, and living costs.

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Student Loan Calculator

Calculate student loan payments and total repayment costs.

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💼

Payroll Deductions

Calculate CPP, EI, and income tax deductions on your paycheque.

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Homebuyer Resources

First-Time Buyer Guide

Everything you need to know about buying your first home in Canada.

Housing Market Trends

Current trends, price data, and forecasts for Canadian real estate.

City Pricing Insights

Detailed pricing analysis for Vancouver, Toronto, Calgary and more.

Buyer Checklist

Step-by-step checklist for a smooth home purchase process.

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Frequently Asked Questions

Quick answers to common mortgage questions

How is a Canadian mortgage payment calculated?
Canadian mortgages use semi-annual compounding. The nominal annual rate is compounded twice per year to find the effective annual rate, which is then converted to a monthly rate for payment calculations.
What is the minimum down payment in Canada?
The minimum down payment is 5% for homes priced under $500,000, 10% on the portion between $500,000 and $999,999, and 20% for homes $1 million or more.
What is CMHC mortgage insurance?
CMHC (Canada Mortgage and Housing Corporation) insurance is required when your down payment is less than 20%. The premium ranges from 2.8% to 4.0% of the mortgage amount and is added to your mortgage.
What is the maximum amortization period in Canada?
For insured mortgages (down payment under 20%), the maximum amortization is 25 years. For uninsured mortgages, lenders may offer up to 30 years.
View All FAQs
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