Ontario Mortgage Calculator
Built for the Canadian market. Uses the correct semi-annual compounding formula required by Canadian law, calculates CMHC insurance premiums, and computes Ontario (and Toronto) Land Transfer Tax with first-time buyer rebates.
Mortgage Details
Monthly Payment
$2,374.50
Mortgage Amount
$440,000
Total Interest
$272,351
Cost of Borrowing
$272,351
Total Repaid
$712,351
Closing Costs
CMHC Insurance
Not required - down payment ≥ 20%
$0
Total Estimated Closing Costs
$7,475
Amortization Schedule
Annual breakdown of principal vs. interest over 25 years
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $18,342 | $10,152 | $429,848 |
| 2 | $17,906 | $10,588 | $419,260 |
| 3 | $17,451 | $11,043 | $408,217 |
| 4 | $16,977 | $11,517 | $396,700 |
| 5 | $16,482 | $12,012 | $384,688 |
| 6 | $15,966 | $12,528 | $372,160 |
| 7 | $15,428 | $13,066 | $359,094 |
| 8 | $14,867 | $13,627 | $345,467 |
| 9 | $14,282 | $14,212 | $331,255 |
| 10 | $13,671 | $14,823 | $316,432 |
| 11 | $13,035 | $15,459 | $300,973 |
| 12 | $12,371 | $16,123 | $284,849 |
| 13 | $11,678 | $16,816 | $268,033 |
| 14 | $10,956 | $17,538 | $250,495 |
| 15 | $10,202 | $18,292 | $232,203 |
| 16 | $9,417 | $19,077 | $213,126 |
| 17 | $8,597 | $19,897 | $193,229 |
| 18 | $7,743 | $20,751 | $172,478 |
| 19 | $6,852 | $21,643 | $150,835 |
| 20 | $5,922 | $22,572 | $128,263 |
| 21 | $4,952 | $23,542 | $104,722 |
| 22 | $3,941 | $24,553 | $80,169 |
| 23 | $2,887 | $25,607 | $54,562 |
| 24 | $1,787 | $26,707 | $27,854 |
| 25 | $640 | $27,854 | - |
Disclaimer
This calculator is provided for educational and informational purposes only and does not constitute financial, legal, or professional advice. Results are estimates based on the inputs provided and may not reflect your actual mortgage terms, lender fees, property tax, home insurance, or other costs associated with purchasing a home.
Canadian mortgage interest rates are compounded semi-annually as required by the Interest Act (Canada). This tool applies the standard Canadian interest conversion formula. CMHC insurance premiums reflect rates current as of early 2026 and are subject to change. Ontario and Toronto Land Transfer Tax figures are based on publicly published marginal rate schedules and first-time buyer rebate amounts; always verify with the Ontario Ministry of Finance or a real estate lawyer before closing.
The "accelerated bi-weekly" option assumes the same payment amount each period with no lump-sum prepayments or rate changes. Actual amortization savings may vary. Please consult a licensed mortgage broker or financial professional before making any real estate or financing decisions.
Privacy: All calculations are performed entirely in your browser. No personal or financial data is collected, stored, or transmitted to any server.