Mortgage Calculator

Ontario Mortgage Calculator — Estimate Your Monthly Payments, Interest, and CMHC Premium

Calculate your monthly mortgage payments instantly with our free Ontario Mortgage Calculator. Estimate your total home cost, interest payments, and CMHC insurance premium in seconds. Designed for Canadian homebuyers, this easy-to-use calculator helps you plan your budget and understand how your down payment, interest rate, and amortization period affect your mortgage. Perfect for anyone buying or refinancing a home in Ontario.

Have questions?

Call Now: (416) 543 5473

Home Price ($)

Down Payment ($)

Interest Rate (%)

Amortization Period (Years)

Payment Frequency

Property Tax (%) (optional)

Extra Monthly Payment ($) (optional)

Results

Mortgage Insurance (CMHC): $0

Payment Amount: $0

Total Interest Paid: $0

Total Cost of Home: $0

Frequently Asked Questions about Ontario Mortgages

CMHC mortgage insurance is required if your down payment is less than 20% of the home price. It protects the lender in case of default and is calculated based on the size of your down payment. Our calculator includes an estimate of this insurance.

Your monthly payment is based on the principal loan amount (home price minus down payment), interest rate, amortization period, and payment frequency. Our calculator also allows for extra payments and property taxes to give an accurate estimate.

The minimum down payment in Ontario is 5% for homes up to $500,000. For amounts over $500,000, you must pay 5% on the first $500,000 and 10% on the remaining portion. The calculator will help you see how your down payment affects your mortgage and CMHC insurance.

Yes! You can enter the loan amount, interest rate, and amortization period to estimate monthly payments and total interest for refinancing or additional mortgages.