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Mortgage payment calculator

See what a mortgage in Ontario would cost each payment, including mortgage default insurance when you put down less than 20%.

10.0% · minimum $45,000

Enter the rate you've been quoted. Not an offer.

Enter the interest rate you've been quoted to see your payment.

How this tool works

  • Interest is compounded semi-annually, as Canadian fixed-rate mortgages are. Variable-rate mortgages may compound monthly, which changes the payment slightly.
  • The interest rate starts blank. Enter the rate you have been quoted; we do not publish rates.
  • Minimum down payment: 5% of the first $500,000 and 10% of the part up to $1.5 million; 20% at $1.5 million or more (federal rules from 2024-12-15).
  • Default-insurance premium by loan-to-value: 2.80% (up to 85%), 3.10% (up to 90%), 4.00% (up to 95%), plus 0.20% for a 30-year amortization. Ontario PST of 8% on the premium is paid at closing.
  • Accelerated bi-weekly = half the monthly payment every two weeks.

Rules checked 2026-10-23. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.

Questions about the mortgage payment tool

What is the difference between bi-weekly and accelerated bi-weekly?

Bi-weekly spreads the yearly total of your monthly payments over 26 payments. Accelerated bi-weekly pays half of a monthly payment every two weeks, which adds up to about one extra monthly payment a year and pays the mortgage off sooner.

Why is the interest rate blank?

Because we don't publish rates. Enter the rate in your quote or renewal letter, and the calculator shows your payment.

Does the payment include property tax?

No. Some lenders collect property tax with your mortgage payment; that amount would be added on top.

More tools: Affordability · Land transfer tax · Default insurance (CMHC) premium · Stress test · Closing costs

No cost to talk

Ask for options from actual lenders

A tool can only estimate. Tell us your plans and we'll come back with options from actual lenders — no cost to talk.

You can also call us at (416) 371-2077.

What are you looking to do?
Roughly how large is the mortgage?

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We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.