Mortgage

See what a mortgage could cost each month in Canada, with the minimum down payment and mortgage insurance rules built in.

Mortgage calculator

The figures start from the home price estimate on the home page. Change any of them to see the monthly payment.

Monthly payment

$ 1,706 CAD
Down payment
5% of the price
Mortgage insurance
$12,160 (4%), added to the mortgage
Mortgage amount
$316,160
Interest over 25 years
$195,697
The payment assumes this rate for the whole amortization, compounded twice a year, the Canadian convention for a fixed rate.

To qualify for this mortgage, lenders would look for a household income of about $75,000 a year.Based on the 6.25% stress test rate, property tax of 1% of the price a year, heating of $100 a month, and no other debt.

How the mortgage is paid off

Early payments are mostly interest, so the balance falls slowly at first. After 15 years 6 months, the interest paid passes the balance still owed.

The balance falls from $316,160 today to $0 after 25 years. Over that time the interest paid adds up to $195,697. After 15 years 6 months, the interest paid passes the balance still owed.

Home prices in the largest cities

Aggregate home price, by city
1.Toronto · Ontario6,202,225$1,101,700
2.Montréal · Quebec4,291,732$650,500
3.Vancouver · British Columbia2,642,825$1,164,100
4.Calgary · Alberta1,481,806$695,300
5.Edmonton · Alberta1,418,118$482,400
6.Ottawa · Ontario1,135,014$789,800
7.Québec City · Quebec839,311$465,800
8.Winnipeg · Manitoba834,678$429,400
9.Hamilton · Ontario785,184$815,100
10.Kitchener - Cambridge - Waterloo · Ontario575,847$697,400
11.London · Ontario543,551$680,800
12.Halifax · Nova Scotia465,703$528,600
13.St. Catharines - Niagara · Ontario433,604$617,300
14.Windsor · Ontario422,630$486,300
15.Oshawa · Ontario415,311$782,200
16.Victoria · British Columbia397,237$1,067,900
17.Gatineau · Quebec353,293$476,500
18.Saskatoon · Saskatchewan317,480$466,200
19.Regina · Saskatchewan249,217$405,300
20.Sherbrooke · Quebec227,398$413,500
21.Kelowna · British Columbia222,162$841,600
22.Barrie · Ontario212,856$766,100
23.St. John's · Newfoundland and Labrador212,579$390,400
24.Abbotsford - Mission · British Columbia195,726$893,700
25.Kingston · Ontario172,546$749,500

Updated September 2026. Aggregate home price, April to June 2026: a weighted blend of detached homes and condominiums in each region, with data by RPS Real Property Solutions. Cities are ranked by 2021 Census population, and each price covers Royal LePage's region for the city, such as the Greater Toronto Area.  Royal LePage House Price Survey

Personalized estimates based on your income: from rent and home affordability to everyday savings goals for life in Canada.

Affordit provides general planning estimates for informational purposes only. Results are not financial advice, a mortgage pre-approval, or a lending decision. Actual affordability and mortgage qualification may vary based on your debts, credit, down payment, property costs, lender requirements and current mortgage rules. Read the full disclaimer.