Canadian mortgage calculator 2026
Enter the price, down payment, annual rate, and amortization. Interest is compounded semi-annually. If the down payment is under 20%, the CMHC insurance premium is added to the principal. In Quebec, the 9% tax on that premium is paid at closing and is not financed.
Monthly payment
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Enter 5 for 5%. Nominal rate compounded twice a year.
From 1 to 30 years. Over 25 years, the CMHC premium on an insured loan increases by 0.20%. That insured amortization is for first-time buyers and newly built homes.
- Down payment
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- Loan before insurance
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- CMHC premium
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- Quebec tax on the premium (9%, due at closing)
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- Amount financed
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- Monthly payment
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- Estimated term
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- Estimated total interest
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CMHC premiums for an owner-occupied home and a traditional down payment. The 9% tax applies to a premium paid in 2026.
Sources. CMHC — loan insurance premiums (new tab) · Interest Act, s. 6 (new tab) · Revenu Québec — tax on insurance premiums (new tab) · Last updated: 27 October 2026
Frequently asked questions
Why is interest compounded twice a year?
In Canada, the posted mortgage rate is a nominal rate compounded semi-annually, not in advance. That is the disclosure basis in section 6 of the Interest Act. The rate for each payment is (1 + annual rate / 2) raised to 2/n, minus 1.
What is the difference between biweekly and accelerated?
A biweekly payment is calculated over 26 periods a year, for the same amortization. Accelerated biweekly is half of the monthly payment, paid 26 times: you pay the equivalent of 13 months a year, and the amortization gets shorter.
When is the CMHC premium added?
When the down payment is under 20% and the loan can be insured: 2.80% of the loan from 80.01% to 85% loan-to-value, 3.10% up to 90%, and 4.00% up to 95%. An amortization over 25 years adds 0.20%. The premium is added to the principal. No premium is calculated above 95% loan-to-value, or for a price over $1,500,000 with less than 20% down.
Why is there a 9% tax on the premium?
In Quebec, the tax on insurance premiums is 9% for a premium paid in 2026. It is not added to the loan: it is paid at closing. The rate becomes 9.975% for premiums paid after 31 December 2026.
What is not in the payment?
Welcome tax, notary fees, municipal and school taxes, and home insurance. The payment is principal and interest (and the CMHC premium if it is financed).
CalcQC is an independent website. We are not affiliated with the Tribunal administratif du logement, the SAAQ, Retraite Québec, the QPIP (Conseil de gestion de l’assurance parentale), the Canada Revenue Agency, Revenu Québec, Hydro-Québec, or any other government body. Results are for information only.