What is a mortgage in Canada?

A mortgage is a loan used to buy a home in Canada. You make a down payment and repay the rest over time with interest.

How do mortgage payments work?

Mortgage payments include principal and interest. Over time, more of your payment goes toward the principal.

Your payment depends on the mortgage amount, interest rate, and amortization period.

Popular Calculators

Simple calculators for buying, renting, owning, and comparing real estate costs.

Estimate your monthly mortgage payment.

Compare renting with buying a home.

Estimate your full monthly housing cost.

Start with one calculator. Then compare the full picture.

Before You Run Your Numbers

Market Pulse

A quick look at the numbers people are testing before they buy, refinance, or compare.

Home price tested

$710K

Rate entered

5.24%

Down payment

14%

Amortization

25 yrs

Popular scenario: testing how a lower rate or bigger down payment changes the monthly payment.

Updated Daily

Tuesday: Canadian Mortgage Debt

Canadians collectively carry roughly $2.4 trillion in residential mortgage debt.

Source: Bank of Canada