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Mortgage Payment Calculator (Conventional & Insured)

Enter your home price, down payment, interest rate, amortization period and how often you pay your mortgage. We’ll estimate your payment and show whether it’s likely a conventional or insured (CMHC-style) mortgage.

Your Mortgage Details

You can fill in either the dollar amount or the % (we’ll link them).
In Canada, insured mortgages are usually capped at 25 years (sometimes 30 years for specific programs), but you can use up to 50 years here for “what-if” calculations.
Monthly and bi-weekly are the most common options many Canadian lenders use.
Estimates only. Actual lender approvals and CMHC rules may differ.

Your Estimated Payment

Conventional estimate
Estimated mortgage payment
$0
Enter details on the left to see your payment.
  • Down payment: $0 (0%)
  • Mortgage before insurance: $0
  • Total mortgage amount: $0
  • Total of all payments over amortization: $0
  • Total interest (and insurance) paid: $0
This is a simplified estimate to help you understand how your payment changes with different down payments, interest rates, amortization periods and payment frequencies.

Conventional vs. Insured (CMHC-Style) Mortgages – in plain language

In Canada, there are two main “flavours” of mortgages you’ll hear about: conventional and insured.

1. Conventional mortgage (no insurance premium built in)

  • You usually have a down payment of 20% or more.
  • No mortgage default insurance premium is added to your mortgage.
  • Your loan amount is simply: home price minus down payment.

2. Insured mortgage (often called “CMHC mortgage”)

  • Your down payment is usually between 5% and 19.99% of the purchase price on an eligible property.
  • Mortgage default insurance (from CMHC or a similar insurer) lets you buy with a smaller down payment.
  • In exchange, the insurer charges a premium (commonly a few percent of your mortgage amount, depending on your down payment). This premium is normally added on top of your mortgage and paid off over time in your regular payments.

What this calculator does for you

  • It looks at your down payment as a % of the price and estimates whether your mortgage would normally be conventional or insured.
  • If you’re in the “insured” range, it adds an estimated CMHC-style premium to the mortgage and shows:
    • Mortgage before insurance
    • Estimated insurance premium
    • Total mortgage after adding the premium
    • Your estimated payment in your chosen frequency
  • You can change the amortization period (1–50 years) and payment frequency to see how paying off your mortgage faster or slower, or more often, changes your payment and your total interest.

This tool is for education and planning. Exact insurance rules, maximum amortizations and premium rates can change over time and can vary by lender, province and your personal situation. Always confirm the final numbers with a licensed mortgage professional.

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