Payments and amortization with Canadian semi-annual compounding.
What it does
In Canadian dollars.
$65,000 (10%)
Annual, compounded semi-annually.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $26,618 | $13,441 | $589,694 |
| 2 | $26,006 | $14,052 | $575,642 |
| 3 | $25,367 | $14,692 | $560,950 |
| 4 | $24,698 | $15,360 | $545,590 |
| 5 | $23,999 | $16,059 | $529,531 |
| 6 | $23,268 | $16,790 | $512,741 |
| 7 | $22,504 | $17,554 | $495,186 |
| 8 | $21,705 | $18,353 | $476,833 |
| 9 | $20,870 | $19,188 | $457,645 |
| 10 | $19,997 | $20,061 | $437,584 |
| 11 | $19,084 | $20,974 | $416,610 |
| 12 | $18,130 | $21,929 | $394,681 |
| 13 | $17,132 | $22,927 | $371,754 |
| 14 | $16,088 | $23,970 | $347,784 |
| 15 | $14,998 | $25,061 | $322,724 |
| 16 | $13,857 | $26,201 | $296,523 |
| 17 | $12,665 | $27,393 | $269,129 |
| 18 | $11,418 | $28,640 | $240,489 |
| 19 | $10,115 | $29,943 | $210,546 |
| 20 | $8,752 | $31,306 | $179,240 |
| 21 | $7,328 | $32,731 | $146,509 |
| 22 | $5,838 | $34,220 | $112,290 |
| 23 | $4,281 | $35,777 | $76,512 |
| 24 | $2,653 | $37,405 | $39,107 |
| 25 | $951 | $39,107 | $0 |
Estimate only. Assumes the rate stays fixed for the whole amortization, and lenders may round payments differently. Insurance applies below a 20% down payment: 5% of the first $500,000 plus 10% of the rest is the minimum, and homes of $1,500,000 or more can't be insured. In Ontario, Quebec and Saskatchewan, provincial sales tax on the premium is paid separately and isn't included here.
CMHC premium rates last checked 2026-10-27: 2.80% (down payment 15% to under 20%), 3.10% (10% to under 15%), 4.00% (5% to under 10%). Sources: CMHC: premiums for homeowner loans, CMHC: purchase loans, minimum down payment and price limit, CMHC: 30-year mortgages for first-time buyers and new builds.