Mortgage payment calculator
Canadian fixed-rate mortgages compound interest twice a year, not monthly, so US calculators come out slightly wrong. Accelerated payments sneak in about one extra monthly payment a year.
Assumptions
- Interest compounded semi-annually, as required for fixed-rate mortgages under the Interest Act; variable mortgages may compound monthly.
- Rate stays the same for the whole amortization.
- Accelerated bi-weekly = monthly payment ÷ 2, paid 26 times a year; accelerated weekly = monthly ÷ 4, paid 52 times.
General information, not financial advice. This calculator gives rough estimates from simplified assumptions. It does not know your full situation. Check with a qualified professional and the official sources before making decisions.
Sources
Figures checked October 16, 2026. Rules and limits change; confirm with the source before acting.
Related
Next: prepayment savings, CMHC insurance.