BARI
BARI
Buyer tools
See your real monthly payment - including CMHC insurance and an amortization schedule. Free, instant, and no email required.
Estimated monthly payment
$3,735
Principal & interest
$3,185
Mortgage amount
$600,000
Get a clean copy plus current Ottawa lender options.
In Canada, mortgage interest is compounded semi-annually, not monthly - which is why a quick US-style calculator will give you the wrong number. This tool uses the correct Canadian method.
If your down payment is under 20%, you’ll pay CMHC mortgage default insurance. The premium is added to your loan, but the 8% Ontario PST on that premium must be paid in cash at closing - budget for it separately. Our calculator shows both figures clearly.
We use the Canadian standard: interest compounded semi-annually, with monthly payments. The result is your principal and interest, plus optional property tax and heating estimates.
Mortgage default insurance is required when your down payment is less than 20%. The premium is added to your mortgage, while the Ontario PST on that premium is paid in cash at closing.
Minimum 5% on the first $500,000 and 10% on the portion from $500,000 to $1,500,000. Homes over $1.5M require 20% down and are not insurable.