Mortgage rates & payment calculator
See indicative rates from Canadian lenders, then calculate your exact monthly payment. All for free - no login, no credit check to browse.
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Real rates from our lender network, calculated for your scenario. Adjust any input - results update automatically.
Mortgage payment calculator
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Illustrative only. CMHC premium and final payments are approximated. Speak to a Frank advisor for a precise quote.
| Year | Balance remaining | Cumulative interest |
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How your balance reduces over time
In the early years of a mortgage, the majority of each payment covers interest. As your balance decreases, more of each payment goes toward principal. This is why extra lump-sum prepayments make a disproportionately large difference early in the amortization.
For example, on a $560,000 mortgage at 4.79% over 25 years, roughly 69% of your first monthly payment is interest. By year 15, that ratio is below 50%.
Use the payment calculator above to see a year-by-year amortization schedule for your specific numbers - purchase price, down payment, rate, and amortization period.
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Mortgage rates by province
Land transfer tax, first-time buyer programs, and closing costs. Select your province for a full breakdown.
Alberta
No land transfer tax. Buyers pay a small title transfer fee and mortgage registration fee - one of the lowest closing cost profiles in Canada.
British Columbia
Property transfer tax in tiers: 1% on first $200k, 2% on $200k–$2M, 3% above $2M, plus additional 2% (total 5%) on residential over $3M. First-time buyers are exempt on first $500,000 for qualifying homes with value <= $835,000.
Manitoba
Land transfer tax up to 2% with marginal brackets starting at $30,000. No first-time buyer rebate.
New Brunswick
Flat 1% property transfer tax on greater of urchase price or assessed value. No first-time buer rebate. One of the simplest structures in Canada.
Newfoundland & Labrador
No land transfer tax. A deed registration fee applies - much lower than LTT in most provinces.
Nova Scotia
Deed transfer tax set by municipality, ranging from 0.5–1.5%. Halifax buyers pay 1.5%. Non-residents pay more.
Ontario
Land transfer tax up to 2.5%, provincial FTB rebate up to $4,000. Toronto buyers also pay a municipal LTT and can receive a FTHB rebate.
Prince Edward Island
1% transfer tax on the greater of purchase price or assessed value. FTB exempt under $200,000 but with conditions.
Saskatchewan
No land transfer tax. A title registration fee and flat mortgage registration fee apply. Very low cost.