A $100,000 home in Canada with a 20% down payment ($20,000) at 5.04% has a principal-and-interest payment of about $467.11 per month over 25 years. Property tax and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $1,652 | $3,953 | $78,348 |
| 2 | $1,737 | $3,869 | $76,611 |
| 3 | $1,825 | $3,780 | $74,785 |
| 4 | $1,919 | $3,687 | $72,867 |
| 5 | $2,016 | $3,589 | $70,850 |
| 6 | $2,119 | $3,486 | $68,731 |
| 7 | $2,228 | $3,378 | $66,503 |
| 8 | $2,341 | $3,264 | $64,162 |
| 9 | $2,461 | $3,145 | $61,701 |
| 10 | $2,586 | $3,019 | $59,115 |
| 11 | $2,718 | $2,887 | $56,397 |
| 12 | $2,857 | $2,748 | $53,540 |
| 13 | $3,003 | $2,602 | $50,537 |
| 14 | $3,156 | $2,449 | $47,381 |
| 15 | $3,317 | $2,288 | $44,063 |
| 16 | $3,486 | $2,119 | $40,577 |
| 17 | $3,664 | $1,941 | $36,913 |
| 18 | $3,851 | $1,754 | $33,061 |
| 19 | $4,048 | $1,557 | $29,013 |
| 20 | $4,255 | $1,351 | $24,759 |
| 21 | $4,472 | $1,134 | $20,287 |
| 22 | $4,700 | $905 | $15,587 |
| 23 | $4,940 | $666 | $10,647 |
| 24 | $5,192 | $413 | $5,455 |
| 25 | $5,455 | $148 | $0 |
With a 20% down payment at 5.04%, principal and interest are about $467.11 per month. Canadian fixed mortgages compound semi-annually (not monthly) and usually run a 5-year term within a 25-year amortization.
A 20% down payment is $20,000, which avoids mortgage insurance where it applies. In Canada, CMHC mortgage-default insurance is required with less than 20% down and is added to your loan.
No — this is principal and interest. Add property tax, home insurance and any condo fees for your full monthly housing cost.
Sources: Bank of Canada / CMHC; Standard amortization (annuity) formula.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.