A $1,250,000 home in Canada with a 20% down payment ($250,000) at 5.04% has a principal-and-interest payment of about $5,838.84 per month over 25 years. Property tax and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $20,655 | $49,411 | $979,345 |
| 2 | $21,709 | $48,357 | $957,635 |
| 3 | $22,817 | $47,249 | $934,818 |
| 4 | $23,982 | $46,084 | $910,836 |
| 5 | $25,206 | $44,860 | $885,631 |
| 6 | $26,492 | $43,574 | $859,139 |
| 7 | $27,844 | $42,222 | $831,294 |
| 8 | $29,265 | $40,801 | $802,029 |
| 9 | $30,759 | $39,307 | $771,271 |
| 10 | $32,328 | $37,738 | $738,942 |
| 11 | $33,978 | $36,088 | $704,964 |
| 12 | $35,712 | $34,354 | $669,251 |
| 13 | $37,535 | $32,531 | $631,716 |
| 14 | $39,451 | $30,615 | $592,266 |
| 15 | $41,464 | $28,602 | $550,802 |
| 16 | $43,580 | $26,486 | $507,222 |
| 17 | $45,804 | $24,262 | $461,418 |
| 18 | $48,142 | $21,924 | $413,276 |
| 19 | $50,599 | $19,467 | $362,677 |
| 20 | $53,181 | $16,885 | $309,496 |
| 21 | $55,895 | $14,171 | $253,601 |
| 22 | $58,748 | $11,318 | $194,853 |
| 23 | $61,746 | $8,320 | $133,107 |
| 24 | $64,897 | $5,169 | $68,210 |
| 25 | $68,210 | $1,857 | $0 |
With a 20% down payment at 5.04%, principal and interest are about $5,838.84 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 $250,000, 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.