A $150,000 mortgage in Canada at 5.04% costs about $875.83 per month for principal and interest over 25 years. In Canada, CMHC mortgage-default insurance is required with less than 20% down and is added to your loan.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,098 | $7,412 | $146,902 |
| 2 | $3,256 | $7,254 | $143,645 |
| 3 | $3,423 | $7,087 | $140,223 |
| 4 | $3,597 | $6,913 | $136,625 |
| 5 | $3,781 | $6,729 | $132,844 |
| 6 | $3,974 | $6,536 | $128,870 |
| 7 | $4,177 | $6,333 | $124,694 |
| 8 | $4,390 | $6,120 | $120,304 |
| 9 | $4,614 | $5,896 | $115,690 |
| 10 | $4,849 | $5,661 | $110,841 |
| 11 | $5,097 | $5,413 | $105,744 |
| 12 | $5,357 | $5,153 | $100,387 |
| 13 | $5,630 | $4,880 | $94,757 |
| 14 | $5,918 | $4,592 | $88,839 |
| 15 | $6,220 | $4,290 | $82,619 |
| 16 | $6,537 | $3,973 | $76,082 |
| 17 | $6,871 | $3,639 | $69,212 |
| 18 | $7,221 | $3,289 | $61,990 |
| 19 | $7,590 | $2,920 | $54,400 |
| 20 | $7,977 | $2,533 | $46,423 |
| 21 | $8,384 | $2,126 | $38,039 |
| 22 | $8,812 | $1,698 | $29,226 |
| 23 | $9,262 | $1,248 | $19,964 |
| 24 | $9,735 | $775 | $10,230 |
| 25 | $10,230 | $278 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $150,000 mortgage is about $875.83 per month. Canadian fixed mortgages compound semi-annually (not monthly) and usually run a 5-year term within a 25-year amortization.
No — this is principal and interest only. Property tax and home insurance are paid separately on top. In Canada, CMHC mortgage-default insurance is required with less than 20% down and is added to your loan.
Over the full 25-year term at 5.04%, total interest on a $150,000 mortgage is roughly $112,749. Overpaying reduces this substantially.
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.