A $165,000 mortgage in Canada at 5.04% costs about $963.41 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 | $3,408 | $8,153 | $161,592 |
| 2 | $3,582 | $7,979 | $158,010 |
| 3 | $3,765 | $7,796 | $154,245 |
| 4 | $3,957 | $7,604 | $150,288 |
| 5 | $4,159 | $7,402 | $146,129 |
| 6 | $4,371 | $7,190 | $141,758 |
| 7 | $4,594 | $6,967 | $137,163 |
| 8 | $4,829 | $6,732 | $132,335 |
| 9 | $5,075 | $6,486 | $127,259 |
| 10 | $5,334 | $6,227 | $121,925 |
| 11 | $5,606 | $5,954 | $116,319 |
| 12 | $5,893 | $5,668 | $110,426 |
| 13 | $6,193 | $5,368 | $104,233 |
| 14 | $6,509 | $5,052 | $97,723 |
| 15 | $6,842 | $4,719 | $90,882 |
| 16 | $7,191 | $4,370 | $83,691 |
| 17 | $7,558 | $4,003 | $76,133 |
| 18 | $7,943 | $3,617 | $68,190 |
| 19 | $8,349 | $3,212 | $59,841 |
| 20 | $8,775 | $2,786 | $51,066 |
| 21 | $9,223 | $2,338 | $41,843 |
| 22 | $9,693 | $1,867 | $32,150 |
| 23 | $10,188 | $1,373 | $21,962 |
| 24 | $10,708 | $853 | $11,254 |
| 25 | $11,254 | $306 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $165,000 mortgage is about $963.41 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 $165,000 mortgage is roughly $124,023. 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.