A $225,000 mortgage in Canada at 5.04% costs about $1,313.74 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 | $4,647 | $11,117 | $220,353 |
| 2 | $4,885 | $10,880 | $215,468 |
| 3 | $5,134 | $10,631 | $210,334 |
| 4 | $5,396 | $10,369 | $204,938 |
| 5 | $5,671 | $10,094 | $199,267 |
| 6 | $5,961 | $9,804 | $193,306 |
| 7 | $6,265 | $9,500 | $187,041 |
| 8 | $6,585 | $9,180 | $180,457 |
| 9 | $6,921 | $8,844 | $173,536 |
| 10 | $7,274 | $8,491 | $166,262 |
| 11 | $7,645 | $8,120 | $158,617 |
| 12 | $8,035 | $7,730 | $150,581 |
| 13 | $8,445 | $7,319 | $142,136 |
| 14 | $8,876 | $6,888 | $133,260 |
| 15 | $9,329 | $6,435 | $123,930 |
| 16 | $9,806 | $5,959 | $114,125 |
| 17 | $10,306 | $5,459 | $103,819 |
| 18 | $10,832 | $4,933 | $92,987 |
| 19 | $11,385 | $4,380 | $81,602 |
| 20 | $11,966 | $3,799 | $69,636 |
| 21 | $12,576 | $3,188 | $57,060 |
| 22 | $13,218 | $2,547 | $43,842 |
| 23 | $13,893 | $1,872 | $29,949 |
| 24 | $14,602 | $1,163 | $15,347 |
| 25 | $15,347 | $418 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $225,000 mortgage is about $1,313.74 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 $225,000 mortgage is roughly $169,122. 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.