A $375,000 home in Canada with a 20% down payment ($75,000) at 5.04% has a principal-and-interest payment of about $1,751.65 per month over 25 years. Property tax and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $6,197 | $14,823 | $293,803 |
| 2 | $6,513 | $14,507 | $287,291 |
| 3 | $6,845 | $14,175 | $280,446 |
| 4 | $7,195 | $13,825 | $273,251 |
| 5 | $7,562 | $13,458 | $265,689 |
| 6 | $7,948 | $13,072 | $257,742 |
| 7 | $8,353 | $12,667 | $249,389 |
| 8 | $8,780 | $12,240 | $240,609 |
| 9 | $9,228 | $11,792 | $231,381 |
| 10 | $9,698 | $11,321 | $221,683 |
| 11 | $10,193 | $10,826 | $211,490 |
| 12 | $10,714 | $10,306 | $200,776 |
| 13 | $11,260 | $9,759 | $189,515 |
| 14 | $11,835 | $9,185 | $177,680 |
| 15 | $12,439 | $8,581 | $165,241 |
| 16 | $13,074 | $7,946 | $152,167 |
| 17 | $13,741 | $7,279 | $138,426 |
| 18 | $14,442 | $6,577 | $123,983 |
| 19 | $15,180 | $5,840 | $108,804 |
| 20 | $15,954 | $5,066 | $92,850 |
| 21 | $16,768 | $4,251 | $76,081 |
| 22 | $17,624 | $3,396 | $58,457 |
| 23 | $18,524 | $2,496 | $39,933 |
| 24 | $19,469 | $1,551 | $20,464 |
| 25 | $20,464 | $557 | $0 |
With a 20% down payment at 5.04%, principal and interest are about $1,751.65 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 $75,000, 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.