A $375,000 mortgage in Canada at 5.04% costs about $2,189.57 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 | $7,746 | $18,529 | $367,254 |
| 2 | $8,141 | $18,134 | $359,113 |
| 3 | $8,557 | $17,718 | $350,557 |
| 4 | $8,993 | $17,282 | $341,563 |
| 5 | $9,452 | $16,823 | $332,111 |
| 6 | $9,935 | $16,340 | $322,177 |
| 7 | $10,442 | $15,833 | $311,735 |
| 8 | $10,975 | $15,300 | $300,760 |
| 9 | $11,535 | $14,740 | $289,226 |
| 10 | $12,123 | $14,152 | $277,102 |
| 11 | $12,742 | $13,533 | $264,361 |
| 12 | $13,392 | $12,883 | $250,968 |
| 13 | $14,076 | $12,199 | $236,893 |
| 14 | $14,794 | $11,481 | $222,098 |
| 15 | $15,549 | $10,726 | $206,549 |
| 16 | $16,343 | $9,932 | $190,207 |
| 17 | $17,177 | $9,098 | $173,030 |
| 18 | $18,053 | $8,222 | $154,977 |
| 19 | $18,975 | $7,300 | $136,002 |
| 20 | $19,943 | $6,332 | $116,059 |
| 21 | $20,961 | $5,314 | $95,098 |
| 22 | $22,031 | $4,244 | $73,067 |
| 23 | $23,155 | $3,120 | $49,913 |
| 24 | $24,337 | $1,938 | $25,576 |
| 25 | $25,576 | $696 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $375,000 mortgage is about $2,189.57 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 $375,000 mortgage is roughly $281,871. 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.