A $425,000 mortgage in Canada at 5.04% costs about $2,481.51 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 | $8,779 | $21,000 | $416,222 |
| 2 | $9,227 | $20,552 | $406,995 |
| 3 | $9,697 | $20,081 | $397,298 |
| 4 | $10,192 | $19,586 | $387,105 |
| 5 | $10,712 | $19,066 | $376,393 |
| 6 | $11,259 | $18,519 | $365,134 |
| 7 | $11,834 | $17,944 | $353,300 |
| 8 | $12,438 | $17,340 | $340,862 |
| 9 | $13,073 | $16,706 | $327,790 |
| 10 | $13,740 | $16,038 | $314,050 |
| 11 | $14,441 | $15,337 | $299,609 |
| 12 | $15,178 | $14,600 | $284,431 |
| 13 | $15,952 | $13,826 | $268,479 |
| 14 | $16,767 | $13,012 | $251,712 |
| 15 | $17,622 | $12,156 | $234,090 |
| 16 | $18,522 | $11,257 | $215,568 |
| 17 | $19,467 | $10,311 | $196,101 |
| 18 | $20,460 | $9,318 | $175,641 |
| 19 | $21,505 | $8,274 | $154,137 |
| 20 | $22,602 | $7,176 | $131,534 |
| 21 | $23,756 | $6,023 | $107,779 |
| 22 | $24,968 | $4,810 | $82,811 |
| 23 | $26,242 | $3,536 | $56,569 |
| 24 | $27,581 | $2,197 | $28,988 |
| 25 | $28,988 | $789 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $425,000 mortgage is about $2,481.51 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 $425,000 mortgage is roughly $319,453. 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.