A $660,000 mortgage in Canada at 5.04% costs about $3,853.64 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 | $13,633 | $32,611 | $646,367 |
| 2 | $14,328 | $31,915 | $632,039 |
| 3 | $15,059 | $31,184 | $616,980 |
| 4 | $15,828 | $30,416 | $601,152 |
| 5 | $16,636 | $29,608 | $584,516 |
| 6 | $17,485 | $28,759 | $567,031 |
| 7 | $18,377 | $27,866 | $548,654 |
| 8 | $19,315 | $26,929 | $529,339 |
| 9 | $20,301 | $25,943 | $509,038 |
| 10 | $21,337 | $24,907 | $487,701 |
| 11 | $22,426 | $23,818 | $465,275 |
| 12 | $23,570 | $22,673 | $441,705 |
| 13 | $24,773 | $21,470 | $416,932 |
| 14 | $26,038 | $20,206 | $390,894 |
| 15 | $27,366 | $18,877 | $363,528 |
| 16 | $28,763 | $17,481 | $334,765 |
| 17 | $30,231 | $16,013 | $304,534 |
| 18 | $31,774 | $14,470 | $272,760 |
| 19 | $33,395 | $12,848 | $239,365 |
| 20 | $35,100 | $11,144 | $204,265 |
| 21 | $36,891 | $9,353 | $167,374 |
| 22 | $38,774 | $7,470 | $128,600 |
| 23 | $40,753 | $5,491 | $87,848 |
| 24 | $42,832 | $3,411 | $45,016 |
| 25 | $45,016 | $1,225 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $660,000 mortgage is about $3,853.64 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 $660,000 mortgage is roughly $496,092. 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.