A $680,000 mortgage in Canada at 5.04% costs about $3,970.41 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 | $14,046 | $33,599 | $665,954 |
| 2 | $14,762 | $32,883 | $651,192 |
| 3 | $15,516 | $32,129 | $635,676 |
| 4 | $16,308 | $31,337 | $619,369 |
| 5 | $17,140 | $30,505 | $602,229 |
| 6 | $18,015 | $29,630 | $584,214 |
| 7 | $18,934 | $28,711 | $565,280 |
| 8 | $19,900 | $27,745 | $545,380 |
| 9 | $20,916 | $26,729 | $524,464 |
| 10 | $21,983 | $25,662 | $502,481 |
| 11 | $23,105 | $24,540 | $479,376 |
| 12 | $24,284 | $23,361 | $455,091 |
| 13 | $25,524 | $22,121 | $429,567 |
| 14 | $26,826 | $20,819 | $402,741 |
| 15 | $28,195 | $19,449 | $374,546 |
| 16 | $29,634 | $18,010 | $344,911 |
| 17 | $31,147 | $16,498 | $313,764 |
| 18 | $32,736 | $14,909 | $281,028 |
| 19 | $34,407 | $13,238 | $246,621 |
| 20 | $36,163 | $11,482 | $210,458 |
| 21 | $38,009 | $9,636 | $172,449 |
| 22 | $39,948 | $7,697 | $132,501 |
| 23 | $41,987 | $5,658 | $90,514 |
| 24 | $44,130 | $3,515 | $46,384 |
| 25 | $46,384 | $1,263 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $680,000 mortgage is about $3,970.41 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 $680,000 mortgage is roughly $511,123. 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.