A $790,000 mortgage in Canada at 5.04% costs about $4,612.68 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 | $16,318 | $39,035 | $773,682 |
| 2 | $17,150 | $38,202 | $756,532 |
| 3 | $18,026 | $37,327 | $738,506 |
| 4 | $18,946 | $36,407 | $719,561 |
| 5 | $19,912 | $35,440 | $699,648 |
| 6 | $20,929 | $34,423 | $678,720 |
| 7 | $21,997 | $33,355 | $656,723 |
| 8 | $23,119 | $32,233 | $633,604 |
| 9 | $24,299 | $31,053 | $609,304 |
| 10 | $25,539 | $29,813 | $583,765 |
| 11 | $26,843 | $28,509 | $556,922 |
| 12 | $28,213 | $27,139 | $528,709 |
| 13 | $29,653 | $25,700 | $499,057 |
| 14 | $31,166 | $24,186 | $467,891 |
| 15 | $32,756 | $22,596 | $435,134 |
| 16 | $34,428 | $20,924 | $400,706 |
| 17 | $36,185 | $19,167 | $364,521 |
| 18 | $38,032 | $17,320 | $326,489 |
| 19 | $39,973 | $15,379 | $286,516 |
| 20 | $42,013 | $13,339 | $244,503 |
| 21 | $44,157 | $11,195 | $200,346 |
| 22 | $46,411 | $8,942 | $153,936 |
| 23 | $48,779 | $6,573 | $105,157 |
| 24 | $51,269 | $4,084 | $53,888 |
| 25 | $53,888 | $1,467 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $790,000 mortgage is about $4,612.68 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 $790,000 mortgage is roughly $593,804. 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.