A $845,000 mortgage in Canada at 5.04% costs about $4,933.82 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 | $17,454 | $41,752 | $827,546 |
| 2 | $18,344 | $40,861 | $809,202 |
| 3 | $19,281 | $39,925 | $789,921 |
| 4 | $20,265 | $38,941 | $769,657 |
| 5 | $21,299 | $37,907 | $748,358 |
| 6 | $22,386 | $36,820 | $725,972 |
| 7 | $23,528 | $35,678 | $702,444 |
| 8 | $24,729 | $34,477 | $677,715 |
| 9 | $25,991 | $33,215 | $651,724 |
| 10 | $27,318 | $31,888 | $624,406 |
| 11 | $28,712 | $30,494 | $595,694 |
| 12 | $30,177 | $29,029 | $565,517 |
| 13 | $31,717 | $27,489 | $533,800 |
| 14 | $33,336 | $25,870 | $500,465 |
| 15 | $35,037 | $24,169 | $465,428 |
| 16 | $36,825 | $22,381 | $428,602 |
| 17 | $38,705 | $20,501 | $389,898 |
| 18 | $40,680 | $18,526 | $349,218 |
| 19 | $42,756 | $16,450 | $306,462 |
| 20 | $44,938 | $14,268 | $261,524 |
| 21 | $47,231 | $11,974 | $214,293 |
| 22 | $49,642 | $9,564 | $164,651 |
| 23 | $52,175 | $7,031 | $112,476 |
| 24 | $54,838 | $4,368 | $57,637 |
| 25 | $57,637 | $1,569 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $845,000 mortgage is about $4,933.82 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 $845,000 mortgage is roughly $635,146. 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.