A $850,000 mortgage in Canada at 5.04% costs about $4,963.02 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 | $17,557 | $41,999 | $832,443 |
| 2 | $18,453 | $41,103 | $813,990 |
| 3 | $19,395 | $40,161 | $794,595 |
| 4 | $20,385 | $39,172 | $774,211 |
| 5 | $21,425 | $38,131 | $752,786 |
| 6 | $22,518 | $37,038 | $730,267 |
| 7 | $23,668 | $35,889 | $706,600 |
| 8 | $24,875 | $34,681 | $681,724 |
| 9 | $26,145 | $33,411 | $655,579 |
| 10 | $27,479 | $32,077 | $628,100 |
| 11 | $28,882 | $30,675 | $599,218 |
| 12 | $30,356 | $29,201 | $568,863 |
| 13 | $31,905 | $27,651 | $536,958 |
| 14 | $33,533 | $26,023 | $503,425 |
| 15 | $35,245 | $24,312 | $468,180 |
| 16 | $37,043 | $22,513 | $431,137 |
| 17 | $38,934 | $20,623 | $392,203 |
| 18 | $40,921 | $18,636 | $351,282 |
| 19 | $43,009 | $16,547 | $308,273 |
| 20 | $45,204 | $14,352 | $263,069 |
| 21 | $47,511 | $12,045 | $215,558 |
| 22 | $49,936 | $9,620 | $165,622 |
| 23 | $52,484 | $7,072 | $113,138 |
| 24 | $55,163 | $4,393 | $57,975 |
| 25 | $57,975 | $1,578 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $850,000 mortgage is about $4,963.02 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 $850,000 mortgage is roughly $638,906. 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.