A $875,000 mortgage in Canada at 5.04% costs about $5,108.99 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 | $18,073 | $43,234 | $856,927 |
| 2 | $18,996 | $42,312 | $837,931 |
| 3 | $19,965 | $41,343 | $817,966 |
| 4 | $20,984 | $40,324 | $796,981 |
| 5 | $22,055 | $39,253 | $774,926 |
| 6 | $23,181 | $38,127 | $751,746 |
| 7 | $24,364 | $36,944 | $727,382 |
| 8 | $25,607 | $35,701 | $701,775 |
| 9 | $26,914 | $34,394 | $674,861 |
| 10 | $28,287 | $33,020 | $646,574 |
| 11 | $29,731 | $31,577 | $616,842 |
| 12 | $31,248 | $30,059 | $585,594 |
| 13 | $32,843 | $28,465 | $552,751 |
| 14 | $34,519 | $26,789 | $518,231 |
| 15 | $36,281 | $25,027 | $481,950 |
| 16 | $38,133 | $23,175 | $443,818 |
| 17 | $40,079 | $21,229 | $403,739 |
| 18 | $42,124 | $19,184 | $361,615 |
| 19 | $44,274 | $17,034 | $317,341 |
| 20 | $46,534 | $14,774 | $270,807 |
| 21 | $48,908 | $12,399 | $221,899 |
| 22 | $51,404 | $9,903 | $170,494 |
| 23 | $54,028 | $7,280 | $116,466 |
| 24 | $56,785 | $4,523 | $59,681 |
| 25 | $59,681 | $1,625 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $875,000 mortgage is about $5,108.99 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 $875,000 mortgage is roughly $657,697. 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.