A $890,000 mortgage in Canada at 5.04% costs about $5,196.57 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 | $18,383 | $43,976 | $871,617 |
| 2 | $19,321 | $43,037 | $852,295 |
| 3 | $20,307 | $42,051 | $831,988 |
| 4 | $21,344 | $41,015 | $810,644 |
| 5 | $22,433 | $39,926 | $788,211 |
| 6 | $23,578 | $38,781 | $764,633 |
| 7 | $24,781 | $37,578 | $739,852 |
| 8 | $26,046 | $36,313 | $713,806 |
| 9 | $27,375 | $34,984 | $686,430 |
| 10 | $28,772 | $33,586 | $657,658 |
| 11 | $30,241 | $32,118 | $627,417 |
| 12 | $31,784 | $30,575 | $595,633 |
| 13 | $33,406 | $28,953 | $562,227 |
| 14 | $35,111 | $27,248 | $527,116 |
| 15 | $36,903 | $25,456 | $490,213 |
| 16 | $38,786 | $23,573 | $451,427 |
| 17 | $40,766 | $21,593 | $410,661 |
| 18 | $42,846 | $19,513 | $367,815 |
| 19 | $45,033 | $17,326 | $322,782 |
| 20 | $47,331 | $15,028 | $275,450 |
| 21 | $49,747 | $12,612 | $225,704 |
| 22 | $52,286 | $10,073 | $173,418 |
| 23 | $54,954 | $7,405 | $118,464 |
| 24 | $57,759 | $4,600 | $60,706 |
| 25 | $60,706 | $1,653 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $890,000 mortgage is about $5,196.57 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 $890,000 mortgage is roughly $668,971. 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.