A $900,000 mortgage in Canada at 5.04% costs about $5,254.96 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 | $18,590 | $44,470 | $881,410 |
| 2 | $19,538 | $43,521 | $861,872 |
| 3 | $20,536 | $42,524 | $841,336 |
| 4 | $21,584 | $41,476 | $819,752 |
| 5 | $22,685 | $40,374 | $797,067 |
| 6 | $23,843 | $39,217 | $773,224 |
| 7 | $25,060 | $38,000 | $748,165 |
| 8 | $26,339 | $36,721 | $721,826 |
| 9 | $27,683 | $35,377 | $694,143 |
| 10 | $29,096 | $33,964 | $665,047 |
| 11 | $30,581 | $32,479 | $634,467 |
| 12 | $32,141 | $30,918 | $602,326 |
| 13 | $33,782 | $29,278 | $568,544 |
| 14 | $35,506 | $27,554 | $533,038 |
| 15 | $37,318 | $25,742 | $495,721 |
| 16 | $39,222 | $23,837 | $456,499 |
| 17 | $41,224 | $21,836 | $415,275 |
| 18 | $43,328 | $19,732 | $371,947 |
| 19 | $45,539 | $17,521 | $326,408 |
| 20 | $47,863 | $15,196 | $278,545 |
| 21 | $50,306 | $12,754 | $228,239 |
| 22 | $52,873 | $10,186 | $175,366 |
| 23 | $55,571 | $7,488 | $119,795 |
| 24 | $58,408 | $4,652 | $61,387 |
| 25 | $61,387 | $1,671 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $900,000 mortgage is about $5,254.96 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 $900,000 mortgage is roughly $676,488. 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.