A $990,000 mortgage in Canada at 5.04% costs about $5,780.45 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 | $20,449 | $48,917 | $969,551 |
| 2 | $21,492 | $47,873 | $948,059 |
| 3 | $22,589 | $46,776 | $925,470 |
| 4 | $23,742 | $45,623 | $901,728 |
| 5 | $24,954 | $44,412 | $876,774 |
| 6 | $26,227 | $43,138 | $850,547 |
| 7 | $27,566 | $41,800 | $822,982 |
| 8 | $28,972 | $40,393 | $794,009 |
| 9 | $30,451 | $38,914 | $763,558 |
| 10 | $32,005 | $37,360 | $731,553 |
| 11 | $33,639 | $35,727 | $697,914 |
| 12 | $35,355 | $34,010 | $662,559 |
| 13 | $37,160 | $32,206 | $625,400 |
| 14 | $39,056 | $30,309 | $586,343 |
| 15 | $41,049 | $28,316 | $545,294 |
| 16 | $43,144 | $26,221 | $502,150 |
| 17 | $45,346 | $24,019 | $456,804 |
| 18 | $47,660 | $21,705 | $409,144 |
| 19 | $50,093 | $19,273 | $359,051 |
| 20 | $52,649 | $16,716 | $306,402 |
| 21 | $55,336 | $14,029 | $251,066 |
| 22 | $58,160 | $11,205 | $192,905 |
| 23 | $61,128 | $8,237 | $131,777 |
| 24 | $64,248 | $5,117 | $67,529 |
| 25 | $67,529 | $1,838 | $0 |
At 5.04% over 25 years, the principal-and-interest payment on a $990,000 mortgage is about $5,780.45 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 $990,000 mortgage is roughly $744,135. 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.