Rent or buy?
The actual all-in monthly. CMHC, semi-annual compounding.
$4,233/mo all-in — add your take-home to see how it fits.
- Home price$650,000
The sticker number on the listing.
- Down payment (10%)$65,000
What you bring to closing. Canada requires 5% on the first $500k, 10% on the rest up to $1.5M.
- CMHC insurance premium$16,380
When you put down less than 20%, CMHC insures the lender and the premium gets rolled into your loan.
- Loan amount$601,380
Price − down payment, plus any insurance premium that's added to the loan.
- Monthly rate (5.25% APR)0.4328%
Canadian mortgages compound twice a year, so the posted rate is converted to an equivalent monthly rate before any payment is calculated.
- Principal + interest$3,584
Loan amortized over 25 years using the standard payment formula. Early on, most of this is interest; later, most is principal.
- Property tax / mo$542
Annual tax bill ÷ 12. Regional default for Other / not listed (Canada) (1% of price/yr).
- Insurance / mo$108
Standard home insurance — covers the building and your stuff. Regional default for Other / not listed (Canada).
Total = P+I + Property tax + Insurance
Standards used: 28/36 mortgage underwriting ratio, 30% rent-to-income guideline, and regional cost data. Adjust assumptions in Settings.
Property
Loan
Carrying costs
Utilities
Breakdown
Stress test (+2%)
At 7.25%, your payment becomes $4,955/mo — that's $722 more.
Your context
Saved buy options
Saves every input plus the $4,233/mo total. Reload any time, or link it to your budget so changes here update your monthly automatically.
Owned property — track over time
Add a home or property you already own. We'll calculate principal remaining, principal paid, interest paid and equity as you move through the mortgage.