True Canadian math: interest compounded semi-annually, not in advance — the legal standard for Canadian mortgages. Includes CMHC insurance and a full amortization schedule.
| Mortgage amount (before insurance) | $— |
| CMHC insurance premium | $— |
| Total mortgage | $— |
| Total interest paid | $— |
| Total of all payments | $— |
| Payoff date | — |
| Year | Payment | Principal | Interest | Balance |
|---|
Canadian mortgages compound semi-annually: the periodic rate is (1 + r/2)2/n − 1 where n is payments per year. CMHC premiums used: 2.80% of the mortgage for 80.01–85% loan-to-value, 3.10% for 85.01–90%, 4.00% for 90.01–95% (standard 25-year amortization). Assumes a fixed rate for the full amortization; in reality you'll renew every 1–5 years at prevailing rates. Excludes property tax, heat, and condo fees used in GDS/TDS qualification.
