What will your mortgage cost?
Use the guides below to see detailed payment breakdowns for different mortgage amounts. Each page includes monthly payments at various interest rates, total interest over the life of the loan, 25-year vs 30-year amortization comparisons, and tips for reducing your mortgage costs.
Monthly payments by mortgage amount
| Mortgage Amount | Monthly Payment (4%)* | Monthly Payment (5%)* | Monthly Payment (6%)* | Guide |
|---|---|---|---|---|
| $100,000 | $526 | $582 | $640 | View breakdown → |
| $200,000 | $1,052 | $1,163 | $1,280 | View breakdown → |
| $300,000 | $1,578 | $1,745 | $1,919 | View breakdown → |
| $400,000 | $2,104 | $2,326 | $2,559 | View breakdown → |
| $500,000 | $2,630 | $2,908 | $3,199 | View breakdown → |
| $600,000 | $3,156 | $3,490 | $3,839 | View breakdown → |
| $700,000 | $3,682 | $4,071 | $4,479 | View breakdown → |
| $800,000 | $4,209 | $4,653 | $5,119 | View breakdown → |
| $900,000 | $4,735 | $5,235 | $5,758 | View breakdown → |
| $1,000,000 | $5,261 | $5,816 | $6,398 | View breakdown → |
*25-year amortization, monthly payments. Includes principal and interest only.
How mortgage costs work
Your mortgage cost is made up of two parts:
- Principal — the amount you borrowed, which gets paid down over the amortization period
- Interest — what the lender charges for lending you the money
In the early years of your mortgage, the majority of each payment goes toward interest. Over time, the balance shifts and more goes toward principal. This is called amortization.
25-year vs 30-year amortization comparison
| Mortgage | 25-Year Monthly | 30-Year Monthly | Monthly Savings | Extra Interest (30-yr) |
|---|---|---|---|---|
| $300,000 | $1,745 | $1,602 | $143 | ~$56,000 |
| $500,000 | $2,908 | $2,670 | $238 | ~$94,000 |
| $700,000 | $4,071 | $3,738 | $333 | ~$131,000 |
| $1,000,000 | $5,816 | $5,340 | $476 | ~$187,000 |
At 5% interest rate. Lower payments with 30-year amortization come at a significant total cost.
Related pages
- Income Needed to Buy a Home — by home price
- How Much House Can I Afford — by salary
- Mortgage Affordability Calculator
- Mortgage Payment Calculator
- Fixed vs Variable Mortgage
- Pay Off Mortgage Faster
- How to Save for a Down Payment
Decision framework
A strong hub helps readers choose a path quickly instead of reading every article linearly. Start by mapping your situation, time horizon, and risk tolerance, then pick the relevant subtopic branch.
| Decision input | What to clarify first |
|---|---|
| Time horizon | Immediate action, this year, or long-term planning |
| Financial impact | High-stakes decision or low-stakes optimization |
| Complexity level | Simple setup, moderate comparison, or advanced strategy |
| Evidence needed | Rule-of-thumb decision or data-backed model |
When the decision has tax, legal, or debt implications, prioritize the framework articles first and then move into specific calculators and implementation guides.
Implementation checklist
Use this checklist to translate research into execution:
- Define the exact outcome you are trying to achieve.
- Collect baseline numbers before changing strategy.
- Compare at least two practical options using the same assumptions.
- Document your final decision and next review date.
- Revisit after any major income, family, rate, or policy change.
Most mistakes come from skipping the baseline and jumping directly to action. A documented process improves decision quality and reduces costly reversals.
Common mistakes and how to avoid them
| Common mistake | Better approach |
|---|---|
| Chasing one metric in isolation | Evaluate full cash-flow, tax, and risk impact |
| Using generic assumptions | Adapt inputs to your province, income, and timeline |
| Delaying implementation too long | Start with a conservative version and refine quarterly |
| Ignoring downside scenarios | Test best case, base case, and stress case |
A hub page should function like a control panel: clear sequencing, practical ranges, and explicit trade-offs for real-world decisions.
Tracking metrics that matter
Track a small set of indicators so you can adjust early:
- Net monthly cash-flow impact n- Effective tax rate or fee drag where relevant
- Debt and savings progress against target timeline
- Risk exposure (rate sensitivity, concentration, liquidity)
- Decision review cadence (monthly, quarterly, annually)
If the chosen strategy underperforms for two consecutive review periods, reassess assumptions before adding complexity.
Annual review cadence
A structured annual review keeps Mortgage Cost Guide Canada 2026 | Monthly Payments by Mortgage Amount current and actionable:
| Review window | Priority actions |
|---|---|
| Q1 | Update limits, rates, and policy changes |
| Q2 | Rebalance plans based on year-to-date progress |
| Q3 | Stress-test assumptions for next year |
| Q4 | Execute deadline-sensitive actions and optimize carry-forward items |
This cadence turns one-time reading into an operating system for better long-term outcomes.
Decision framework
A strong hub helps readers choose a path quickly instead of reading every article linearly. Start by mapping your situation, time horizon, and risk tolerance, then pick the relevant subtopic branch.
| Decision input | What to clarify first |
|---|---|
| Time horizon | Immediate action, this year, or long-term planning |
| Financial impact | High-stakes decision or low-stakes optimization |
| Complexity level | Simple setup, moderate comparison, or advanced strategy |
| Evidence needed | Rule-of-thumb decision or data-backed model |
When the decision has tax, legal, or debt implications, prioritize the framework articles first and then move into specific calculators and implementation guides.
Implementation checklist
Use this checklist to translate research into execution:
- Define the exact outcome you are trying to achieve.
- Collect baseline numbers before changing strategy.
- Compare at least two practical options using the same assumptions.
- Document your final decision and next review date.
- Revisit after any major income, family, rate, or policy change.
Most mistakes come from skipping the baseline and jumping directly to action. A documented process improves decision quality and reduces costly reversals.
Common mistakes and how to avoid them
| Common mistake | Better approach |
|---|---|
| Chasing one metric in isolation | Evaluate full cash-flow, tax, and risk impact |
| Using generic assumptions | Adapt inputs to your province, income, and timeline |
| Delaying implementation too long | Start with a conservative version and refine quarterly |
| Ignoring downside scenarios | Test best case, base case, and stress case |
A hub page should function like a control panel: clear sequencing, practical ranges, and explicit trade-offs for real-world decisions.
Tracking metrics that matter
Track a small set of indicators so you can adjust early:
- Net monthly cash-flow impact n- Effective tax rate or fee drag where relevant
- Debt and savings progress against target timeline
- Risk exposure (rate sensitivity, concentration, liquidity)
- Decision review cadence (monthly, quarterly, annually)
If the chosen strategy underperforms for two consecutive review periods, reassess assumptions before adding complexity.
Annual review cadence
A structured annual review keeps Mortgage Cost Guide Canada 2026 | Monthly Payments by Mortgage Amount current and actionable:
| Review window | Priority actions |
|---|---|
| Q1 | Update limits, rates, and policy changes |
| Q2 | Rebalance plans based on year-to-date progress |
| Q3 | Stress-test assumptions for next year |
| Q4 | Execute deadline-sensitive actions and optimize carry-forward items |
This cadence turns one-time reading into an operating system for better long-term outcomes.
Decision framework
A strong hub helps readers choose a path quickly instead of reading every article linearly. Start by mapping your situation, time horizon, and risk tolerance, then pick the relevant subtopic branch.
| Decision input | What to clarify first |
|---|---|
| Time horizon | Immediate action, this year, or long-term planning |
| Financial impact | High-stakes decision or low-stakes optimization |
| Complexity level | Simple setup, moderate comparison, or advanced strategy |
| Evidence needed | Rule-of-thumb decision or data-backed model |
When the decision has tax, legal, or debt implications, prioritize the framework articles first and then move into specific calculators and implementation guides.
Implementation checklist
Use this checklist to translate research into execution:
- Define the exact outcome you are trying to achieve.
- Collect baseline numbers before changing strategy.
- Compare at least two practical options using the same assumptions.
- Document your final decision and next review date.
- Revisit after any major income, family, rate, or policy change.
Most mistakes come from skipping the baseline and jumping directly to action. A documented process improves decision quality and reduces costly reversals.
Common mistakes and how to avoid them
| Common mistake | Better approach |
|---|---|
| Chasing one metric in isolation | Evaluate full cash-flow, tax, and risk impact |
| Using generic assumptions | Adapt inputs to your province, income, and timeline |
| Delaying implementation too long | Start with a conservative version and refine quarterly |
| Ignoring downside scenarios | Test best case, base case, and stress case |
A hub page should function like a control panel: clear sequencing, practical ranges, and explicit trade-offs for real-world decisions.
Tracking metrics that matter
Track a small set of indicators so you can adjust early:
- Net monthly cash-flow impact n- Effective tax rate or fee drag where relevant
- Debt and savings progress against target timeline
- Risk exposure (rate sensitivity, concentration, liquidity)
- Decision review cadence (monthly, quarterly, annually)
If the chosen strategy underperforms for two consecutive review periods, reassess assumptions before adding complexity.
Annual review cadence
A structured annual review keeps Mortgage Cost Guide Canada 2026 | Monthly Payments by Mortgage Amount current and actionable:
| Review window | Priority actions |
|---|---|
| Q1 | Update limits, rates, and policy changes |
| Q2 | Rebalance plans based on year-to-date progress |
| Q3 | Stress-test assumptions for next year |
| Q4 | Execute deadline-sensitive actions and optimize carry-forward items |
This cadence turns one-time reading into an operating system for better long-term outcomes.
Decision framework
A strong hub helps readers choose a path quickly instead of reading every article linearly. Start by mapping your situation, time horizon, and risk tolerance, then pick the relevant subtopic branch.
| Decision input | What to clarify first |
|---|---|
| Time horizon | Immediate action, this year, or long-term planning |
| Financial impact | High-stakes decision or low-stakes optimization |
| Complexity level | Simple setup, moderate comparison, or advanced strategy |
| Evidence needed | Rule-of-thumb decision or data-backed model |
When the decision has tax, legal, or debt implications, prioritize the framework articles first and then move into specific calculators and implementation guides.
Browse All Mortgage Cost Guide Canada 2026 | Monthly Payments by Mortgage Amount Articles
Browse all 10 articles in this section.
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- $300,000 Mortgage in Canada: Monthly Payments, Total Cost & Income Needed
- $500,000 Mortgage in Canada: Monthly Payments, Total Cost & Income Needed
- $700,000 Mortgage in Canada: Monthly Payments, Total Cost & Income Needed
- $800,000 Mortgage in Canada: Monthly Payments, Total Cost & Income Needed
- $900,000 Mortgage in Canada: Monthly Payments, Total Cost & What You Need