British Columbia
Mortgage calculator
Payments with Canadian semi-annual compounding, CMHC insurance, the sales tax on it, and the stress test.
Mortgage details
$
$
10.0% of the price · minimum $55,000
%
Fixed rates are compounded semi-annually, as the Interest Act requires; variable rates monthly.
Monthly payment
$4,104.41
- Mortgage amount
- $742,320
- Default insurance premium (3.10%)
- $22,320
Added to the mortgage.
British Columbia charges no sales tax on the premium.
Over the 5-year term
- Interest paid
- $155,567
- Principal paid
- $90,698
- Balance at renewal
- $651,622
Over the whole mortgage
- Total interest
- $489,004
- Paid off in
- 25.0 years
Stress test
- Qualifying rate
- 6.49%
- Monthly payment at that rate
- $4,967.74
Lenders check the buyer can carry this payment: the contract rate plus 2%, or 5.25% if that is higher.
Where the rules come from
- CMHC — mortgage loan insurance premiums · checked 2026-09-29
- FCAC — minimum down payment · checked 2026-09-29
- Department of Finance — $1.5M insured cap and 30-year amortization · checked 2026-09-29
- OSFI — minimum qualifying rate · checked 2026-09-29
An estimate using published federal and provincial rules. Lenders may round differently or apply their own limits; confirm with the lender before quoting a figure.