Run the numbers
What will it cost per month?
Edit either one — the other follows. Currently 20% down.
Canadian mortgages compound semi-annually, not monthly — so the figure matches what a lender will quote. CMHC default insurance is added to the loan and amortized when the down payment is under 20%; the provincial sales tax on that premium is payable at closing and cannot be financed.
Your payment
—
per month
Down payment—
CMHC premium
Total borrowed—
Total interest—
Total paid—