If your down payment is below 20 percent, CMHC, Sagen or Canada Guaranty insurance adds a premium to the loan amount, and Saskatchewan charges PST on that premium at closing, both of which raise the true monthly figure above what a basic online calculator shows.
A longer amortization lowers the monthly payment but raises total interest paid over the life of the loan, while a shorter one does the reverse, so the right answer depends on your income ceiling under CMHC's roughly 39 percent housing cost guideline, not the sticker price alone.
Get the real number from your lender before you assume anything from a generic calculator. Get your hand-reviewed valuation from Joel Dyck.