MORTGAGE TOOLS

Make the numbers easier to understand.

Compare payments, see a projected renewal balance, and explore extra payments. Use your own assumptions. No account needed.

Your assumptions

Use the total amount borrowed, including any financed mortgage insurance premium. Nothing you enter here is saved.

Mortgage amount (CAD)Example annual interest rate (%)The starting rate is an example, not a current offer.Amortization (years)Mortgage term (years)Your term cannot exceed the amortization.Payment frequencyExtra principal per payment (CAD)Assumes your lender allows these extra payments.

PAYMENT ILLUSTRATION

$2,764.59monthly

Principal and interest only.

Balance at the end of your 5-year term: $438,909.23
Interest during this term: $104,784.38
Projected time to repay: 25 years 0 months
Projected interest saved with extra payments: $0.00

Understand the illustration

Uses a fixed nominal annual rate compounded semi-annually. Standard every-two-week payments equal the monthly payment × 12 ÷ 26; accelerated payments equal half the monthly payment. Extra payments are applied with each regular payment. Projections keep the entered rate unchanged, including after renewal.

Examples only, not a mortgage approval, lender quote or affordability assessment. Taxes, fees, separately paid insurance and prepayment penalties are excluded. Actual lender calculations, rounding and contract rules can differ.

Reference: FCAC payment frequencies · Government of Canada mortgage calculator.