Home ownership

Mortgage Calculator

Estimate Canadian mortgage payments, understand principal and interest, and explore how an extra amount per payment could affect your payoff timeline.

Mortgage details

Enter assumptions for a payment illustration.

Home Price$

Down Payment Mode

Dollar amountPercentage

Down Payment$

Equivalent to $150,000.00 or 20.00%.

Estimated Mortgage Amount

$600,000.00

Mortgage default insurance and closing costs are not included.

Interest Rate%

Use the mortgage rate you want to illustrate.

Amortization PeriodMortgage Term

The term is how long the current agreement applies. Amortization is the estimated total repayment period. Available amortizations depend on lender, mortgage type, insurance status, and applicable rules.

Payment Frequency

Optional

Want to see what paying a little extra could do?

Enter an extra amount you could hypothetically add to each regular mortgage payment.

Extra per payment$

This amount is added to every monthly payment in the selected schedule.

Enter your mortgage assumptions.

Your payment and amortization illustration will appear after you calculate.

Building an Emergency Fund Credit Scores in Canada Understanding Compound Growth Savings Goal Calculator Financial Disclaimer

Term and amortization

Your mortgage may renew before it is paid off

The mortgage term is how long the current agreement applies. Amortization is the estimated total repayment period. Future rates and payments may change at renewal.

Illustration assumptions

What this calculator includes

Canadian fixed-rate conversion with semi-annual compounding.
Monthly, semi-monthly, weekly, bi-weekly, and accelerated schedules.
Optional extra amounts applied with each regular payment.
No qualification, default-insurance, tax, fee, or ownership-cost calculation.