Mortgage Calculator
Calculate your payment, total interest, and see how your balance decreases over time. Canadian convention (semi-annual compounding).
Loan details
Enter your loan amount, rate, and amortization. Rate uses Canadian semi-annual compounding.
Extra amounts applied to principal at a set frequency (e.g. yearly bonus). Reduces balance and total interest.
Need help finding the best rate?
Connect with a mortgage broker who can shop multiple lenders for you.
Balance over time
How your remaining balance decreases year by year
Amortization schedule
First 12 and last 12 of 300 payments.
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,441.57 | $628.90 | $1,812.67 | $399,371 |
| 2 | $2,441.57 | $631.75 | $1,809.82 | $398,739 |
| 3 | $2,441.57 | $634.61 | $1,806.96 | $398,105 |
| 4 | $2,441.57 | $637.49 | $1,804.08 | $397,467 |
| 5 | $2,441.57 | $640.37 | $1,801.20 | $396,827 |
| 6 | $2,441.57 | $643.28 | $1,798.29 | $396,184 |
| 7 | $2,441.57 | $646.19 | $1,795.38 | $395,537 |
| 8 | $2,441.57 | $649.12 | $1,792.45 | $394,888 |
| 9 | $2,441.57 | $652.06 | $1,789.51 | $394,236 |
| 10 | $2,441.57 | $655.02 | $1,786.55 | $393,581 |
| 11 | $2,441.57 | $657.99 | $1,783.58 | $392,923 |
| 12 | $2,441.57 | $660.97 | $1,780.60 | $392,262 |
| … 276 payments not shown … | ||||
| 289 | $2,441.57 | $2,312.64 | $128.93 | $26,139 |
| 290 | $2,441.57 | $2,323.12 | $118.45 | $23,815 |
| 291 | $2,441.57 | $2,333.65 | $107.92 | $21,482 |
| 292 | $2,441.57 | $2,344.22 | $97.35 | $19,138 |
| 293 | $2,441.57 | $2,354.84 | $86.73 | $16,783 |
| 294 | $2,441.57 | $2,365.52 | $76.05 | $14,417 |
| 295 | $2,441.57 | $2,376.24 | $65.33 | $12,041 |
| 296 | $2,441.57 | $2,387.00 | $54.57 | $9,654 |
| 297 | $2,441.57 | $2,397.82 | $43.75 | $7,256 |
| 298 | $2,441.57 | $2,408.69 | $32.88 | $4,848 |
| 299 | $2,441.57 | $2,419.60 | $21.97 | $2,428 |
| 300 | $2,441.57 | $2,430.57 | $11.00 | $0 |
Key insights
Observations about your mortgage
You will pay $332,468 in interest over 25 years — 45% of your total payments.
Switching to bi-weekly (half your monthly payment every 2 weeks) can pay off your mortgage faster and save interest.
Note: This calculator is for estimation only. Rates and terms vary by lender. Consult a mortgage professional for your situation.
Get the Best Mortgage Rate
A mortgage broker can shop rates across dozens of lenders to find your best option. Get personalized advice and potentially save thousands over the life of your mortgage.
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