Mortgage Calculator

Plan your home financing with precision

Mortgage Details

?
$
%

Payment Summary

?
Down Payment $120,000
Monthly Payment $2,576
Total Principal $150,000
Total Interest $103,814
Total Lump Sum Prepayments $0
Total Extra Monthly Payments $0
Total Interest Saved $0
Loan Term 24.9 years
Debt Principal Per $100 of Monthly Payment $0
Refinanced Monthly Payment -

Optional Features & Scenarios
?

Enter details below to calculate how refinancing your mortgage would affect your payments and total interest.

Enter an additional amount to pay monthly towards your mortgage principal.

Total Monthly Housing Cost (Does not affect other outputs) $0

Lump Sum (1-3 Yr)

Lump Sum (4-6 Yr)

5-Year Refinancing

Monthly Payments

Lump Sums are calculated off previous year end principal. The refinancing quick scenario maintains original loan term.

Payment Breakdown

Remaining Mortgage & Cumulative Interest

Total Paid For Home

Principal Paid & Value Gains

Outputs and Tables
?

Payment Sensitivity Analysis

This table shows how your monthly mortgage payment would change with different down payment percentages and interest rates. Your current calculated payment is highlighted.

Swipe left/right to see more details

Payment Schedule

Swipe left/right to see more details

Year Principal Interest Lump Sum Prepayments Extra Monthly Payments Balance Home Equity Home Appreciation

Mortgage Details Help

House Value

The total purchase price of the home.

Down Payment

The initial payment you make toward the home purchase. You can enter either a dollar amount or a percentage, and the other will update automatically.

Interest Rate

The annual interest rate for your mortgage loan. This calculator uses semi-annual compounding, as is common in Canada.

Term (years)

The length of your mortgage loan in years.

Home Appreciation

The estimated annual percentage increase in your home's value.

Payment Summary Help

Monthly Payment

Your regular monthly mortgage payment amount.

Refinanced Monthly Payment

If you use the refinancing feature, this shows your new monthly payment amount after refinancing.

Total Principal

The total amount borrowed, not including interest.

Total Interest

The total interest paid over the life of your mortgage.

Total Lump Sum Prepayments

The sum of all lump sum prepayments you've added to your calculation.

Total Extra Monthly Payments

The sum of all extra monthly payments over the life of your mortgage.

Total Interest Saved

The amount of interest you'll save by making prepayments and/or extra monthly payments.

Loan Term

The actual time it will take to pay off your mortgage, which may be shorter than your original term if you make prepayments.

Debt Principal Per $100 of Monthly Payment

This is how much extra debt you can take on for every $100 of payment that you are willing to pay, assuming you contribute the same percentage downpayment along with the sum. This, for example, can be used to understand the difference between buying something that has condo fees versus how much more debt you could take on for a house with no condo fees for the same monthly cash outflow.

Optional Features Help

Lump Sum Prepayments

Add one-time payments toward your mortgage principal in specific years.

Refinancing

Calculate how refinancing your mortgage at a future date would affect your payments and total interest.

Extra Monthly Payment

Add a consistent extra amount to your monthly payments to pay down your mortgage faster.

Additional Costs

Include other housing costs to see your total monthly housing expenses.

Quick Scenarios

Apply preset calculations to quickly see how different strategies would affect your mortgage.

Outputs and Tables Help

Payment Sensitivity Analysis

This table shows how your monthly payment would change with different down payment amounts and interest rates.

Payment Schedule

A year-by-year breakdown of your mortgage payments, showing principal, interest, and remaining balance.