Mortgage Calculator
Calculate monthly mortgage payments, total interest, and amortization schedules for Canadian mortgages with typical 5-year term and 25-30 year amortisation periods
Mortgage Details
Additional Costs (Optional)
Calculation Results
Loan Summary
Monthly Payment Breakdown
Payment Distribution Over Time
Enter mortgage details to calculate
Fill in the loan amount, down payment, interest rate, and term above
How to Use the Mortgage Calculator
Calculate your monthly mortgage payments and plan your home purchase
Loan Amount
Enter the total amount you want to borrow for your home purchase
Interest Rate
Enter the annual interest rate offered by your lender
Loan Term
Choose the length of time to repay the loan
Additional Costs
Include property tax, insurance, PMI, and HOA fees
Mortgage Calculator FAQ
How much of my payment goes to interest at the start?
Early payments are mostly interest because the balance is at its largest. On a 30 year loan, the first payment can be two thirds interest. The amortization schedule shows the exact split for every month.
What costs does the monthly payment include?
The calculator covers principal and interest. Property tax, home insurance, and HOA fees vary by location and lender, so add them separately when budgeting your full monthly cost.
How does a larger down payment affect my mortgage?
A bigger down payment reduces the loan amount, which lowers both the monthly payment and total interest, and may eliminate mortgage insurance requirements below certain loan-to-value thresholds.
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