Amortization calculator
See the payment, payoff horizon, and interest over time.
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Interactive calculator
Amortization calculator
See the payment, payoff horizon, and interest across your amortization schedule.
Calculation notes
Methodology for the amortization calculator
Generate a complete amortization schedule showing principal, interest, and remaining balance for every payment period over the full amortization.
See exactly how much of each payment goes to principal vs interest, when you cross the 50% equity threshold, and your balance at each renewal date.
Visualize the true cost of your mortgage — total interest paid, payoff date, and impact of different rates, terms, and prepayment strategies.
Export the full schedule as CSV or PDF to share with your broker, accountant, or financial planner.
Inputs to check
- Mortgage balance
- Interest rate and term
- Amortization length
- Payment frequency
Assumptions
- Rates stay constant for the modeled term; variable rates change the schedule when prime moves.
- No additional fees or penalties are included unless modeled as extra payments.
- Schedules assume all payments are made on time — late payments change actual amortization.
- Uses Canadian semi-annual compounding regardless of payment frequency.
How this calculator works
Generate a complete amortization schedule showing principal, interest, and remaining balance for every payment period over the full amortization.
See exactly how much of each payment goes to principal vs interest, when you cross the 50% equity threshold, and your balance at each renewal date.
Visualize the true cost of your mortgage — total interest paid, payoff date, and impact of different rates, terms, and prepayment strategies.
Export the full schedule as CSV or PDF to share with your broker, accountant, or financial planner.
Inputs you will need
- Mortgage balance
- Interest rate and term
- Amortization length
- Payment frequency
Assumptions and limitations
- Rates stay constant for the modeled term; variable rates change the schedule when prime moves.
- No additional fees or penalties are included unless modeled as extra payments.
- Schedules assume all payments are made on time — late payments change actual amortization.
- Uses Canadian semi-annual compounding regardless of payment frequency.
Example scenarios
25-year vs 30-year total interest
A $500K mortgage at 4.50% pays ~$332K in interest over 25 years vs ~$413K over 30 years — an $81K difference for five extra years of payments.
Accelerated bi-weekly payoff
On $400K at 5.00%, switching from monthly to accelerated bi-weekly reduces total interest by ~$47K and shortens amortization by 4.2 years.
Lump sum at renewal
Model a $25K lump sum at the 5-year renewal on $350K balance — reduces remaining amortization from 20 to ~16 years and saves ~$38K in interest.
Rate increase at renewal
When 3.00% renews at 5.00% on $300K balance, monthly payments rise from $1,420 to $1,745 — use the schedule to see the full impact.
Related tools
Use this payment output in the next decision
Payment and amortization scenarios matter most when they connect to a rate, a contract strategy, and a broker-reviewed fallback plan if rates move or priorities change.
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Read the Canada-specific playbook before you commit to the next step.
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Use the broker workflow, rates pages, or secure dashboard to move from estimate to action.
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Frequently asked questions
What is mortgage amortization?
Amortization is the total years to pay off your mortgage in full at a constant rate. Maximum amortization for insured mortgages (<20% down) is 25 years. For uninsured, 30 years is common. Longer amortization = lower payments but significantly more total interest.
Can I export the schedule?
Yes. Download as CSV for spreadsheet analysis or PDF to share with your broker. Export includes payment number, date, payment amount, principal, interest, and remaining balance for every period.
Does the schedule change when rates change?
Yes. Variable-rate mortgages: each Bank of Canada change alters the interest portion. Fixed-rate: schedule holds for the term but changes at renewal. Update the rate anytime for a fresh schedule.
When do I start paying more principal than interest?
At 4.50% on 25-year amortization, the crossover typically occurs around year 11-12. The schedule shows this clearly — watch the principal column exceed the interest column.
How does shorter amortization affect qualification?
Shorter amortization increases your monthly payment, raising GDS/TDS ratios. If ratios are tight, 30-year amortization may be needed to pass the stress test. If you have room, 25-year saves substantial interest and builds equity faster.