Interactive calculator
Mortgage payment calculator
Model blended payments, prepayments, and payoff timelines with Canadian assumptions.
Calculation notes
Methodology for the mortgage payment calculator
Estimate mortgage payments using Canadian semi-annual compounding and multiple payment frequencies — monthly, bi-weekly, accelerated bi-weekly, and weekly.
Compare payment amounts across different amortization lengths, interest rate scenarios, and down payment sizes in seconds.
Model how accelerated payments shorten your amortization, how prepayments reduce total interest, and how rate changes affect your monthly budget.
Save and name multiple scenarios in your dashboard to compare payment strategies side by side before locking in a mortgage term.
Inputs to check
- Mortgage amount or purchase price and down payment
- Interest rate and term length
- Amortization period
- Payment frequency
Assumptions
- Uses Canadian semi-annual compounding as required for all Canadian mortgage calculations.
- Assumes a constant rate for the selected term; variable-rate payments change when prime moves.
- Property taxes, home insurance, and condo fees are not included — budget these separately.
- Prepayments apply on the schedule you define — confirm your lender's prepayment privilege limits.