The Mortgage Affordability Calculator helps you to determine how much you can borrow. The Mortgage Payment Calculator estimates the amount of a mortgage payment and generates an amortization schedule for payments. The Mortgage Comparison Calculator establishes which mortgage product is right for you.
View graph View report Print results Save/Share results Mortgage Amount The total amount of the mortgage. Amortization PeriodThe number of months or years over which the mortgage is repaid. The maximum amortization period is 35 years.
Payment FrequencyYou can choose how often you will make payments on your mortgage. Typically your overall interest paid is lower when you make more frequent payments. For example, an accelerated bi-weekly payment means you are essentially making the equivalent of one additional monthly payment each year.
Please select the type of mortgage that best meets your needs or enter your own rate. Mortgage Term The length of the mortgage contract, which can be tied to a specific interest rate. Interest Rate The annual interest rate on your mortgage. Mortgage Payment: Interest over term: Balance owing at term: Total interest: Total interest cost over amortization. Next step?Compare mortgage scenarios Ready to go?Get pre-approved now Prepayment Type For prepayments, you can choose a lump sum, percentage increase or dollar increase. The amount (in dollars or as a percentage) that you will prepay. The amount (in dollars or as a percentage) that you will prepay. Payment PeriodThe payment period is an indicator of the number and order of payments. E.g. A mortgage with a 1-yr term paid monthly has 12 payment periods. A mortgage with a 2-year term paid semi-monthly has 48 payment periods. You can choose to apply the extra payment to any of the payment periods, for example the 5th, 10th, or 41st period.
Total savings: Savings over term: Mortgage-free earlier: View graph View report Print results Save/Share results Mortgage Amount The total amount of the mortgage. Payment AmountThe amount of principal and interest that will be paid regularly to service the mortgage during each payment period.
Payment FrequencyYou can choose how often you will make payments on your mortgage. Typically your overall interest paid is lower when you make more frequent payments. For example, an accelerated bi-weekly payment means you are essentially making the equivalent of one additional monthly payment each year.