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Mortgage Calculator
Monthly payment, amortization schedule, and total interest cost.
Mortgage Details
$
%
$120,000 (20%)
%
Canadian mortgages use semi-annual compounding
years
$
Extra lump-sum applied once per year. Most credit unions allow 10–20% of original principal annually with no penalty.
Payment Summary
Monthly Payment
$2,789
Total Interest
$356,692
Total Cost
$836,692
Mortgage Amount
$480,000
Principal vs. Interest Over Time
- Principal
- Interest
View year-by-year schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $9,985 | $23,483 | $470,015 |
| 2 | $10,489 | $22,978 | $459,526 |
| 3 | $11,019 | $22,448 | $448,506 |
| 4 | $11,576 | $21,892 | $436,930 |
| 5 | $12,161 | $21,307 | $424,769 |
| 6 | $12,775 | $20,692 | $411,994 |
| 7 | $13,421 | $20,047 | $398,573 |
| 8 | $14,099 | $19,369 | $384,474 |
| 9 | $14,811 | $18,657 | $369,663 |
| 10 | $15,559 | $17,908 | $354,104 |
| 11 | $16,346 | $17,122 | $337,758 |
| 12 | $17,171 | $16,296 | $320,587 |
| 13 | $18,039 | $15,429 | $302,548 |
| 14 | $18,950 | $14,517 | $283,598 |
| 15 | $19,908 | $13,560 | $263,690 |
| 16 | $20,913 | $12,554 | $242,776 |
| 17 | $21,970 | $11,498 | $220,806 |
| 18 | $23,080 | $10,388 | $197,726 |
| 19 | $24,246 | $9,222 | $173,480 |
| 20 | $25,471 | $7,997 | $148,009 |
| 21 | $26,758 | $6,710 | $121,251 |
| 22 | $28,110 | $5,358 | $93,141 |
| 23 | $29,530 | $3,938 | $63,611 |
| 24 | $31,022 | $2,446 | $32,589 |
| 25 | $32,589 | $878 | $0 |
Compare real rates from Canadian credit unions
Many credit unions offer better rates than what you're calculating with. See the current leaders.