You can use this calculator to determine the effects on your mortgage as different payment frequencies and increasing your payments by predetermined amounts. Note that this calculator uses the calculations used by most Canadian institutions, and will product different numbers than an American mortgage calculator.
If you’d like information on life insurance for your mortgage, please see our page on mortgage life insurance.
Note: the calculator will update automatically – just use your mouse to move between the various fields (questions) and the table will refresh automatically each time you move.
|Year||Payment Number||Principle||Payment||Additional Payment||Interest Portion of Payment||Principal Portion of Payment|