Estimate your monthly payment for any mortgage amount, rate, and amortization. Numbers update as you slide.
This calculator uses the standard Canadian mortgage formula: interest is compounded semi-annually, not in advance, then converted to your selected payment frequency. That's the same convention used by every Canadian lender for residential mortgages.
Accelerated payments (bi-weekly and weekly) take your monthly payment, multiply by 12, and divide by 26 or 52. The result is the equivalent of one extra monthly payment per year—dropping years off your amortization at no extra cost per pay period.
What this doesn't include: property tax, condo fees, home insurance, mortgage default insurance (CMHC, Sagen, Canada Guaranty) if applicable, and mortgage life insurance. We model your full carrying cost during your strategy call.