Work through the numbers
Mortgage payments, two-rate comparisons, monthly-compounded loans and savings growth. Enter your own assumptions; no available product or future rate is implied.
Keep the payments visible.
Change a value to compare a constant-rate scenario. All amounts are CAD.
Monthly payments; semi-annual compounding. Select a horizon within your amortization.
Estimates exclude fees, tax, mortgage insurance, prepayments and future rate changes. A lender’s contract and rounding can differ.
See the complete monthly ledger (60 rows)
| month | payment | interest | principal | balance |
|---|---|---|---|---|
| 1 | $1,744.81 | $1,237.17 | $507.64 | $299,492.36 |
| 2 | $1,744.81 | $1,235.08 | $509.73 | $298,982.63 |
| 3 | $1,744.81 | $1,232.98 | $511.83 | $298,470.80 |
| 4 | $1,744.81 | $1,230.87 | $513.94 | $297,956.86 |
| 5 | $1,744.81 | $1,228.75 | $516.06 | $297,440.80 |
| 6 | $1,744.81 | $1,226.62 | $518.19 | $296,922.61 |
| 7 | $1,744.81 | $1,224.48 | $520.33 | $296,402.28 |
| 8 | $1,744.81 | $1,222.34 | $522.47 | $295,879.81 |
| 9 | $1,744.81 | $1,220.18 | $524.63 | $295,355.18 |
| 10 | $1,744.81 | $1,218.02 | $526.79 | $294,828.39 |
| 11 | $1,744.81 | $1,215.85 | $528.96 | $294,299.43 |
| 12 | $1,744.81 | $1,213.67 | $531.14 | $293,768.29 |
| 13 | $1,744.81 | $1,211.48 | $533.33 | $293,234.96 |
| 14 | $1,744.81 | $1,209.28 | $535.53 | $292,699.43 |
| 15 | $1,744.81 | $1,207.07 | $537.74 | $292,161.69 |
| 16 | $1,744.81 | $1,204.85 | $539.96 | $291,621.73 |
| 17 | $1,744.81 | $1,202.62 | $542.19 | $291,079.54 |
| 18 | $1,744.81 | $1,200.39 | $544.42 | $290,535.12 |
| 19 | $1,744.81 | $1,198.14 | $546.67 | $289,988.45 |
| 20 | $1,744.81 | $1,195.89 | $548.92 | $289,439.53 |
| 21 | $1,744.81 | $1,193.62 | $551.19 | $288,888.34 |
| 22 | $1,744.81 | $1,191.35 | $553.46 | $288,334.88 |
| 23 | $1,744.81 | $1,189.07 | $555.74 | $287,779.14 |
| 24 | $1,744.81 | $1,186.78 | $558.03 | $287,221.11 |
| 25 | $1,744.81 | $1,184.48 | $560.33 | $286,660.78 |
| 26 | $1,744.81 | $1,182.16 | $562.65 | $286,098.13 |
| 27 | $1,744.81 | $1,179.84 | $564.97 | $285,533.16 |
| 28 | $1,744.81 | $1,177.51 | $567.30 | $284,965.86 |
| 29 | $1,744.81 | $1,175.18 | $569.63 | $284,396.23 |
| 30 | $1,744.81 | $1,172.83 | $571.98 | $283,824.25 |
| 31 | $1,744.81 | $1,170.47 | $574.34 | $283,249.91 |
| 32 | $1,744.81 | $1,168.10 | $576.71 | $282,673.20 |
| 33 | $1,744.81 | $1,165.72 | $579.09 | $282,094.11 |
| 34 | $1,744.81 | $1,163.33 | $581.48 | $281,512.63 |
| 35 | $1,744.81 | $1,160.93 | $583.88 | $280,928.75 |
| 36 | $1,744.81 | $1,158.53 | $586.28 | $280,342.47 |
| 37 | $1,744.81 | $1,156.11 | $588.70 | $279,753.77 |
| 38 | $1,744.81 | $1,153.68 | $591.13 | $279,162.64 |
| 39 | $1,744.81 | $1,151.24 | $593.57 | $278,569.07 |
| 40 | $1,744.81 | $1,148.80 | $596.01 | $277,973.06 |
| 41 | $1,744.81 | $1,146.34 | $598.47 | $277,374.59 |
| 42 | $1,744.81 | $1,143.87 | $600.94 | $276,773.65 |
| 43 | $1,744.81 | $1,141.39 | $603.42 | $276,170.23 |
| 44 | $1,744.81 | $1,138.90 | $605.91 | $275,564.32 |
| 45 | $1,744.81 | $1,136.40 | $608.41 | $274,955.91 |
| 46 | $1,744.81 | $1,133.89 | $610.92 | $274,344.99 |
| 47 | $1,744.81 | $1,131.38 | $613.43 | $273,731.56 |
| 48 | $1,744.81 | $1,128.85 | $615.96 | $273,115.60 |
| 49 | $1,744.81 | $1,126.31 | $618.50 | $272,497.10 |
| 50 | $1,744.81 | $1,123.76 | $621.05 | $271,876.05 |
| 51 | $1,744.81 | $1,121.19 | $623.62 | $271,252.43 |
| 52 | $1,744.81 | $1,118.62 | $626.19 | $270,626.24 |
| 53 | $1,744.81 | $1,116.04 | $628.77 | $269,997.47 |
| 54 | $1,744.81 | $1,113.45 | $631.36 | $269,366.11 |
| 55 | $1,744.81 | $1,110.84 | $633.97 | $268,732.14 |
| 56 | $1,744.81 | $1,108.23 | $636.58 | $268,095.56 |
| 57 | $1,744.81 | $1,105.60 | $639.21 | $267,456.35 |
| 58 | $1,744.81 | $1,102.97 | $641.84 | $266,814.51 |
| 59 | $1,744.81 | $1,100.32 | $644.49 | $266,170.02 |
| 60 | $1,744.81 | $1,097.66 | $647.15 | $265,522.87 |
Method, assumptions and limitations
Mortgage payment uses the pinned MITEY payment engine: periodic rate = (1 + annual nominal rate / 2)^(2/12) − 1; payment = principal × periodic rate / (1 − (1 + periodic rate)^−number of payments). At zero interest, divide principal by the number of payments. The monthly-loan tab uses 12 compounding periods instead of 2.
Each ledger row rounds interest and the regular payment to cents, subtracts principal paid, and caps an early payoff at the remaining balance plus interest. At the final amortization month it adjusts the payment to clear any cent-rounding residual. The rate and payment are held constant. A short displayed horizon does not repay the whole amortization. Savings uses (1 + APY)^(1/12) − 1; interest is rounded monthly and the entered deposit is added at each month end. APY is not applied a second time.
Balances and deposits must be in whole cents. Rates are limited to 0–50%, amortization to 1–40 whole years, and savings to 600 months; scenarios beyond safe integer-cent arithmetic are refused.
Rate comparisons do not forecast the Bank of Canada, offer a lender quote, calculate a break penalty or assess eligibility. Banks may use different compounding, daily interest or rounding. Get written terms for a real offer.
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