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Calculator · For Homeowners & Buyers

Amortization Schedule

See how your balance falls over time, and how extra payments shorten the timeline. Then talk to us about your real options.

Your Numbers

Canadian semi-annual compounding, monthly payments.

A rate to estimate with. We will confirm your actual options.
Optional. Added to every monthly payment.
Optional. Applied once every 12 months.
Payoff time
0
Base monthly payment$0
Total interest (base, no extras)$0
Total interest (with extras)$0
Interest saved$0
Time saved0

APR. OAC. For illustrative purposes only. Subject to change without notice. This is not financial, legal or lending advice.

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Annual Summary (With Extras Applied)

YearYear-end balanceInterest paid that year

This is not an offer of financing or a rate quote. Estimates use Canadian semi-annual compounding and assume a fixed rate held for the full period; prepayment privileges vary by lender and product, so the extra payments shown may not all be permitted. Speak with us for figures specific to you. Mortgage broker services provided by TMG AnchorPoint Mortgage Inc., NS Licence 3000145, NB Licence 260055962, NL Licence 26-07-TM223-1.

What These Numbers Mean

Plain-language definitions and the typical ranges, so you can play with the inputs with confidence.

Mortgage amount
The starting balance the schedule pays down. This is the price less your down payment, plus any insurance premium on an insured deal.
Typical: the figure your payment and interest are calculated on.
Interest rate
The annual rate used for the schedule. We will confirm the actual options available to you.
Typical: fixed and variable rates move with the market and with whether your deal is insured or conventional.
Amortization
The total years to clear the mortgage with the base payment. A longer amortization lowers the payment but raises lifetime interest.
Typical: 25 years standard; 30 years on insured first-time and new-build deals, and on conventional.
Extra monthly payment
An optional amount added to every payment. It goes straight to principal and pulls your payoff date forward.
Typical: even a small monthly top-up can save years of interest.
Annual lump-sum prepayment
An optional one-time payment applied once every 12 months, on top of the regular schedule.
Typical: lump sums are powerful early in the term, when more of each payment is interest.
Prepayment privileges
Lenders cap how much extra principal you can pay each year without a charge. The tool flags when your extras run high, but confirm the rules on your product.
Typical: 15 to 20 percent of the original balance per year, lender-specific.
Payoff time and interest saved
The headline result. Extra payments cut both the total interest and the years to be mortgage-free, shown against the base schedule.
Typical: the earlier and larger the prepayment, the bigger the saving.
Semi-annual compounding
Canadian fixed mortgages compound interest twice a year by law. This tool already applies it across the schedule.
Standard: required on Canadian fixed-rate mortgages.
These are general ranges, not your numbers. The right figure depends on your situation, the property, and the lender. Talk to us and we will pin it down.

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