Mortgage calculator
Monthly payment · total interest · Canada & USA · instant results
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Estimates only. Actual rates and terms vary by lender. Consult a licensed mortgage broker before making financial decisions.
How mortgage payments work
Principal vs interest
Early payments are mostly interest. As the loan matures, more goes to principal. This is called amortization — your payment stays the same but the split changes every period.
Down payment impact
In Canada, less than 20% down requires CMHC mortgage insurance. In the US, less than 20% typically requires PMI. Both add to your total monthly cost.
Bi-weekly payments save money
Switching from monthly to bi-weekly means 26 half-payments per year — equivalent to 13 full months. This alone can cut years off your mortgage and save tens of thousands in interest.
Quick reference — monthly estimates
Loan amount5% / 25yr5% / 30yr
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