Canadian Mortgage Calculator 

Use the three "what if" scenarios to analyze Canadian mortgage options and see how a change in interest rates affect your mortgage payments, how an increase in payments affects your amortization period and so on. 

Calculating a simple Canadian mortgage payment is relatively straight forward but here are some calculations you might not be aware of.                      

Fill in the following fields: loan amount, compound period (leave this at semi-annual which is the compounding used for Canadian mortgages), mortgage amortization period in months, mortgage term in periods(months) and the mortgage payment.  Click "calculate"

You can manipulate the outstanding balance of a mortgage with the "term".  Simply choose the number of months for your outstanding mortgage balance and your done.  ie, 60 months would equate to the outstanding balance after 5 years, assuming that your using monthly payment frequency.  If your using annual payment frequency, you would use 5 instead of 60 and so on.

You might also be noticing that when you use the mortgage term to manipulate the outstanding balance, the mortgage interest and mortgage principal also change.  It's a great way to see the amount of principal or interest paid to a certain point.

To calculate an amortization schedule do the following: calculate a mortgage payment, choose the amortization "start" month, the start date (amortization from) and then choose the year you want to start with (output from) and the year you want the amortization schedule to finish on (output to).  Then click "calculate".

The  mortgage calculator is described as being Canadian, and by default, it will calculate a Canadian mortgage, however it also has the ability to calculate US mortgages. To calculate a US mortgage payment, simply change the compound period from semi-annual to monthly. That's the only difference between a mortgage in Canada and a mortgage in the US.

We hope you find the mortgage calculator useful...

1. Canadian mortgage interest rate:


2. Calculate the outstanding balance of a Canadian mortgage:


3. Calculating a Canadian amortization schedule:

Do you know what your GDS and TDS are?
GDS and TDS definition and calculator.