🏠 Mortgage Calculator

This calculator determines your mortgage payment and provides you with a mortgage payment schedule. The calculator also shows how much money and how many years you can save by making prepayments.

Note: As of December 15, 2024, if your down payment is less than 20% of your home's price, your maximum amortization period is 30 years for new insured mortgages and 25 years for existing insured mortgages.

Mortgage Details

Mortgage Amount ($)

Interest Rate (%)

Start Month

Start Year

Amortization Period (years)

Payment Frequency

Term (years)

Prepayment Options (Optional)

Prepayment Amount ($)

Prepayment Frequency

Start with Payment #

Tax Deduction (Optional)

Note: Tax deductions on mortgage interest typically only apply to rental or investment properties in Canada. For personal residences, mortgage interest is generally not tax-deductible.

This is a rental or investment property