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Payment and Amortization Calculator

Inputs

Mortgage amount

Interest rate (%)

Amortization (years)

Payment frequency True Canadian compounding We use a nominal annual rate with semi-annual compounding. The per-payment effective rate is rₘ = (1 + j₂/2)^(2/m) − 1, where j₂ is your contract rate and m is payments per year. Accelerated payments “Accelerated Bi-Weekly/Weekly” uses the calculated monthly payment divided by 2 (ABW) or 4 (AW), while interest accrues at 26/52 periods. This pays down principal faster without changing the rate. “Extra per payment” is added on top.

Extra per payment (optional)

Increase payment by (per period)

Start date (optional)

Prepayments

Annual prepayment % (of original)

Lump sum amount (one-time)

Apply lump sum at payment #

Rate-change Scenario

Apply renewal rate after term?

Term (years)

Renewal rate (j₂ %)

Results

Payment (per period)

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Payoff date

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Total interest

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Total cost

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Summary

Amount

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Rate

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Amortization

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Frequency

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Extra / Increase

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Annual prepay

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Lump sum

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Payments / year

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# of payments

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Payment after renewal

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Term / Renewal rate

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Interest saved (prepay)

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Interest vs fixed

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Total cost

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Start date

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Accelerated?

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Amortization Schedule (first 24 periods)

#	Date	Payment	Principal	Interest	Balance	Notes
Totals		—	—	—	—