Mortgage payment calculator
Estimate principal and interest payments, with an editable compounding convention and extra payments.
Your scenario
Method and exclusions
A fully amortizing fixed-rate model with monthly payments. Choose nominal annual interest compounded monthly, or nominal annual interest compounded semiannually and converted to an equivalent monthly rate. Canada defaults to the latter as a scenario, not a rule for every product. Property tax, insurance, fees, mortgage default insurance, rate resets and prepayment penalties are excluded. The rate stays constant for the full amortization, which can exceed a real mortgage term.
Supporting guidance: FCAC mortgage calculator (new tab). Guidance checked 28 October 2026; the arithmetic model remains our stated approximation.
How to use the result
Run a baseline, then change one assumption at a time. Compare the total cost or balance as well as the monthly amount. Keep excluded taxes, fees and product features on a separate checklist. Confirm decisions against actual provider documents.