Answer the questions listed below. If you require assistance, roll over the 'Help' buttons on the right. Click either the 'Compute Amortization Schedule' or 'Compute Payment & Balance Summary' button when you are finished.
1.
Mortgage Term:
Please Choose
6 Months
1 Year
2 Years
3 Years
5 Years
7 Years
10 Years
The term of a mortgage is the length of time before it comes due for renewal, and for which the interest rate is either fixed or floating. Select the desired term for your mortgage. This term will be used in creating the amortization schedule, and calculating the balances.
You cannot select a term which is greater than the amortization period you enter.
2.
Payment Frequency:
PLEASE CHOOSE
Monthly
Semi-Monthly
Bi-Weekly
Weekly
Select how often you would like to make your mortgage payments.
Number of payments per year: Monthly: 12 (once a month).
Semi-Monthly: 24 (twice a month).
Bi-Weekly: 26 (once every two weeks).
Weekly: 52 (once a week).
3.
Amortization Period:
Year(s)
Enter a number representing over how many years you would like to repay your mortgage.
The standard is 25 years.
Minimum: 1 Year
4.
Mortgage Amount: $
Enter the amount of money you want to borrow. Do not enter a dollar sign. You can calculate the maximum mortgage amount you qualify for (based on income and debt) by using the Maximum Mortgage calculator.
Minimum: 10,000
5.
Interest Rate:
% (e.g. 5.75)
Enter the interest rate you would like to use for calculating your payment and amortization schedule.
Enter the interest rate in a whole number format. For example: 4.56 NOT .0456
Minimum: 2.0
Mortgage Payment:
Mortgage Balance Remaining After:
1 Year
2 Years
3 Years
5 Years
10 Years