mortgage calculator
Monthly payment · total interest · Canada & USA · instant results
Estimates only. Actual rates and terms vary by lender. Consult a licensed mortgage broker before making financial decisions.
Quick reference — monthly estimates
| Loan amount | 5% / 25yr | 5% / 30yr |
|---|---|---|
| $300,000 | $1,745/mo | $1,610/mo |
| $400,000 | $2,327/mo | $2,147/mo |
| $500,000 | $2,908/mo | $2,684/mo |
| $600,000 | $3,490/mo | $3,221/mo |
| $800,000 | $4,654/mo | $4,295/mo |
| $1,000,000 | $5,817/mo | $5,368/mo |
Principal vs interest
Early payments are mostly interest. As the loan matures, more goes to principal. This is called amortization — your payment stays the same but the split changes every period.
Down payment impact
In Canada, less than 20% down requires CMHC mortgage insurance. In the US, less than 20% typically requires PMI. Both add to your total monthly cost.
Bi-weekly payments save money
Switching from monthly to bi-weekly means 26 half-payments per year — equivalent to 13 full months. This alone can cut years off your mortgage and save tens of thousands in interest.