Calculate your mortgage payment amount and the impact of optional additional prepayments. Use the amortization schedule to find out the principal and interest portion of each mortgage payment.

Enter the purchase price

Enter your down payment, the amount of money you will contribute at the beginning to put towards the home purchase.

Most lenders require mortgage loan insurance if your down payment is less than 20% of the purchase price. The lender will obtain mortgage insurance and typically, the premium will be added to your mortgage.

Enter an interest rate

Enter the amortization period. This is the total length of time you’ll take to pay off your mortgage in full. Most people choose 25 or 30 years.

Enter the mortgage term. This is how long you agree to have the mortgage with the lender at a specific interest rate, payment terms and conditions.

Enter a payment frequency.

Enter the date your first mortgage payment is due. If you are unsure, estimate a date.

Mortgage payment amount:

Additional mortgage payments (optional)

Your mortgage may allow you to make additional payments, up to certain limits.

Some mortgages allow you to make an annual lump sum payment towards the outstanding principal amount, subject to certain rules and conditions.

Some mortgages allow you to make additional monthly payments towards the outstanding principal amount. Check with your lender for rules and conditions.

Additional homeownership costs (optional)

The cost of home ownership is more than a mortgage payment. Estimate additional potential costs.


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Any results or calculations displayed on this site are made available for illustrative and general information purposes only, and do not constitute financial, legal or other advice, and should not be relied upon in that regard. By using this calculator, you agree to our Website and Social Media Terms of Use and Privacy Policy.


1. Due to rounding, numbers presented throughout this calculator may not add up precisely.

2. Mortgage rate is compounded semi-annually

3. Mortgage is a fixed-rate mortgage.

4. For the purposes of the amortization schedule, the mortgage is assumed to renew continuously with the same terms and conditions and values.