Calculate the payment for your price range.
Use a current lender quote for a decision. The calculator helps compare scenarios; it does not issue an approval.
What does a rate change cost?
Examples only—not today’s mortgage offers. All payments are monthly and in Canadian dollars.
At the same rate and amortization, changing the term changes the reporting period—not the monthly payment. Actual rate offers can differ by term.
Your mortgage, year by year.
Change the chart years to zoom in on your term or see more of the repayment schedule. The loan settings above update both charts.
At year 25: $0 remaining, $100,000 principal repaid and $74,481 interest paid.
The dashed line marks the end of your selected term. Beyond that date, this chart assumes the same rate continues only to illustrate the repayment path. Actual renewal rates and payments may change.
View yearly chart values
| Year | Balance | Principal repaid | Interest paid |
|---|---|---|---|
| 0 | $100,000 | $0 | $0 |
| 1 | $97,923 | $2,077 | $4,902 |
| 2 | $95,740 | $4,260 | $9,699 |
| 3 | $93,447 | $6,553 | $14,385 |
| 4 | $91,038 | $8,962 | $18,955 |
| 5 | $88,508 | $11,492 | $23,404 |
| 6 | $85,848 | $14,152 | $27,724 |
| 7 | $83,055 | $16,945 | $31,910 |
| 8 | $80,120 | $19,880 | $35,954 |
| 9 | $77,036 | $22,964 | $39,849 |
| 10 | $73,796 | $26,204 | $43,589 |
| 11 | $70,392 | $29,608 | $47,164 |
| 12 | $66,816 | $33,184 | $50,567 |
| 13 | $63,059 | $36,941 | $53,789 |
| 14 | $59,112 | $40,888 | $56,821 |
| 15 | $54,964 | $45,036 | $59,653 |
| 16 | $50,607 | $49,393 | $62,275 |
| 17 | $46,029 | $53,971 | $64,677 |
| 18 | $41,220 | $58,780 | $66,847 |
| 19 | $36,167 | $63,833 | $68,773 |
| 20 | $30,858 | $69,142 | $70,443 |
| 21 | $25,281 | $74,719 | $71,845 |
| 22 | $19,421 | $80,579 | $72,964 |
| 23 | $13,264 | $86,736 | $73,787 |
| 24 | $6,796 | $93,204 | $74,298 |
| 25 | $0 | $100,000 | $74,481 |
See the monthly cost of each rate.
This chart uses the rate range below, in 0.1 percentage-point steps. The table provides exact amounts to the cent.
Compare rates in 0.1 percentage-point steps.
For example, 5.0% to 5.1% is a 0.1 percentage-point increase. The $100,000 column stays fixed; the other columns use your mortgage balance and term.
| Rate | Monthly / $100K | Your monthly payment | Change from selected rate | Your term interest | Your ending balance |
|---|---|---|---|---|---|
| 3.0% | $473.25 | $473.25 | -$108.36 | $13,869.34 | $85,474.61 |
| 3.1% | $478.39 | $478.39 | -$103.21 | $14,341.68 | $85,638.19 |
| 3.2% | $483.57 | $483.57 | -$98.04 | $14,814.55 | $85,800.52 |
| 3.3% | $488.77 | $488.77 | -$92.83 | $15,287.93 | $85,961.60 |
| 3.4% | $494.01 | $494.01 | -$87.60 | $15,761.82 | $86,121.42 |
| 3.5% | $499.27 | $499.27 | -$82.33 | $16,236.20 | $86,279.98 |
| 3.6% | $504.56 | $504.56 | -$77.04 | $16,711.07 | $86,437.29 |
| 3.7% | $509.88 | $509.88 | -$71.72 | $17,186.40 | $86,593.33 |
| 3.8% | $515.23 | $515.23 | -$66.37 | $17,662.20 | $86,748.12 |
| 3.9% | $520.61 | $520.61 | -$60.99 | $18,138.44 | $86,901.65 |
| 4.0% | $526.02 | $526.02 | -$55.58 | $18,615.13 | $87,053.92 |
| 4.1% | $531.46 | $531.46 | -$50.15 | $19,092.24 | $87,204.92 |
| 4.2% | $536.92 | $536.92 | -$44.69 | $19,569.77 | $87,354.68 |
| 4.3% | $542.41 | $542.41 | -$39.20 | $20,047.71 | $87,503.17 |
| 4.4% | $547.93 | $547.93 | -$33.68 | $20,526.04 | $87,650.41 |
| 4.5% | $553.47 | $553.47 | -$28.13 | $21,004.76 | $87,796.39 |
| 4.6% | $559.05 | $559.05 | -$22.56 | $21,483.86 | $87,941.11 |
| 4.7% | $564.65 | $564.65 | -$16.96 | $21,963.32 | $88,084.59 |
| 4.8% | $570.27 | $570.27 | -$11.33 | $22,443.14 | $88,226.81 |
| 4.9% | $575.93 | $575.93 | -$5.68 | $22,923.31 | $88,367.78 |
| 5.0% · selected | $581.60 | $581.60 | $0.00 | $23,403.81 | $88,507.51 |
| 5.1% | $587.31 | $587.31 | $5.71 | $23,884.63 | $88,645.99 |
| 5.2% | $593.04 | $593.04 | $11.44 | $24,365.77 | $88,783.22 |
| 5.3% | $598.80 | $598.80 | $17.19 | $24,847.22 | $88,919.22 |
| 5.4% | $604.58 | $604.58 | $22.98 | $25,328.96 | $89,053.98 |
| 5.5% | $610.39 | $610.39 | $28.79 | $25,810.99 | $89,187.50 |
| 5.6% | $616.23 | $616.23 | $34.62 | $26,293.30 | $89,319.79 |
| 5.7% | $622.08 | $622.08 | $40.48 | $26,775.87 | $89,450.85 |
| 5.8% | $627.97 | $627.97 | $46.36 | $27,258.70 | $89,580.69 |
| 5.9% | $633.87 | $633.87 | $52.27 | $27,741.78 | $89,709.31 |
| 6.0% | $639.81 | $639.81 | $58.20 | $28,225.10 | $89,836.70 |
| 6.1% | $645.76 | $645.76 | $64.16 | $28,708.65 | $89,962.89 |
| 6.2% | $651.74 | $651.74 | $70.14 | $29,192.43 | $90,087.86 |
| 6.3% | $657.75 | $657.75 | $76.14 | $29,676.41 | $90,211.63 |
| 6.4% | $663.77 | $663.77 | $82.17 | $30,160.60 | $90,334.19 |
| 6.5% | $669.82 | $669.82 | $88.22 | $30,644.99 | $90,455.56 |
| 6.6% | $675.90 | $675.90 | $94.29 | $31,129.56 | $90,575.73 |
| 6.7% | $681.99 | $681.99 | $100.39 | $31,614.31 | $90,694.72 |
| 6.8% | $688.11 | $688.11 | $106.51 | $32,099.23 | $90,812.52 |
| 6.9% | $694.25 | $694.25 | $112.65 | $32,584.31 | $90,929.14 |
| 7.0% | $700.42 | $700.42 | $118.81 | $33,069.54 | $91,044.60 |
Calculation assumptions and what is excluded
Each row assumes its rate stays constant for the selected term, payments arrive monthly at the end of each period, and there are no extra payments. Interest is converted from the selected annual compounding convention to a monthly rate. Calculations keep full precision and display rounded cents; lender schedules may round differently.
Payments include principal and interest only. Property taxes, condo fees, home insurance, legal fees and lender charges are excluded. Add any financed mortgage default-insurance premium to the entered balance. This is a payment comparison, not a mortgage approval or a stress-test calculation. No future renewal rate is predicted.
Include the costs around the mortgage.
Add property tax, insurance, utilities, condo or association fees and maintenance to the mortgage payment. Compare what condo fees include so you do not count the same utility twice.
Set aside closing costs and a cash reserve before deciding how much of your savings to use as the down payment.
Test the payment before committing.
Compare the quoted rate with a higher-rate scenario and look at the effect of a shorter amortization. Ask your lender about qualification, insurance, prepayment rules and the amount needed at closing.
If the purchase depends on selling your current home, request a free evaluation and a 2% commission estimate so your down payment plan starts with realistic proceeds.