Mortgage Comparison
Compare up to 4 mortgage scenarios side-by-side with Canadian rates and rules
Scenario Comparison
| Metric | Scenario 1 | Scenario 2 | Scenario 3 |
|---|---|---|---|
| Down Payment | $50,000 | $100,000 | $50,000 |
| CMHC Insurance | $13,950 | — | $13,950 |
| Total Mortgage | $463,950 | $400,000 | $463,950 |
| Monthly Payment | $2,832 | $2,442 | $3,068 |
| Total Interest | $385,623 | $332,470 | $320,543 |
| Interest Saved | — | — | — |
| Total Paid | $849,573 | $732,470 | $784,493 |
| Payoff Time | 25y 0m | 25y 0m | 21y 4m |
Land Transfer Tax
Provincial LTT$6,475
Municipal LTT$6,475
Net LTT$12,950
Effective Rate2.59%
Interest Comparison
Balance Over Time
Payment Breakdown
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,832 | $767 | $2,065 | $454,975 |
| 2 | $2,832 | $809 | $2,023 | $445,500 |
| 3 | $2,832 | $855 | $1,977 | $435,497 |
| 4 | $2,832 | $902 | $1,930 | $424,935 |
| 5 | $2,832 | $952 | $1,879 | $413,785 |
| 6 | $2,832 | $1,006 | $1,826 | $402,014 |
| 7 | $2,832 | $1,062 | $1,770 | $389,586 |
| 8 | $2,832 | $1,121 | $1,711 | $376,465 |
| 9 | $2,832 | $1,183 | $1,649 | $362,612 |
| 10 | $2,832 | $1,249 | $1,583 | $347,987 |
| 11 | $2,832 | $1,319 | $1,513 | $332,547 |
| 12 | $2,832 | $1,392 | $1,439 | $316,245 |
| 13 | $2,832 | $1,470 | $1,362 | $299,035 |
| 14 | $2,832 | $1,552 | $1,280 | $280,865 |
| 15 | $2,832 | $1,639 | $1,193 | $261,682 |
| 16 | $2,832 | $1,730 | $1,102 | $241,430 |
| 17 | $2,832 | $1,826 | $1,005 | $220,048 |
| 18 | $2,832 | $1,928 | $904 | $197,475 |
| 19 | $2,832 | $2,036 | $796 | $173,642 |
| 20 | $2,832 | $2,149 | $683 | $148,481 |
| 21 | $2,832 | $2,269 | $563 | $121,917 |
| 22 | $2,832 | $2,396 | $436 | $93,872 |
| 23 | $2,832 | $2,529 | $303 | $64,263 |
| 24 | $2,832 | $2,670 | $162 | $33,003 |
| 25 | $2,832 | $2,819 | $13 | $0 |