Calculation method
A fixed monthly payment is calculated, then interest and principal are applied month by month and summarized by year.
Mortgages · General formulas
Mortgage Amortization Calculator
See how each year of payments reduces your mortgage balance. Use the example values or enter your own numbers to explore an estimate.
Currency formatting only—not an exchange-rate conversion. No country-specific tax or government rules are applied.
Your results
See a clear estimate
Enter your details to see a personalized calculation, a simple projection, and the assumptions behind it.
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The PDF includes active input values and option labels, results, sources, model assumptions, and the schedule when available. Schedule periods follow the model: years, months, or actual payments.
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Share assumptions, never dollar amounts
Links include eligible rate, term or frequency assumptions only. Dollar amounts are never included. Recipients must enter their own amounts; the link will not reproduce your full financial scenario.
Assumptions & limits
- Fixed monthly rate and payment.
- No fees, prepayments, or payment changes.
- Basis: User-entered values.
- Basis: Standard fixed-payment and time-value-of-money formulas.
- Basis: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html.
- Basis: https://itools-ioutils.fcac-acfc.gc.ca/MC-CH/MortgageCalculator.aspx.
Source/rule review year: Not applicable — general mathematical model.
READ THE METHOD
How mortgage amortization works Want the mechanics before comparing scenarios?