// finance — mortgage
Mortgage Calculator.
Compare payment frequencies, model extra and one-time payments, and see exactly how each choice changes your interest and payoff time. Optional fields add property tax, insurance, PMI, and HOA. Everything stays in your browser.
Loan details
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$
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yr
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Extra payments (optional)
$
$
Extra and lump-sum payments go straight to principal, reducing total interest and shortening the loan.
Monthly costs (optional)
%
$
%
$
Estimated payment
$0/ mo
Scheduled principal & interest$0
Extra to principal$0
Equivalent monthly (loan)$0
Monthly carrying costs
Property tax$0
Home insurance$0
PMI$0
HOA$0
Total monthly cost$0
Loan summary
Loan amount$0
Total interest paid$0
Total of payments (incl. lump)$0
Payoff time—
Interest saved vs monthly$0
| Year | Interest | Principal | Balance |
|---|
How payment frequency affects interest
Same loan, no extra payments. “Accelerated” schedules make one extra monthly payment per year (split across the year), which is why they cut interest and payoff time.
| Frequency | Payment | Total interest | Payoff | Interest saved |
|---|
Where to find your rate
- Posted mortgage rates — your bank’s website lists current mortgage rates (for example RBC mortgage rates and the RBC prime rate). The prime rate is the benchmark most variable rates move with.
- Rate comparison sites — Ratehub and Rates.ca (Canada), or Bankrate (US) aggregate current offers side by side.
- Treat them as a guide — posted rates are approximations. Your actual rate depends on credit, down payment, loan type, and term, and is often negotiable below the posted rate. Use these to ballpark, then get a personalized quote.
This calculator is for estimation only. Actual loan terms, taxes, and fees vary by lender and location. PMI is typically required when your down payment is under 20%.