Mortgage Calculator
Explore how different factors affect your monthly payment, the potential principal paid over your term, and other detailed breakdowns.
Your Estimated Payments
Payment Amount
$1,860.85
per month
Total Principal
$320,000
Total Interest
$238,254
Total Cost
$558,254
Note: With a down payment less than 20%, mortgage default insurance (CMHC) is required. The estimated premium of has been added to your mortgage amount.
This calculator provides estimates only. Contact me for accurate rates and terms.
Understanding Your Results
Payment Amount
Your regular mortgage payment based on the selected frequency.
Total Principal
The amount borrowed (home price minus down payment, plus any mortgage insurance).
Total Interest
The total interest you'll pay over the full amortization period.
Total Cost
The combined principal and interest paid over the life of the mortgage.
Tips to Lower Your Payment
- Increase your down payment to reduce the principal and avoid CMHC insurance
- Shop around for the best interest rate — even small differences add up
- Consider bi-weekly payments to pay off your mortgage faster
- Improve your credit score before applying for a better rate
Looking for a Better Rate?
This calculator provides estimates based on standard calculations. Your actual rate depends on your credit, income, and other factors. Let me help you find the best rate for your situation.
Get Your Personalized Rate