Find Out What Your Mortgage Really Costs
Use our free Canadian Mortgage Calculator to estimate your monthly (or accelerated) payments, total interest, and how much faster you can be debt-free with extra payments. Built with Canadian rules in mind (semi-annual compounding), this tool gives you a clear picture of your budget—before you talk to a lender
Canadian Mortgage Calculator (2025)
Accurate payments using Canadian semi‑annual compounding, plus accelerated bi‑weekly/weekly estimates, prepayment savings, and CSV export.
Educational tool only — not financial advice. Results are estimates.
Quick Tips
- Canada uses semi‑annual compounding for posted mortgage rates.
- Accelerated bi‑weekly ~ monthly × 12 ÷ 26 (pays off faster).
- Prepayments can save years of interest.
Inputs
Results
Bi‑weekly/weekly figures shown as accelerated estimates (monthly × 12 ÷ periods). Canada uses semi‑annual compounding for posted rates; we convert to an effective monthly rate for amortization math.
Amortization Schedule (first 24 months)
| Month | Payment | Principal | Interest | Extra | Balance |
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Disclaimer: This calculator provides estimates only and may not account for all lender rules or premiums. For an exact quote, speak with a licensed mortgage professional.
Snowball vs. Avalanche: What’s the Difference?
When it comes to debt repayment, two of the most popular strategies are the Debt Snowball and the Debt Avalanche. Both can help you become debt-free, but they work in slightly different ways depending on your personality and goals.
🔹 Debt Snowball Method
How it works:
List your debts from smallest balance to largest balance, regardless of interest rate.
Pay the minimums on all debts, then put any extra money toward the smallest debt first.Why people like it:
Provides quick “wins” by eliminating smaller debts faster.
Builds motivation and momentum, which helps people stay consistent.
Best for you if:
You’re motivated by progress and need to see debts disappear quickly to stay on track.
🔹 Debt Avalanche Method
How it works:
List your debts from highest interest rate to lowest interest rate, regardless of balance.
Pay the minimums on all debts, then put any extra money toward the highest-interest debt first.Why people like it:
Saves the most money on interest over time.
Gets you out of debt faster (mathematically) if you stick with it.
Best for you if:
You’re motivated by saving money and want the most efficient path to being debt-free.
Which One Should You Choose?
If you need emotional wins → go with Snowball.
If you want mathematical savings → go with Avalanche.
Both strategies work. The most important thing is to start, stay consistent, and keep making payments.
👉 Try both methods in the calculator below to see which one fits your style best!
Debt Repayment Calculator
Compare Snowball vs Avalanche, add extra payments, and see payoff time & interest.
| Debt Name | Balance ($) | APR (%) | Min Payment ($) | |
|---|---|---|---|---|
Monthly Plan
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Disclaimer
This tool provides estimates for educational purposes only and does not constitute financial advice. Actual results may vary based on fees, interest compounding, lender policies, and your payment behavior.