Mortgage calculator (Canada)
A mortgage is the longest payment most people ever sign for. This works out the payment, the interest, and how much sooner a little extra each month would free you. Recurna Flow shows the part that matters more — whether your real forecast can carry it, week by week.
Mortgage calculator
Enter the numbers and see the payment, the total interest, and how the balance falls over the amortization. Canadian fixed mortgages compound semi-annually — so that is how this calculates. No signup, no bank connection — the math runs right here.
Paying frees you sooner and saves in interest versus monthly.
Pay it off early
Paying $0 extra a month frees you sooner.
Nothing to finance.
Amortization schedule year-by-year & per payment
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $8,019 | $20,585 | $391,981 |
| 2 | $8,446 | $20,158 | $383,535 |
| 3 | $8,895 | $19,709 | $374,640 |
| 4 | $9,368 | $19,236 | $365,272 |
| 5 | $9,866 | $18,738 | $355,406 |
| 6 | $10,391 | $18,213 | $345,014 |
| 7 | $10,944 | $17,660 | $334,071 |
| 8 | $11,526 | $17,078 | $322,545 |
| 9 | $12,139 | $16,465 | $310,406 |
| 10 | $12,785 | $15,819 | $297,621 |
| 11 | $13,465 | $15,139 | $284,156 |
| 12 | $14,181 | $14,423 | $269,976 |
| 13 | $14,935 | $13,669 | $255,041 |
| 14 | $15,729 | $12,875 | $239,311 |
| 15 | $16,566 | $12,038 | $222,745 |
| 16 | $17,447 | $11,157 | $205,298 |
| 17 | $18,375 | $10,229 | $186,923 |
| 18 | $19,353 | $9,251 | $167,570 |
| 19 | $20,382 | $8,222 | $147,188 |
| 20 | $21,466 | $7,138 | $125,722 |
| 21 | $22,608 | $5,996 | $103,114 |
| 22 | $23,810 | $4,794 | $79,304 |
| 23 | $25,077 | $3,527 | $54,227 |
| 24 | $26,411 | $2,194 | $27,817 |
| 25 | $27,817 | $789 | $0 |
| Payment | Principal | Interest | Balance |
|---|
Compare payment frequencies
Recurna Flow
That is the loan math. The part a calculator can't show you is whether your real balance can carry that extra payment in the month your insurance renews and the car needs tires — week by week, for the whole amortization.
Flow is in invite-only beta — apply once (reviewed weekly), and founding members get Pro free for a year.
Estimates only, not financial advice. Shows principal and interest at one fixed rate for the whole amortization — Canadian fixed mortgages renew each term at a new rate. Excludes property tax, home insurance, condo fees, and mortgage default insurance (CMHC), which is required with less than 20% down.
How this math works
Canadian fixed-rate mortgages don't compound the way most online calculators assume. The Interest Act sets semi-annual compounding as the rule for fixed rates, no matter how often you actually make a payment — monthly, bi-weekly, or weekly. A calculator built for the US market compounds monthly instead, which quietly understates your real interest. This one uses the Canadian rule, so the payment and interest figures match what your lender will actually charge. The amortization is the full payoff length you chose — often 25 or 30 years — but your rate is only locked for the term, typically one to five years, after which you renew at whatever rate is current. Extra payments come straight off the principal, which is why even a modest amount saves more in interest the earlier you pay it. None of this includes property tax, home insurance, condo fees, or CMHC insurance, which applies with less than 20% down — those sit outside the loan math shown here.
Why do Canadian mortgages compound semi-annually?
The Interest Act requires it for fixed-rate mortgages, regardless of how often you make payments. A US mortgage calculator that compounds monthly will give you a slightly different number than a Canadian lender's — this one uses the Canadian rule.
What does "accelerated" bi-weekly or weekly actually do?
Accelerated bi-weekly takes your monthly payment, halves it, and charges it every two weeks — 26 times a year, which works out to one extra monthly payment annually. Regular bi-weekly (not accelerated) just splits the same annual total into 26 even payments and saves nothing extra.
What's the difference between the term and the amortization?
The amortization is the full length of the loan — often 25 or 30 years. The term is how long your current rate is locked in, typically 1–5 years. You renew at a new rate for a new term until the amortization is paid off.
How much do extra payments actually save?
Extra payments come off the principal directly, so they reduce the interest charged on every payment after them for the rest of the amortization. The early-payoff toggle above shows the exact interest and time saved for the extra you enter.
What does this calculator leave out?
Property tax, home insurance, condo fees, and mortgage default insurance (CMHC, required with less than 20% down) aren't included — only principal and interest at one fixed rate for the amortization shown.