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Mortgage Accelerator
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See how increasing your payment
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or the frequency of your payments
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can reduce the life of the mortgage
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and the total interest you pay.
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Scenario 1
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Scenario 2
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Mortgage loan
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$
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$
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Interest rate
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%
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%
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Amortization
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Yrs
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Yrs
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Payment frequency
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Mortgage payment
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Additional payment
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$
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$
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Total payment
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Paid off in
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Total interest
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Assumptions
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The maximum amortization in Canada is 25 years on
down payments of less than 20%.
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You can select from three types of accelerated
payments: accererated semi-monthly,
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accelerated bi-weekly or accelerated weekly.
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Disclaimer
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This calculator is for illustrative purposes only
and may not reflect the actual numbers
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in your mortgage loan agreement. You should not rely
on the results as indication of
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your financial needs and we recommend that you seek
out your own investment, legal,
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tax or professional advice.
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