Canadian Tax and
Financial Information
Loan and Mortgage Calculator

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Option 1
Option 2
Option 3
Loan amount
Annual % interest rate
Amortization period, select mos or yrs 
Payment frequency
Payments per year
Compounding frequency
# compounding periods per year
Effective annual rate
Regular payment amount
Increase payment by
Increased payment amount
Additional payment every 12 months
Tip:  Increase the bi-weekly payment to 1/2 of the monthly payment (using "Increase payment by" field), and see the savings.
Total payments and interest with regular payment amount:              
Total # of payments
Total payments
Total interest paid
Total payments and interest with increased payments:                
Total # of payments
Total payments
Total interest paid
Interest saved by increased payments
Amortization period shortened by
Outstanding balance after specified number of months or years, including any increased payments:
Enter # of periods, select mos or yrs
Outstanding balance
Tip:  Pay down your non-tax-deductible debt as quickly as possible, starting with the debt with the highest interest rates!    
Fixed rate mortgages are usually compounded semi-annually, other loans are usually compounded monthly.
Interest charged by Canada Revenue Agency is compounded daily.

Questions or comments on the Loan and Mortgage Calculator? 
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Revised: July 14, 2019

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