Mortgage Calculator
Work out your monthly mortgage payment, see the full amortization schedule, and find out how much an extra payment each month saves you. Handles property tax, insurance, PMI, and HOA — and supports both US (monthly) and Canadian (semi-annual) interest compounding, which most calculators get wrong.
Your mortgage
Advanced: taxes, insurance, PMI & extra payments
Monthly payment
Loan summary
Amortization schedule (per year)
| Year | Principal paid | Interest paid | Balance |
|---|
Rows reflect any extra monthly payment. PMI/CMHC automatically stops once your balance drops below 80% of the home's value.
How this is calculated
Principal & interest use the standard amortizing-loan formula. For Monthly compounding the periodic rate is the annual rate ÷ 12. For Canadian semi-annual compounding (how fixed-rate Canadian mortgages legally work), the rate is compounded twice a year and converted to a monthly equivalent — so the same posted rate gives a slightly lower payment than a naïve US-style calculation. Taxes, insurance, HOA and PMI are added on top of principal & interest. PMI/CMHC is applied while the loan-to-value ratio is above 80% and removed automatically once you cross that line.