Mortgage payment calculator
Enter the loan, the rate, and how often you pay. The schedule rounds every period to the cent and stops when the balance is zero.
Key terms
- Loan
- $400,000.00
- Rate
- 5.00%
- Compounding
- Semi-annual
- Term
- 5 years
- Maturity
- Nov 1, 2031
- Amortization
- 25 years
- Payment
- $2,326.42
- Frequency
- Monthly
- First payment
- Dec 1, 2026
Last payment at the initial rate
Calculated from the amortization
Totals
Balance at maturity$354,030.03Nov 1, 2031
Interest over the term$93,615.235 years at the initial rate
Interest over the amortization$297,925.98Until the balance is zero
Total paid$697,925.98Payments plus any lump sums on this path
Balance owing
Year-end balance. The marker is the balance after the last payment of the term.
Principal and interest
Each year of the contracted schedule.
Amortization schedule
Years marked assumed use the renewal rate.
| Year | Payments | Paid | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | Dec 1, 2026 to Nov 1, 2027 | $27,917.04 | $19,608.00 | $8,309.04 | $391,690.96 |
| 2 | Dec 1, 2027 to Nov 1, 2028 | $27,917.04 | $19,187.38 | $8,729.66 | $382,961.30 |
| 3 | Dec 1, 2028 to Nov 1, 2029 | $27,917.04 | $18,745.43 | $9,171.61 | $373,789.69 |
| 4 | Dec 1, 2029 to Nov 1, 2030 | $27,917.04 | $18,281.13 | $9,635.91 | $364,153.78 |
| 5 | Dec 1, 2030 to Nov 1, 2031 | $27,917.04 | $17,793.29 | $10,123.75 | $354,030.03 |
| 6Assumed renewal rate | Dec 1, 2031 to Nov 1, 2032 | $27,917.04 | $17,280.81 | $10,636.23 | $343,393.80 |
| 7Assumed renewal rate | Dec 1, 2032 to Nov 1, 2033 | $27,917.04 | $16,742.32 | $11,174.72 | $332,219.08 |
| 8Assumed renewal rate | Dec 1, 2033 to Nov 1, 2034 | $27,917.04 | $16,176.59 | $11,740.45 | $320,478.63 |
| 9Assumed renewal rate | Dec 1, 2034 to Nov 1, 2035 | $27,917.04 | $15,582.23 | $12,334.81 | $308,143.82 |
| 10Assumed renewal rate | Dec 1, 2035 to Nov 1, 2036 | $27,917.04 | $14,957.80 | $12,959.24 | $295,184.58 |
| 11Assumed renewal rate | Dec 1, 2036 to Nov 1, 2037 | $27,917.04 | $14,301.74 | $13,615.30 | $281,569.28 |
| 12Assumed renewal rate | Dec 1, 2037 to Nov 1, 2038 | $27,917.04 | $13,612.46 | $14,304.58 | $267,264.70 |
| 13Assumed renewal rate | Dec 1, 2038 to Nov 1, 2039 | $27,917.04 | $12,888.29 | $15,028.75 | $252,235.95 |
| 14Assumed renewal rate | Dec 1, 2039 to Nov 1, 2040 | $27,917.04 | $12,127.46 | $15,789.58 | $236,446.37 |
| 15Assumed renewal rate | Dec 1, 2040 to Nov 1, 2041 | $27,917.04 | $11,328.10 | $16,588.94 | $219,857.43 |
| 16Assumed renewal rate | Dec 1, 2041 to Nov 1, 2042 | $27,917.04 | $10,488.30 | $17,428.74 | $202,428.69 |
| 17Assumed renewal rate | Dec 1, 2042 to Nov 1, 2043 | $27,917.04 | $9,605.96 | $18,311.08 | $184,117.61 |
| 18Assumed renewal rate | Dec 1, 2043 to Nov 1, 2044 | $27,917.04 | $8,678.96 | $19,238.08 | $164,879.53 |
| 19Assumed renewal rate | Dec 1, 2044 to Nov 1, 2045 | $27,917.04 | $7,705.05 | $20,211.99 | $144,667.54 |
| 20Assumed renewal rate | Dec 1, 2045 to Nov 1, 2046 | $27,917.04 | $6,681.81 | $21,235.23 | $123,432.31 |
| 21Assumed renewal rate | Dec 1, 2046 to Nov 1, 2047 | $27,917.04 | $5,606.77 | $22,310.27 | $101,122.04 |
| 22Assumed renewal rate | Dec 1, 2047 to Nov 1, 2048 | $27,917.04 | $4,477.31 | $23,439.73 | $77,682.31 |
| 23Assumed renewal rate | Dec 1, 2048 to Nov 1, 2049 | $27,917.04 | $3,290.67 | $24,626.37 | $53,055.94 |
| 24Assumed renewal rate | Dec 1, 2049 to Nov 1, 2050 | $27,917.04 | $2,043.98 | $25,873.06 | $27,182.88 |
| 25Assumed renewal rate | Dec 1, 2050 to Nov 1, 2051 | $27,917.02 | $734.14 | $27,182.88 | $0.00 |
Home equity
Purchase price compounded each year, minus the mortgage balance.
Down payment$100,000.00Purchase price minus the loan
Equity at year 3$172,573.81$546,363.50 home, $373,789.69 mortgage
Equity at year 10$376,773.61$671,958.19 home, $295,184.58 mortgage
Equity at year 25$1,046,888.96$1,046,888.96 home, $0.00 mortgage
| Year | Ends | Home value | Mortgage | Equity | Principal repaid | Price growth | Equity % |
|---|---|---|---|---|---|---|---|
| Start | Dec 1, 2026 | $500,000.00 | $400,000.00 | $100,000.00 | $0.00 | $0.00 | 20.0% |
| 1 | Dec 1, 2027 | $515,000.00 | $391,690.96 | $123,309.04 | $8,309.04 | $15,000.00 | 23.9% |
| 2 | Dec 1, 2028 | $530,450.00 | $382,961.30 | $147,488.70 | $17,038.70 | $30,450.00 | 27.8% |
| 3 | Dec 1, 2029 | $546,363.50 | $373,789.69 | $172,573.81 | $26,210.31 | $46,363.50 | 31.6% |
| 4 | Dec 1, 2030 | $562,754.41 | $364,153.78 | $198,600.63 | $35,846.22 | $62,754.41 | 35.3% |
| 5 | Dec 1, 2031 | $579,637.04 | $354,030.03 | $225,607.01 | $45,969.97 | $79,637.04 | 38.9% |
| 6 | Dec 1, 2032 | $597,026.15 | $343,393.80 | $253,632.35 | $56,606.20 | $97,026.15 | 42.5% |
| 7 | Dec 1, 2033 | $614,936.93 | $332,219.08 | $282,717.85 | $67,780.92 | $114,936.93 | 46.0% |
| 8 | Dec 1, 2034 | $633,385.04 | $320,478.63 | $312,906.41 | $79,521.37 | $133,385.04 | 49.4% |
| 9 | Dec 1, 2035 | $652,386.59 | $308,143.82 | $344,242.77 | $91,856.18 | $152,386.59 | 52.8% |
| 10 | Dec 1, 2036 | $671,958.19 | $295,184.58 | $376,773.61 | $104,815.42 | $171,958.19 | 56.1% |
| 11 | Dec 1, 2037 | $692,116.94 | $281,569.28 | $410,547.66 | $118,430.72 | $192,116.94 | 59.3% |
| 12 | Dec 1, 2038 | $712,880.44 | $267,264.70 | $445,615.74 | $132,735.30 | $212,880.44 | 62.5% |
| 13 | Dec 1, 2039 | $734,266.86 | $252,235.95 | $482,030.91 | $147,764.05 | $234,266.86 | 65.6% |
| 14 | Dec 1, 2040 | $756,294.86 | $236,446.37 | $519,848.49 | $163,553.63 | $256,294.86 | 68.7% |
| 15 | Dec 1, 2041 | $778,983.71 | $219,857.43 | $559,126.28 | $180,142.57 | $278,983.71 | 71.8% |
| 16 | Dec 1, 2042 | $802,353.22 | $202,428.69 | $599,924.53 | $197,571.31 | $302,353.22 | 74.8% |
| 17 | Dec 1, 2043 | $826,423.82 | $184,117.61 | $642,306.21 | $215,882.39 | $326,423.82 | 77.7% |
| 18 | Dec 1, 2044 | $851,216.53 | $164,879.53 | $686,337.00 | $235,120.47 | $351,216.53 | 80.6% |
| 19 | Dec 1, 2045 | $876,753.03 | $144,667.54 | $732,085.49 | $255,332.46 | $376,753.03 | 83.5% |
| 20 | Dec 1, 2046 | $903,055.62 | $123,432.31 | $779,623.31 | $276,567.69 | $403,055.62 | 86.3% |
| 21 | Dec 1, 2047 | $930,147.29 | $101,122.04 | $829,025.25 | $298,877.96 | $430,147.29 | 89.1% |
| 22 | Dec 1, 2048 | $958,051.70 | $77,682.31 | $880,369.39 | $322,317.69 | $458,051.70 | 91.9% |
| 23 | Dec 1, 2049 | $986,793.26 | $53,055.94 | $933,737.32 | $346,944.06 | $486,793.26 | 94.6% |
| 24 | Dec 1, 2050 | $1,016,397.05 | $27,182.88 | $989,214.17 | $372,817.12 | $516,397.05 | 97.3% |
| 25 | Dec 1, 2051 | $1,046,888.96 | $0.00 | $1,046,888.96 | $400,000.00 | $546,888.96 | 100.0% |
What if you pay extra
A lump sum lands after every 12th payment. At renewal the payment is recalculated on whatever balance is left, and the increase is kept.
%
%
$
%
%
Interest saved$0.00Against the same loan with no extras
Time cut0 moHow much sooner the balance hits zero
Balance at maturity$354,030.03Contracted $354,030.03
Payment after renewal$2,326.42Contracted $2,326.42
How it's modeled
- The contractual payment is the level amount that pays the loan off over the full amortization, rounded to the nearest cent. Each period, interest is the balance times the period rate, rounded to the nearest cent, and the schedule stops once the balance is zero.
- Semi-annual compounding, the Canadian fixed-mortgage convention, uses a period rate of (1 + annual rate / 2) raised to 2 / payments per year, minus 1. Monthly compounding divides the annual rate by the number of payments per year. Accelerated weekly pays one quarter of the monthly payment every week, and accelerated bi-weekly pays half of the monthly payment every two weeks.
- The term is a count of payments at the initial rate. The next payment is recalculated on the remaining balance over the remaining amortization at the renewal rate. Years after the term are marked as assumed at that renewal rate. The renewal rate is a scenario, not a lender quote.
- A lump sum is applied after every 12th payment and cannot exceed the lump-sum cap, a percent of the original principal. A payment increase cannot exceed the increase cap, and that same percent is applied again when the payment is recalculated at renewal. Interest saved and time cut compare this path with the same loan and renewal rate and no extras.
- Home value starts at the purchase price and compounds at the annual growth rate. Equity is home value minus the mortgage balance. The chart floors down payment, principal repaid, and price growth at zero. The table keeps a negative price change.
- This is an educational model, not financial advice.