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Your real payment, what extra payments or accelerated bi-weekly actually save you, and what the amortization length costs in total interest over the life of the loan.

Home price

Down payment, %

Interest rate, %/yr

Amortization, years

Payment frequency

Extra payments — use whichever apply, or none

Extra, added to every regular payment

Extra lump sum, once per year

One-time extra payment (this year only)

What extra payments and bi-weekly are actually worth

Same loan, same rate — just standard monthly with no extra, compared to what you've set above.

25 vs. 30 years — what the extra 5 years really costs

Down payment rules that actually apply: in Canada, a down payment under 20% requires CMHC (or equivalent) mortgage default insurance, which adds a real premium to your loan — not modeled here. Homes over $1.5 million require at least 20% down regardless. This calculator assumes a conventional (20%+) mortgage.

Why the amortization length matters more than it looks

A longer amortization lowers your monthly payment, which is real, immediate relief — but it also means you're paying interest on the loan for years longer, and early payments in any mortgage go mostly toward interest, not principal. The comparison above isn't saying 25 years is always right; it's showing the actual number so it's a real trade-off, not a guess.

Want to see this mortgage decision against your real assets, income, and goals?

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