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Mortgage Rates in Canada

Mortgage Length Calculator

Input Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Considered Monthly Payment
Monthly Payment : ($)

Now that you have more information about your mortgage, take the next step and speak to a Mortgage Consultant today!

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Financial Analysis (Switch to Plain English)
Original Payment : $1,334.23
New Payment : $1,304.12
New Length of Loan : 32 Years 2 Months
Results: In Plain English (Switch to Financial Analysis)

If you start to pay more or less toward your mortgage each month than the original payment amount, you can save or add a number of years to the length of your mortgage. Even the difference of just $40 can save you a couple of years or add a couple years to the length of your payment.

If you took out a mortgage loan for $250,000.00 with a 5.000% interest rate, for example, you could expect to pay $1,334.23 per month. If you change your payment to $1,304.12, however, you will have to pay on your mortgage for 32 year(s) and 2 month(s) instead of 30 years.
DISCLAIMER: There is NO WARRANTY or guarantee, expressed or implied, for the accuracy of the information obtained by using these calculators or its applicability to your specific financial situation. While we make every effort humanly possible to maintain the highest degree of accuracy, every situation is different. Please consult an experienced Mortgages Canada representative for more information.