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Mortgage
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Estimate your regular mortgage payment, then see how lump sums and larger payments shorten the time it takes to pay it off.
Mortgage details
Pay it off faster
Your mortgage
Your payment
$1,788monthly
Mortgage amount$300,000
Paid off in25 years, 1 month
Total interest$236,328
Interest saved$0
Principal 56%Interest 44%
For illustration only. Payments assume interest compounded semi-annually, the standard for Canadian fixed-rate mortgages. Bi-weekly and weekly payments are accelerated (half and a quarter of the monthly payment), which shortens the time it takes to pay off your mortgage. Lump sums and payment increases are applied at the start of the year you choose. Your actual payment depends on your lender’s terms.