Mortgage Payment Calculator
Mortgage Payment Calculator
- "Purchase price" to calculate the payments for a property you are considering.
- "Mortgage balance" to calculate the payments based on your current mortgage.
- Purchase price (this section shows new fields for section"To calculate, use:")
- Mortgage balance (this section shows new fields for section"To calculate, use:")
Form
Results
None
You want
To optimize your payments:
Change the type of mortgage
Choose a shorter term or a variable rate mortgage to save on interest payments. However, make sure you consider your borrowing profile.
Change your payment frequency
Making accelerated payments adds up to 1 extra payment per year and will help you pay off your mortgage faster.
Add a prepayment
Want to pay off your mortgage faster? Have you come into some money? At any time and without penalty, you can:
- Pay off up to 15% of your original mortgage amount.
- Double up your mortgage payments.
Reduce your amortization period
With a shorter amortization period, you'll make higher mortgage payments but you'll pay less interest in the long run. However, if you choose a longer amortization, you can reduce it by paying your mortgage off faster.
Combine your mortgage
If you're not sure what kind of mortgage to choose, you can combine 2 types of mortgages. This will shield you from interest rate fluctuations and save you money. Make sure you consider your borrowing profile.
Results
None
Online tools are provided to help you plan, carry out your projects or give you information about housing. They must only be used for personal purposes.
Results are based on the information you enter. Contact your caisse advisor for personalized advice, preauthorization or financing.
Calculation assumptions
Calculations are based on the following assumptions:
- Interest is compounded semi-annually for a fixed-rate loan and monthly for a variable rate loan.
- Interest rate remains the same during the whole amortization period
The results of this calculator are estimates based on the general data you entered. They may change according to your financial and budgetary situation at the time of the loan.
Remarks
Calculate the amount of your current mortgage payments, or the payments for a mortgage you are considering. It presents various scenarios for interest rates and terms, payment frequency and life and disability insurance choices related to the mortgage. The calculator also allows you to consider splitting the financing into combined mortgages with different features.
If you are thinking about a hybrid mortgage or if you opt for Desjardins insurance protection, the information gathered during these steps will not change the results shown outside the life and disability insurance and hybrid mortgage windows.
The interest rates presented in the table are recommended by the Fédération des caisses Desjardins du Québec to the Quebec caisses and the member caisses of the Ontario Federation of Caisses Populaires Inc.. Rates do not take into account the cost of life and disability insurance, should you choose it. They are subject to change without notice. Certain conditions apply.
Customize the PDF document (optional)
| No. | Date | Payment ($) | Interets ($) | Principal ($) | Balance ($) |
|---|
Contact an advisor
By phone
- 514 CAISSES (514 224-7737)
- 1 800 CAISSES (1 800 224-7737)
At a caisse
Change the type of mortgage
Choose a shorter term or a variable rate mortgage to save on interest payments. However, make sure you consider your borrowing profile.
Change your payment frequency
Making accelerated payments adds up to 1 extra payment per year and will help you pay off your mortgage faster.
Add a prepayment
Want to pay off your mortgage faster? Have you come into some money? At any time and without penalty, you can:
- Pay off up to 15% of your original mortgage amount.
- Double up your mortgage payments.
Reduce your amortization period
With a shorter amortization period, you'll make higher mortgage payments but you'll pay less interest in the long run. However, if you choose a longer amortization, you can reduce it by paying your mortgage off faster.
Combine your mortgage
If you're not sure what kind of mortgage to choose, you can combine 2 types of mortgages. This will shield you from interest rate fluctuations and save you money. Make sure you consider your borrowing profile.