Maximum Mortgage
Mortgage Payments & Amortization
Pre-payment Calculator
Renting vs. Buying
Please enter the following information:
Your annual combined income:
$
Min. payments for loans & credit cards:
$
Monthly heating costs/condo fees:
$
Annual property taxes:
$
Other monthly financing payments:
$
Interest rate:
%
Please enter the following information:
Mortgage Amount:
$
Amortization Period:
1
5
7
10
20
25
30
Years
Interest Rate:
%
Your Country:
Canada
United States
Your current mortgage information:
Mortgage Amount:
$
Interest Rate:
%
Amortization Period:
1
5
7
10
20
25
30
Years
Payment Frequency:
Monthly
Semi-Monthly
Bi-Weekly
Weekly
Accelerated Bi-Weekly
Accelerated Weekly
Mortgage Start Date:
January
February
March
April
May
June
July
August
September
October
November
December
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Your Country:
Canada
United States
Calculate mortgage savings using a lump sum:
One-time payment today
Multiple payments
How many?
Payment Amount:
$
Note:
Multiple lump sum payments will be applied annually from today.
Calculate mortgage savings using an increased payment:
Increase my mortgage payment by:
a fixed dollar amount
a percentage
Amount:
$
Percentage:
%
How often?
one-time increase
each year
a specific number of months
How many months?
If you buy:
Monthly Payment:
$
Down Payment:
$
Interest Rate:
%
Annual Property Taxes:
$
Annual Increase in Home Value:
0
1
2
3
4
5
6
%
If you rent:
Monthly Rent:
$
Years of Comparison:
1
2
3
4
5
6
7
8
9
10
Years