Amortization Calculator
Compare 15, 20, 25 and 30-year amortizations side by side to see the payment and total interest trade-off.
Type exact values (cents included) or drag a slider to get close. To fine-tune, click the slider and press Left arrow keyRight arrow key on your keyboard: each press moves mortgage amounts by $100 and interest rates by 0.01%.
Type an exact value from $100,000 to $1,500,000. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of $100.
Type an exact value from 2.00% to 8.00%. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of 0.01%.
Shorter amortization = higher payment, dramatically less interest. Longer = breathing room. The right answer depends on your cash flow.
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Get Exact Numbers — Free CallHow the Amortization Calculator Works
Amortization length is one of the biggest levers on both your monthly payment and your total interest cost — and it’s a choice, not a fixed rule, for most Canadian mortgages.
This calculator runs your mortgage amount and rate across the four most common amortization periods so you can see the full trade-off at a glance.
4 Steps to Your Results
The loan balance you’re amortizing, whether a new purchase or your current balance.
Applied consistently across every amortization length for a fair comparison.
See the monthly payment and total interest for 15, 20, 25 and 30 years side by side.
Weigh a lower monthly payment against dramatically less interest paid over a shorter amortization.
A $500,000 mortgage at 4.49% costs about $3,812/month over 15 years ($186,131 total interest), $3,149/month over 20 years ($255,852 interest), $2,765/month over 25 years ($329,376 interest), or $2,518/month over 30 years ($406,541 interest).
Going from 25 to 15 years raises the payment by about $1,047/month — but cuts total interest by roughly $143,245 over the life of the mortgage.
The right length depends on your monthly cash flow versus how much you want to minimize total interest paid.
Frequently Asked Questions
Common choices are 15, 20, 25 and 30 years. Insured mortgages (under 20% down) are generally capped at 25 years; uninsured mortgages can go up to 30.
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