Mortgage Rate Comparison Calculator
Compare up to three mortgage scenarios — rate, term and amortization — side by side on the same mortgage amount.
Type an exact value from $50,000 to $3,000,000. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of $100.
Type your exact balance, including cents, or drag the slider to get close, then press Left arrow keyRight arrow key on your keyboard to fine-tune in $100 steps. Enter each rate below to 0.01%.
Type an exact value from 1.00% to 10.00%. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of 0.01%.
Type an exact value from 1.00% to 10.00%. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of 0.01%.
Type an exact value from 1.00% to 10.00%. Dragging the slider moves quickly. With the slider focused, press the left or right arrow key to move in steps of 0.01%.
Side-by-Side Results
$500,000 mortgage| Metric | 5-Yr Fixed4.49% · 5-yr Fixed · 25-yr amortization | 3-Yr Fixed4.29% · 3-yr Fixed · 25-yr amortization | 5-Yr Variable4.05% · 5-yr Variable · 25-yr amortization |
|---|---|---|---|
| Monthly Payment | $2,764.59 | $2,709.29 | $2,643.67Best |
| Interest — First 3 YrsSame window for every scenario | $64,508.64 | $61,602.73 | $58,118.12Best |
| Interest Paid Over Term | $104,784.38 | $61,602.73 | $94,268.16 |
| Principal Paid Over Term | $61,090.77 | $35,931.83 | $64,352.11 |
| Balance at End of Term | $438,909.23 | $464,068.17 | $435,647.89 |
| Total Interest — Full AmortizationIf the rate held the whole way | $329,375.74 | $312,788.01 | $293,101.34Best |
5-Yr Variable saves $6,390.52 in interest over the first 3 years compared with 5-Yr Fixed.
Estimates use Canadian semi-annual compounding with monthly payments. Variable scenarios assume today’s rate holds for the term. Excludes CMHC insurance, fees and penalties. Rates subject to change, OAC.
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Get Exact Numbers — Free CallHow the Mortgage Rate Comparison Calculator Works
Choosing between mortgage offers usually means comparing more than one number. This tool lets you set a mortgage amount once, then build up to three full scenarios — each with its own rate, term, amortization and fixed-or-variable type — and see monthly payment and total interest for every one, side by side.
It’s built for renewal shopping, comparing lender offers, or deciding between a fixed and a variable rate on the exact same mortgage.
4 Steps to Your Results
Enter the balance or amount you’re financing — it applies to every scenario so the comparison is fair.
Give each scenario a rate, a term (1–10 years), an amortization and a fixed or variable type. Add a third scenario if you have more than one offer to weigh.
The results table lines up monthly payment, interest over your term, principal paid, and remaining balance for every scenario, with the best result highlighted.
Send yourself the full side-by-side breakdown to review later or share with a co-borrower.
On a $500,000 mortgage, compare a 5-year fixed at 4.49%, a 3-year fixed at 4.29%, and a 5-year variable at 4.05% — the calculator’s starting scenarios.
The 5-year fixed payment is about $2,765/month, the 3-year fixed about $2,709/month, and the 5-year variable about $2,644/month. Over the first three years — the common window across all three terms — the variable scenario pays roughly $6,391 less interest than the 5-year fixed, assuming today’s variable rate holds.
Swap in your own lender quotes above to see which offer actually wins for your numbers.
Frequently Asked Questions
Up to three. Each one has its own rate, term, amortization and fixed/variable type, all measured against the same mortgage amount.
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