Mortgage Calculator

Quick Explanation

Amount To Mortgage: This is the Mortgage amount required. For a purchase it is the purchase price of your home less the down payment.

Interest Rate: This is the interest rate the calculation uses, for example today's 5-year rate is 5.39 %.

Amortization Period: This is the number of years it takes to pay off your mortgage in its entirety, it is the period where by making only the minimum payments you are mortgage free.

Payment Frequency: This is how you wish to pay your mortgage. You can usually pay either once per month (e.g. on the 1st), semi-monthly (1st and 15th), bi-weekly (Once every 2 weeks), and once per week.