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Mortgage amortization schedule calculator
See every payment on your mortgage: how much goes to interest, how much comes off the balance, and the payment where principal overtakes interest. The summary and the CSV download are both free, and you don't need to sign up for anything.
Your numbers
What you're borrowing, after the down payment and including any insurance premium added to the mortgage.
Seeded with our published 5-year fixed, as of September 21, 2026 at 9:00 a.m. MT.
Years and months, so the schedule can match a mortgage you're partway through.
Bi-weekly means every 14 days, which isn't the same as twice a month.
Marks the end of your contract on the schedule and the charts.
Advanced options(4)
When it starts
First payment
Your lender sets this from the interest adjustment date on your commitment.
Prepayments
Extra money against the principal, on top of the regular payment.
Rate taken from the RateLens published table, current as of September 21, 2026 at 9:00 a.m. MT. Rules, premium tiers and fee schedules current as of September 16, 2026.
Your payment
$2,654.56every month
300 payments, the first on October 1, 2026 and the last on September 1, 2051.
- Total interest
- $296,364Over the whole amortization, if nothing changes
- Total paid
- $796,364Principal, interest and any prepayments
- Final payment
- $2,650.53Smaller than the rest, because the rounding lands here
- Balance at renewal
- $435,949What you owe after 5 years
Principal first beats interest at payment 96
Your term against the full amortization
A Canadian mortgage is a short contract inside a long loan. The left column covers the term you sign for. The right column covers the whole loan if nothing changes.
| Measure | Over your 5-year term | Over the full 25 years |
|---|---|---|
| Number of payments | 60 | 300 |
| Principal paid | $64,051.14 | $500,000.00 |
| Interest paid | $95,222.46 | $296,363.97 |
| Prepayments | $0.00 | $0.00 |
| Total cost | $159,273.60 | $796,363.97 |
| Balance remainingWhat you renew | $435,948.86 | $0.00 |
- Compounding
- Semi-annual
- Frequency
- every month
- First payment
- October 2026
- Rules as of
- September 16, 2026
Every payment
Grouped by year. Open any year to see its payments, or switch to the full list. The free CSV has every row, whatever is on screen.
| Year | Date | Payment | Principal | Interest | Prepayment | Total interest to date | Balance |
|---|---|---|---|---|---|---|---|
| September 1, 2027 | 12 | $11,794 | $20,060 | $0 | $20,060 | $488,206 | |
| September 1, 2028 | 12 | $12,282 | $19,573 | $0 | $39,633 | $475,924 | |
| September 1, 2029 | 12 | $12,789 | $19,065 | $0 | $58,699 | $463,134 | |
| September 1, 2030 | 12 | $13,318 | $18,537 | $0 | $77,236 | $449,817 | |
| September 1, 2031 | 12 | $13,868 | $17,987 | $0 | $95,222 | $435,949 | |
| September 1, 2032 | 12 | $14,441 | $17,414 | $0 | $112,636 | $421,508 | |
| September 1, 2033 | 12 | $15,038 | $16,817 | $0 | $129,453 | $406,470 | |
| September 1, 2034 | 12 | $15,659 | $16,196 | $0 | $145,649 | $390,811 | |
| September 1, 2035 | 12 | $16,306 | $15,549 | $0 | $161,198 | $374,505 | |
| September 1, 2036 | 12 | $16,980 | $14,875 | $0 | $176,073 | $357,526 | |
| September 1, 2037 | 12 | $17,681 | $14,173 | $0 | $190,246 | $339,845 | |
| September 1, 2038 | 12 | $18,412 | $13,443 | $0 | $203,689 | $321,433 |
Keep a summary of these results. For every payment row, use the CSV export above.
No email address needed. The PDF records the displayed estimate and key inputs.
From the first payment to the last, with the end of your term marked.
- Your balance
| Year | Your balance |
|---|---|
| 0 | $500,000 |
| 1 | $488,206 |
| 2 | $475,924 |
| 3 | $463,134 |
| 4 | $449,817 |
| 5 | $435,949 |
| 6 | $421,508 |
| 7 | $406,470 |
| 8 | $390,811 |
| 9 | $374,505 |
| 10 | $357,526 |
| 11 | $339,845 |
| 12 | $321,433 |
| 13 | $302,260 |
| 14 | $282,296 |
| 15 | $261,506 |
| 16 | $239,857 |
| 17 | $217,314 |
| 18 | $193,840 |
| 19 | $169,395 |
| 20 | $143,941 |
| 21 | $117,435 |
| 22 | $89,833 |
| 23 | $61,091 |
| 24 | $31,162 |
| 25 | $0 |
Each year of the schedule, split into principal (what pays down the debt) and interest (what it costs to carry). Where the columns swap is the crossover shown above.
- Principal (paying the mortgage down)
- Interest (the cost of borrowing)
| Year | Principal | Interest |
|---|---|---|
| 1 | $11,794 | $20,060 |
| 2 | $12,282 | $19,573 |
| 3 | $12,789 | $19,065 |
| 4 | $13,318 | $18,537 |
| 5 | $13,868 | $17,987 |
| 6 | $14,441 | $17,414 |
| 7 | $15,038 | $16,817 |
| 8 | $15,659 | $16,196 |
| 9 | $16,306 | $15,549 |
| 10 | $16,980 | $14,875 |
| 11 | $17,681 | $14,173 |
| 12 | $18,412 | $13,443 |
| 13 | $19,173 | $12,682 |
| 14 | $19,965 | $11,890 |
| 15 | $20,790 | $11,065 |
| 16 | $21,649 | $10,206 |
| 17 | $22,543 | $9,312 |
| 18 | $23,475 | $8,380 |
| 19 | $24,444 | $7,410 |
| 20 | $25,454 | $6,400 |
| 21 | $26,506 | $5,349 |
| 22 | $27,601 | $4,253 |
| 23 | $28,742 | $3,113 |
| 24 | $29,929 | $1,925 |
| 25 | $31,162 | $689 |
Compare lenders for this mortgage
Every figure above changes with the rate. We compare 30+ lenders on one application and hold the rate for 120 days. No credit check to start.
Get my ratePayment /mo
$2,654.56
How this is calculated
Every figure on this page comes from one tested calculation engine. Here’s what it does.
How each row is built
The schedule is built one row at a time. For each payment, interest is the outstanding balance times the periodic rate, rounded to the nearest cent. Principal is what’s left of the payment after interest, and the balance goes down by that amount. The next row starts from the new balance. Because interest is rounded before principal is worked out, the last payment ends up different from the others. A lender’s rounding rules may produce a different final payment.
The payment itself rounds up to the next cent, because that’s what lenders do. Rounding down would make the final payment negative.
Semi-annual compounding
Section 6 of the federal Interest Act requires interest on a Canadian fixed-rate mortgage to be calculated semi-annually, not in advance. So the periodic rate is (1 + j/2)^(2/f) − 1, not j/f. An American amortization table divides the annual rate by 12, which overstates the interest on every row.
Dates
Dates are counted on the calendar, not by dividing a year into equal parts. Bi-weekly means every 14 days and weekly means every 7. The schedule handles 2028’s leap day, and the number of payments in each calendar year varies the way it will on your mortgage. Semi-monthly falls on the 1st and the 15th. Monthly falls on the same date each month.
Your lender sets the first payment date from the interest adjustment date on your commitment, which is usually the first of the month after you take possession. Change it in the advanced panel if you know it.
The crossover
The crossover is the first payment where the principal portion is bigger than the interest portion. On a 25-year mortgage at current rates, it comes closer to year 10 than to year 5. It’s the first row in the table where the principal column overtakes the interest column.
Prepayments
A prepayment applies after the regular payment in the same period, goes entirely to principal, and never takes the balance below zero. If your prepayments pay off the mortgage early, the schedule ends on the payment that clears it. Most Canadian mortgages allow 10–20% of the original principal a year without a charge, but the limit is set by your contract. The prepayment calculator shows how much room you have.
What this calculator assumes
It assumes every payment is made on schedule and that the rate stays the same for the whole amortization. In practice, your rate is fixed for the term, not the whole loan. The term column shows what you’ll owe when that contract ends.
Common questions
What is an amortization schedule?
It’s the payment-by-payment plan for paying off a mortgage. Each row shows the payment, how much of it is interest, how much comes off the principal, the total interest paid to date, and the balance remaining.
Early payments are mostly interest, because interest is charged on the outstanding balance, and the balance is largest at the start. As it goes down, the interest portion shrinks and the principal portion grows.
Why is the last payment smaller than all the others?
The payment rounds up to the next cent, and the interest in each period rounds to the nearest cent. Together, those leave a tiny overpayment in every payment. It adds up over the amortization, so the final payment only has to clear what’s left.
Lenders do it the same way. Rounding the payment down instead would make the final payment negative.
When does principal start beating interest on my mortgage?
On a 25-year Canadian mortgage at current rates, it’s usually somewhere between year 8 and year 12. The higher the rate, the later it comes. This point is called the crossover: the first payment where the principal portion is bigger than the interest portion.
The calculator shows the payment number and date for your own figures.
Do the bi-weekly dates account for leap years?
Yes. Bi-weekly payments fall every 14 days and weekly payments every 7, counted on the calendar. The calculator doesn’t divide the year into 26 or 52 equal parts.
So the schedule handles 29 February, and the number of payments in each calendar year varies the way it will on your mortgage.
Can I download the full schedule?
Yes, and the CSV is free. It has every row, however many are shown on screen. A 30-year weekly mortgage is 1,560 payments, and all of them are in the file.
You can download a PDF summary of the displayed scenario without an email address. For every payment row, use the CSV. The PDF is a summary, not a full schedule.
Does my mortgage rate last the whole amortization?
No. Your rate is fixed for your term, usually 1 to 5 years, not for the 25-year amortization. This is the biggest assumption on this page.
At the end of the term, you still owe the balance shown in the term column, and you renew it at whatever rates are available then. Everything past the term marker shows what happens if nothing changes. Use it for comparison, not as a forecast.
What to work out next
- Mortgage paymentStart from a purchase price and a down payment instead of a mortgage amount.
- PrepaymentAll 6 payment frequencies side by side, with lump sums added, in years and dollars saved.
- 25 vs 30-year amortizationWhat a 30-year amortization saves per month, and what it costs across the loan.
- Payment shockWhat the balance at the end of your term becomes at today's renewal rates.
- Renewal comparisonThe balance in the term column is what you renew. See what shopping around could save.
- Refinance break-evenThe break-even on breaking your mortgage mid-term, including the penalty.
This calculator provides estimates only. Results are based on the information you enter and on assumptions that may not reflect your actual qualification, rate or costs. These include semi-annual, not-in-advance compounding for fixed rates, as required under section 6 of the federal Interest Act, and the mortgage default insurance premium tiers published by CMHC, Sagen and Canada Guaranty. It is not mortgage advice, a quote, a rate hold, a pre-approval or an offer of credit, and RateLens does not guarantee its accuracy or completeness. Your actual rate, payment, default insurance premium and closing costs will depend on your credit profile, income, the property, the lender’s current rates and policies, and other factors confirmed during a full application.
If you have a variable-rate mortgage with a fixed payment, rising rates mean more of each payment goes to interest and less to principal. Your trigger rate is the rate at which the entire payment goes to interest. Past that point your balance can increase. This calculator does not model trigger-rate effects. Speak to Daniel De Sousa, Mortgage Associate, about your specific mortgage.
Rules snapshot: September 16, 2026. Rates shown are calculation assumptions, not confirmed offers. Speak with Daniel De Sousa, Mortgage Associate, for a personalized quote. Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a licensed mortgage brokerage licensed by RECA.
Daniel De Sousa, Mortgage Associate, is licensed by the Real Estate Council of Alberta and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.
Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage is a mortgage brokerage licensed by the Real Estate Council of Alberta (RECA). Verify our licence on RECA ProCheck(opens in a new tab)
RateLens is a trade name used by Daniel De Sousa, Mortgage Associate, licensed in Alberta by the Real Estate Council of Alberta and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.
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