Mortgage Comparison Calculator

Mortgage Option 1
Mortgage Amount
Mortgage Term & Type
Mortgage Term: Length of the mortgage term (ex. 1 year). At end of the term, the mortgage needs to be renewed.

Mortgage Type: Fixed - Interest rate is fixed for the mortgage term. Variable Closed - Interest rate is variable and may fluctuate during the mortgage term.
Interest Rate
Interest rate is assumed to remain constant throughout the mortgage term and amortization period.
Amortization Period
The length of time to pay off the mortgage in full.
Payment Frequency
Monthly: One loan payment each month.
Semi-Monthly: Two loan payments each month.
Bi-Weekly: One loan payment every two weeks.
Weekly: One loan payment every week.
Add additional payments
Payment Amount
Enter the amount you will pay on your mortgage, at the frequency indicated below, in addition to your regularly scheduled mortgage payments.
Payment Frequency
Monthly: One additional mortgage payment each month.
Annually: One additional mortgage payment each year.
Per Payment: One additional mortgage payment with each regularly scheduled mortgage payment.
Mortgage Option 2
Mortgage Amount
Mortgage Term & Type
Mortgage Term: Length of the mortgage term (ex. 1 year). At end of the term, the mortgage needs to be renewed.

Mortgage Type: Fixed - Interest rate is fixed for the mortgage term. Variable Closed - Interest rate is variable and may fluctuate during the mortgage term.
Interest Rate
Interest rate is assumed to remain constant throughout the mortgage term and amortization period.
Amortization Period
The length of time to pay off the mortgage in full.
Payment Frequency
Monthly: One loan payment each month.
Semi-Monthly: Two loan payments each month.
Bi-Weekly: One loan payment every two weeks.
Weekly: One loan payment every week.
Add additional payments
Payment Amount
Enter the amount you will pay on your mortgage, at the frequency indicated below, in addition to your regularly scheduled mortgage payments.
Payment Frequency
Monthly: One additional mortgage payment each month.
Annually: One additional mortgage payment each year.
Per Payment: One additional mortgage payment with each regularly scheduled mortgage payment.
Your Monthly Payment
$108.88
Balance Start of Term
$300,000.00
Balance End of Term
$263,606.72
Interest Rate: 1.00%
Mortgage Term: 5 Years
Total payments
over mortgage term
Tooltip text
$100,126.20
Interest paid
over mortgage term
Tooltip text
$100,126.20
Principal paid
over mortgage term
Tooltip text
$100,126.20
Your Monthly Payment
$108.88
Balance Start of Term
$300,000.00
Balance End of Term
$263,606.72
Interest Rate: 1.00%
Mortgage Term: 5 Years
Total payments
over mortgage term
Tooltip text
$100,126.20
Interest paid
over mortgage term
Tooltip text
$100,126.20
Principal paid
over mortgage term
Tooltip text
$100,126.20
Mortgage Option 1
Your Monthly Payment
$108.88
Balance Start of Term
$300,000.00
Balance End of Term
$263,606.72
Interest Rate: 1.00%
Mortgage Term: 5 Years
Total payments over mortgage term
$100,126.20
Interest paid over mortgage term
$100,126.20
Principal paid over mortgage term
$100,126.20
Mortgage Option 2
Your Monthly Payment
$108.88
Balance Start of Term
$300,000.00
Balance End of Term
$263,606.72
Interest Rate: 1.00%
Mortgage Term: 5 Years
Total payments over mortgage term
$100,126.20
Interest paid over mortgage term
$100,126.20
Principal paid over mortgage term
$100,126.20
Mortgage Option 1
Year
Principal
+
Interest
=
Payment
Outstanding Balance
Start
$5,500.00
1
$447.87
$32.33
$102.46
$4,160.95
Mortgage Option 2
Year
Principal
+
Interest
=
Payment
Outstanding Balance
Start
$5,500.00
1
$447.87
$32.33
$102.46
$4,160.95

COMPARISON SUMMARY

(Mortgage option 1 — Option 2)

Difference in Total Payments
$100,126.20
Difference in Interest Paid
$100,126.20

Total Interest Over Loan Term

$10000

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