Mortgage Calculator with Lump Sums

This mortgage calculator gives a detailed breakdown of up to two mortgages and calculates payment schedules over your full amortization. You may also enter extra lump sum and pre-payment amounts.

We also generate graphs, summaries of balances, payments, and interest over the life of your mortgage. We highly recommend comparing two mortgages side-by-side.


Mortgage Payment Calculator

Purchase price $ Use basic mortgage amount
Downpayment $
Amount to mortgage $  Enter down payment or calculate CMHC fees
Mortgage term and rate    Click to enter a custom rate
Mortgage term    Select rates from dropdown
Interest rate   %
Amortization   years
Payment schedule  
Pre-payment amount  
Add CMHC fees  
Full amortization table  
Turn off annotations  

Side-by-side Mortgage Comparison

   Mortgage #1  Mortgage #2
Purchase price $ $
Down payment or equity $ $
Mortgage term    
Interest rate   %   %
Amortization   years   years
Payment Schedule    
Pre-payment amount    
Add CMHC fees  
Full Amortization Table   (Warning: May be slow on old computers)
Turn off annotations  
(Click me to show or hide this section) Mortgage Summary
Mortgage Calculator Output

Mortgage Summary

  • You would make approximately 300 payments averaging about $863.04 over the course of 25 years.
  • If you opt for biweekly accelerated payments, you could save thousands of dollars over the course of your mortgage. To try it, select Biweekly accelerated as your payment schedule (above).
  • Lump sum payments can have a dramatic effect on the amount of interest you pay and on the length of your amortization. To try experimenting with lump sum payments, select an amount in the yearly payment summary (above, under Yearly Mortgage Breakdown & Lump Sum Payments).

Full Summary of Mortgage Details

Total loan amount $150,000
Mortgage amortization period 25 years
Payment schedule Monthly
Interest rate 4.89%
Payments $863.04/month
Term Summary
Term length 5 years
Total regular payments $51,782.40
Total lump sum payments $0.00
Interest paid $34,312.90
Principal paid $17,469.50
Balance at end of term $132,530.50
Mortgage Amortization Summary
Amortization period 25 years
Actual amortization length 25 years
Total regular payments $258,911.04
Total lump sum payments $0.00
Interest paid $108,911.04
Principal paid $150,000.00

Monthly Payments Compared To Other Payment Schedules

Schedule Payment Term
Interest Cost
Interest Cost
Savings Over
  Monthly Schedule
Monthly $863.04 $34,312.90 $108,911.04 $0.00
Semi-monthly $431.09 $34,260.71 $108,648.01 $263.03
Biweekly accelerated $431.52 $33,688.19 $91,496.02 $17,415.02
Weekly accelerated $215.76 $33,658.73 $91,298.73 $17,612.31
(Click me to show or hide this section) Summary Graphs

Mortgage Graphs

Amortization of Principal By Year

Most graphical representations of mortgage principal over time are similar in shape to the graph below.

In a nutshell, while the principal amount is gradually reduced, the amount of interest accrued each year is also decreased. Because of this, as you pay into your mortgage, your dollars go further towards principal in the later years of the amortization.

A consequence of this effect is that the principal amount decreases faster the further you are into a mortgage, and the slope of the graph becomes steeper.

Yearly Interest Paid

The following graph demonstrates how interest is paid on a mortgage over time. Because the principal amount is decreasing over time, so too is the interest paid per year.

Payment Allocation

In many mortgages, the payment amounts are fixed, initially calculated so that given a set amount of time, at a specific interest rate, the loan's principal amount can be paid off on schedule.

A payment allocation graph shows how much of each payment goes directly to interest, and how much goes to reducing the principal. As can be seen on a payment allocation graph, the portion of a payment allocated to accruing interest decreases, and the amount to principal increases over time.

(Click me to show or hide this section) Yearly Mortgage Breakdown & Lump Sum Payments

Yearly Breakdown of Payments & Lump Sums

The following is a yearly summary of your mortgage payments. If you would like to make a lump sum payment, please select the amount next to the respective year.

Note: Most closed mortgage products allow a once-per-year lump sum payment of up to 20% of the remaining principal amount or balance.

Example: if your balance at the end of the year is $100,000, the maximum lump sum payment for that year would be $20,000.

Year Payments Total
Principal Paid
Interest Paid
Lump Sum
1 12 x $863.04
$10,356.48 $3,164.71 $7,191.77 $146,835.29
2 12 x $863.04
$20,712.96 $6,486.07 $14,226.89 $143,513.93
3 12 x $863.04
$31,069.44 $9,971.83 $21,097.61 $140,028.17
4 12 x $863.04
$41,425.92 $13,630.13 $27,795.79 $136,369.87
5 12 x $863.04
$51,782.40 $17,469.50 $34,312.90 $132,530.50
Mortgage Term Ends.
6 12 x $863.04
$62,138.88 $21,498.91 $40,639.97 $128,501.09
7 12 x $863.04
$72,495.36 $25,727.78 $46,767.58 $124,272.22
8 12 x $863.04
$82,851.84 $30,165.96 $52,685.88 $119,834.04
9 12 x $863.04
$93,208.32 $34,823.82 $58,384.50 $115,176.18
10 12 x $863.04
$103,564.80 $39,712.23 $63,852.57 $110,287.77
11 12 x $863.04
$113,921.28 $44,842.61 $69,078.67 $105,157.39
12 12 x $863.04
$124,277.76 $50,226.94 $74,050.82 $99,773.06
13 12 x $863.04
$134,634.24 $55,877.77 $78,756.47 $94,122.23
14 12 x $863.04
$144,990.72 $61,808.31 $83,182.41 $88,191.69
15 12 x $863.04
$155,347.20 $68,032.40 $87,314.80 $81,967.60
16 12 x $863.04
$165,703.68 $74,564.57 $91,139.11 $75,435.43
17 12 x $863.04
$176,060.16 $81,420.06 $94,640.10 $68,579.94
18 12 x $863.04
$186,416.64 $88,614.89 $97,801.75 $61,385.11
19 12 x $863.04
$196,773.12 $96,165.84 $100,607.28 $53,834.16
20 12 x $863.04
$207,129.60 $104,090.55 $103,039.05 $45,909.45
21 12 x $863.04
$217,486.08 $112,407.52 $105,078.56 $37,592.48
22 12 x $863.04
$227,842.56 $121,136.15 $106,706.41 $28,863.85
23 12 x $863.04
$238,199.04 $130,296.84 $107,902.20 $19,703.16
24 12 x $863.04
$248,555.52 $139,910.96 $108,644.56 $10,089.04
25 11 x $863.04
1 x $862.08
$258,911.04 $150,000.00 $108,911.04 $0.00

Find More

Current Mortgage Rates
Compare the best mortgage rates currently available from all major lenders in Canada.

How Much Can You Afford?
Use our mortgage affordability calculator to see the maximium house you can afford.

Mortgage Refinance
Check out our mortgage calculator for refinancing and get a rundown on savings, penalties and benefits.

About This Mortgage Calculator
We built this mortgage calculator from the ground up to help our clients understand how the smallest changes to their mortgage rates have huge effects over a span of years. However, despite the important role rates play, sound advice is the most important thing to have. For more information, please check out our mortgage products and services.
Mortgage Calculator's Features
Our calculator can compare multiple mortgage rates and calculations side-by-side. Doing a side-by-side analysis, you can see how simple changes like making accelerated payments, adding lump sum payments, making pre-payments, or getting the lowest rate can do to your interest over time. Armed with this information, we hope you will be able to make an informed decision when the time is right to apply for a mortgage.
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