For homeowners

    Mortgage Amortization Calculator

    See your payment, total interest, and a full year-by-year amortization schedule showing how each payment splits between principal and interest, on Canadian semi-annual compounding.

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    Enter a mortgage amount to see the amortization.

    Estimate only. Uses Canadian semi-annual compounding for fixed rates and assumes a constant rate over the full amortization; in reality your rate resets at each renewal. Excludes property tax, insurance, and fees. Confirm with your lender.

    How amortization works

    Every mortgage payment covers the interest accrued since the last payment, and the rest reduces the principal. Because the balance is largest at the start, your early payments are mostly interest and your later payments are mostly principal. The schedule below makes that shift visible year by year, which is the clearest way to see why the first few years build so little equity.

    Amortization versus term

    The amortization is the full payoff horizon — 25 years is typical. Your term is the current contract, usually five years, after which you renew at whatever rate prevails then. This calculator holds the rate constant for the whole amortization as a planning baseline; your real schedule resets at each renewal.

    Track the home behind the mortgage

    As the years pass, the home accumulates its own history: renovations, appliances, warranties, repairs. A durable record of all of it is the cheapest insurance a homeowner has, and it is what Habyn property records are built to keep, free for homeowners on the Home plan.

    Frequently asked questions

    What is a mortgage amortization schedule?

    It is the year-by-year breakdown of how your payments split between principal and interest, and how the balance falls over time. Early on, most of each payment is interest; later, most is principal.

    Does this use Canadian compounding?

    Yes. Canadian fixed-rate mortgages compound semi-annually, not in advance, which differs from monthly compounding used elsewhere. The schedule converts your rate on that basis, so the figures reflect how Canadian mortgages actually amortize.

    What is the difference between amortization and term?

    Amortization is the total time to pay off the mortgage, commonly 25 years. The term is the length of your current contract, usually 5 years, after which you renew at a new rate. This schedule assumes a constant rate for the full amortization, which is a simplification.

    How do I pay off my mortgage faster?

    Increase your payment, switch to an accelerated biweekly or weekly schedule, or make lump-sum prepayments. Each puts more toward principal, which shortens the amortization and cuts total interest. The schedule shows how much interest you would save.

    See all free Habyn tools.