Calculating Your Monthly Mortgage Payments
To calculate your monthly mortgage payments, use
the amortization table at the bottom of this page. Please note that this information is applicable to Canadian mortgages only, where interest is calculated semi-annually.
Amortization Table
The following table displays the monthly payment that you will make per $1,000 of principal, for the listed interest rate over a 15, 20 or 25-year period. To calculate your monthly payment, divide your mortgage balance by 1,000 and then multiply by the appropriate number in the table below.
Example: If you have a mortgage of $200,000 over 25 years at 7%, your monthly payment would be $1,400 ($200,000 ÷ 1,000 X 7.00).
| Rate (%) | Amortization Period (Years) |
| 15 | 20 | 25 |
| 4.00 | 7.38 | 6.04 | 5.26 |
| 4.25 | 7.50 | 6.17 | 5.39 |
| 4.50 | 7.62 | 6.30 | 5.53 |
| 4.75 | 7.75 | 6.43 | 5.67 |
| 5.00 | 7.88 | 6.57 | 5.81 |
| 5.25 | 8.00 | 6.70 | 5.95 |
| 5.50 | 8.13 | 6.84 | 6.10 |
| 5.75 | 8.26 | 6.98 | 6.25 |
| 6.00 | 8.40 | 7.12 | 6.40 |
| 6.25 | 8.53 | 7.26 | 6.55 |
| 6.50 | 8.66 | 7.41 | 6.70 |
| 6.75 | 8.80 | 7.55 | 6.85 |
| 7.00 | 8.93 | 7.69 | 7.00 |
| 7.25 | 9.07 | 7.84 | 7.16 |
| 7.50 | 9.21 | 7.99 | 7.32 |
| 7.75 | 9.34 | 8.13 | 7.47 |
| 8.00 | 9.49 | 8.28 | 7.64 |
| 8.25 | 9.63 | 8.44 | 7.80 |
| 8.50 | 9.77 | 8.59 | 7.96 |
| 8.75 | 9.91 | 8.74 | 8.12 |
| 9.00 | 10.05 | 8.90 | 8.28 |
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This information has been freely provided as a convenience to assist you in determining your monthly mortgage payments. Century 21 United Realty Inc. Brokerage* makes no guarantees as to the accuracy of this information. Please consult with your lending institution to confirm your monthly payment.
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