How is it calculated?
Prepayments go straight to principal. We simulate your schedule with the lump sums and payment increase you enter.
What should I do with the result?
Use it to set a budget or a target rate, then let lenders bid on your actual mortgage. Bids include rate, penalty method, prepayment and fees, so you can compare the full cost.
MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
Related
Mortgage payment calculatorMortgage affordability calculatorLand transfer tax calculatorOntario land transfer tax calculatorToronto land transfer tax calculatorCMHC insurance calculator
Challenge your mortgage rate
Connect with verified lenders and brokers bidding on your mortgage. Free for homeowners, three short steps.