Disclaimer
This calculator is provided for informational and educational purposes only. The results it produces are estimates based solely on the data and assumptions you enter (rate, term, frequency, amounts, etc.) and do not take into account your complete financial, tax, or personal situation.
These results do not constitute professional advice, a recommendation, or a guarantee from ESSORS Inc., and do not replace consultation with a qualified professional (CPA, financial planner, mortgage advisor, etc.). Use of this tool does not create any professional, contractual, or mandate relationship between you and ESSORS Inc.
ESSORS Inc. does not guarantee the accuracy, completeness, or currency of the calculations performed and disclaims all liability for decisions made or for any losses, damages, or harm, direct or indirect, that may result from the use of this calculator or reliance on its results, to the extent permitted by applicable law in Quebec.
For an analysis tailored to your situation, contact our team.
Canadian Mortgage Rate — Important Note
In Canada, the Interest Act requires residential mortgage lenders to quote rates using semi-annual compounding (C/Y = 2). A quoted rate of 5% is therefore not the same as 5% compounded monthly.
This calculator automatically converts the quoted nominal rate to the effective rate per period:
- Effective monthly rate = (1 + Rate / 2)^(2/12) − 1
- For a $400,000 mortgage at 5% over 25 years (monthly), set C/Y = 2 and P/Y = 12.
Time Value of Money
Payment dates & fiscal year (optional)
If you provide a start date, the table will display payment dates. If you also enter a fiscal year-end date, payments will be grouped by fiscal year with annual sub-totals.
Amortization Table
| # | Payment | Interest | Principal | Balance |
|---|