Your home is an investment. If you have a mortgage, then you probably want to repay your mortgage as soon as possible, minimizing your interest cost, without sacrificing your quality of life. Use this mortgage comparison calculator to compare two different mortgages and choose the best mortgage that will suite your needs. Full use of double up payments, lump sum payments, unique payments, custom payments, skips, and percentage increases are available.
Input values in the white boxes.
When available, make selection from drop down list.
You may alter the regular payment provided by inputting a Custom Payment in the box provided.
You may enter a unique payment in the Mortgage Table tab.
Go to the Report tab to view the results of the calculator.
Fixed Rate in Canada are compounded semi-annually, all other rates types in USA and Canada are compounded at the payment frequency.
All calculations are made on the assumption that the year is divided equally by the amount of payments made per year.
Double up payment(s) are applied to the first payment(s) of the year.
Skips are applied on the final payment(s) of the year.
Lump Sum payments and Unique payments are applied to the final balance of a year.
All results are calculated based on the input variables provided by the user, and assumptions that are believed to be reasonable. Finanseva.com does not make any express or implied warranties with respect to the information or results in connection to this, or any other calculator. Finanseva.com will not be held liable for any losses or damages resulting from any errors or omissions in any information or results, or any action or decision made by users in reliance on any information or results. Please consult Instructions & Assumptions for further details.