Dedicated Insurance Advisors
Work directly with licensed Ontario insurance professionals who understand your industry and local market
Mortgage & Amortization
Mortgage Calculator with Amortization Schedule
Estimate your payment, total interest, and term-end balance for Ontario and Canada. Uses Canadian semi-annual compounding. Optional: lender fees, mortgage insurance, prepayments, and DSCR.
Purchase & Loan
Purchase price, down payment, interest rate, amortization period and term length.
Total agreed price of the property before
financing. The loan is based on purchase price minus your down
payment.
$
Percentage of the purchase price you pay
upfront. Loan amount = Purchase price − Down payment. Typically 5%–20%;
under 20% usually requires mortgage insurance.
%
The quoted annual interest rate (e.g.
5.25%). Converted to a periodic rate using Canadian semi-annual
compounding convention.
%
Total period over which the loan is fully
repaid (e.g. 25 years). Longer amortization means lower payments but
more interest over time.
Length of your current rate or contract. At
term end you renew at a new rate or pay the remaining (term-end)
balance.
How often you make payments. Accelerated
bi-weekly or weekly uses the same monthly payment split into smaller,
more frequent amounts, so you pay off the loan faster.
Fees & Prepayments
Lender fees, CMHC-style insurance, extra principal and optional annual NOI for DSCR.
One-time fees from the lender (e.g. admin,
appraisal, legal). You can pay them upfront or roll them into the loan
amount.
$
Additional amount applied to principal each
payment. Reduces the balance faster and total interest; check your
lender for prepayment rules.
$
Net Operating Income from the property. Used
to compute DSCR = Annual NOI ÷ Annual Debt Service. Lenders often
require DSCR ≥ 1.20–1.35 for income properties.
$
Your Results
Payment per period, total interest over term and full amortization, and balance at term end.
Payment (per period)
—
Total Interest (Term)
—
Term-End Balance
—
Canadian convention: Rate is converted from nominal annual (semi-annual compounding) to periodic. This calculator is for information only; consult your lender for exact figures.
- Accelerated options use half (bi-weekly) or quarter (weekly) of the monthly payment.
- Term-end balance is the amount due at renewal if the loan is not renewed.
Amortization Schedule
Payment-by-payment breakdown: interest, principal and remaining balance (first 120 payments shown).
| # | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| Enter values and see your schedule below. | ||||
Our Network
Trusted Partners
Backed by Canada's leading insurance carriers
Quick Turnaround Quotes • Compare Top Carriers
Protect Your Property with the Right Insurance
Compare quotes from top-rated Canadian carriers for home, rental, or commercial property coverage.
No Obligation
30+ Carriers
5/5 Rating
Fast Quotes
Get Answers
Frequently Asked Questions
Common questions about amortization, payments, DSCR, and property insurance.
In Canada, mortgage interest is typically quoted as a nominal annual rate compounded semi-annually. Your payment is calculated from that rate, converted to the payment frequency (monthly, bi-weekly, or accelerated), so the amount may differ from a simple monthly rate.
An amortization schedule shows each payment split into principal and interest, and the remaining balance after each payment. Over time, more of each payment goes to principal and less to interest.
Debt Service Coverage Ratio (DSCR) is net operating income divided by debt service. Lenders use it for rental and commercial properties to ensure income can cover the mortgage. A ratio above 1.0 means income exceeds the payment.
Most Canadian mortgages allow prepayment (lump sums and/or increased payments) subject to prepayment privileges and possible penalties. Check your contract for limits and any breakage costs if you pay off before term end.
Lenders require property insurance to protect the collateral. For rental or commercial properties, you may need building, loss of income, and liability coverage. Boardwalk can quote home and commercial property insurance across Canada.
Get the Right Coverage for Your Property
Boardwalk helps you secure building, liability, and income protection with tailored commercial property insurance. Across Canada
Why Boardwalk Insurance
Competitive Insurance Rates
Access to multiple A-rated carriers means better pricing and coverage options for Mississauga businesses
Quick Quote Turnaround
Get insurance quotes fast with same-day response and coverage when your business needs it most
Claims Support & Advocacy
We advocate for you throughout the entire insurance claims process — your success is our priority
