Mortgage amortization schedule calculator
See a year-by-year breakdown of how much of your mortgage payments goes to interest and how much pays down the balance, with an option to add extra payments.
Mortgage rules last reviewed: September 29, 2026
Optional. Check your lender's prepayment rules before relying on this.
- Total interest over the life of the mortgage
- $435,646
- Paid off in
- 25 years
- Balance after 5 years (a typical term)
- $530,122
For illustration only. Not a rate quote, approval or pre-qualification.
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $41,426 | $28,767 | $12,659 | $587,341 |
| 2 | $41,426 | $28,140 | $13,285 | $574,056 |
| 3 | $41,426 | $27,483 | $13,943 | $560,113 |
| 4 | $41,426 | $26,793 | $14,633 | $545,480 |
| 5 | $41,426 | $26,068 | $15,357 | $530,122 |
| 6 | $41,426 | $25,308 | $16,118 | $514,005 |
| 7 | $41,426 | $24,511 | $16,915 | $497,090 |
| 8 | $41,426 | $23,673 | $17,753 | $479,337 |
| 9 | $41,426 | $22,795 | $18,631 | $460,706 |
| 10 | $41,426 | $21,872 | $19,554 | $441,152 |
| 11 | $41,426 | $20,904 | $20,521 | $420,631 |
| 12 | $41,426 | $19,889 | $21,537 | $399,094 |
| 13 | $41,426 | $18,823 | $22,603 | $376,490 |
| 14 | $41,426 | $17,704 | $23,722 | $352,768 |
| 15 | $41,426 | $16,530 | $24,896 | $327,872 |
| 16 | $41,426 | $15,297 | $26,128 | $301,744 |
| 17 | $41,426 | $14,004 | $27,422 | $274,322 |
| 18 | $41,426 | $12,647 | $28,779 | $245,543 |
| 19 | $41,426 | $11,222 | $30,204 | $215,339 |
| 20 | $41,426 | $9,727 | $31,699 | $183,640 |
| 21 | $41,426 | $8,158 | $33,268 | $150,373 |
| 22 | $41,426 | $6,512 | $34,914 | $115,458 |
| 23 | $41,426 | $4,783 | $36,643 | $78,816 |
| 24 | $41,426 | $2,970 | $38,456 | $40,360 |
| 25 | $41,426 | $1,066 | $40,360 | $0 |
How this is calculated
- Canadian fixed-rate mortgages compound semi-annually; this schedule does the same.
- Your rate is usually fixed for a term (often 5 years) and then renewed at the rate on offer at the time, so later years are an illustration only.
Calculator disclaimer
Calculators are provided for general informational and illustrative purposes only.
Results are estimates and may not reflect lender-specific qualification requirements, mortgage-insurance premiums, taxes, fees, available products, payment calculations or other transaction costs.
Calculator results do not constitute:
- Mortgage approval
- Pre-approval
- A rate commitment
- A lending commitment
- Financial advice
- Tax advice
- Or legal advice
Mortgage rules, rates and lender requirements can change.
For advice about your specific circumstances, speak with the appropriate licensed professional.
But how does this apply to your business income?
This calculator estimates the numbers you entered. How a lender treats your salary, dividends or business income is a separate question, and it's the one the Mortgage Readiness Review looks at first.