Mortgage Scenario Comparison Calculator

Compare up to 3 mortgage offers side-by-side. Supports Canadian semi-annual compounding convention, accelerated bi-weekly payments, and prepayment savings.

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How to use Mortgage Scenario Comparison Calculator

  1. 1

    Select your calculation convention: Canadian (Semi-Annual Compounding) or US / International (Monthly Compounding).

  2. 2

    Enter the total mortgage principal amount and total amortization period (e.g. 25 or 30 years).

  3. 3

    Configure up to 3 comparison scenarios (e.g. 5-Year Fixed, 3-Year Fixed, 5-Year Variable).

  4. 4

    Choose your payment frequency (Monthly, Semi-Monthly, Regular Bi-Weekly, or Accelerated Bi-Weekly).

  5. 5

    Add optional annual lump-sum prepayments to simulate paying down your mortgage faster.

  6. 6

    Review the side-by-side comparison table showing payment amounts, term-end renewal balances, and total lifetime interest.

Why use this tool?

Official Canadian compounding math

By law in Canada, fixed mortgages compound semi-annually, not in advance. This calculator uses the exact Bank of Canada formula: (1 + r/2)^(1/6) - 1.

Accelerated bi-weekly savings analysis

Shows exactly how making 26 half-monthly payments per year shaves years off your amortization and saves thousands in interest.

Renewal balance forecast

Calculates the remaining balance at the end of your 3-year or 5-year term so you know what you will owe at renewal.

Frequently asked questions

How does Canadian mortgage compounding differ from the US?

In the United States, mortgage interest compounds monthly (APR / 12). In Canada, federal legislation (Interest Act) requires fixed-rate residential mortgages to compound semi-annually, not in advance. This results in a slightly lower effective monthly rate for Canadian borrowers at the same nominal APR.

What is the difference between bi-weekly and accelerated bi-weekly mortgage payments?

Regular bi-weekly multiplies your monthly payment by 12 and divides by 26. Accelerated bi-weekly takes your regular monthly payment and divides it directly by 2. Because there are 26 bi-weekly periods in a year, you effectively make 13 full monthly payments every year instead of 12, cutting 3 to 4 years off a typical 25-year mortgage.

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