Mortgage Amortization Calculator
Year-by-year amortization schedule for Canadian mortgages — 25, 30 or 35-year amortizations, fixed vs variable compounding, and interest-only payments for private/HELOC scenarios.
Mortgage details
Canadian fixed-rate mortgages use semi-annual compounding (Interest Act, s.6). Variable / HELOC use monthly compounding. The math here matches what a Canadian lender will quote.
Balance over time
How your outstanding principal drops each year.
Year-by-year amortization schedule
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $10,401 | $24,461 | $489,599 |
| 2 | $10,926 | $23,936 | $478,673 |
| 3 | $11,479 | $23,384 | $467,194 |
| 4 | $12,058 | $22,804 | $455,136 |
| 5 | $12,668 | $22,195 | $442,468 |
| 6 | $13,308 | $21,554 | $429,160 |
| 7 | $13,980 | $20,882 | $415,180 |
| 8 | $14,686 | $20,176 | $400,494 |
| 9 | $15,428 | $19,434 | $385,066 |
| 10 | $16,208 | $18,654 | $368,858 |
Schedule assumes the rate stays constant for the entire amortization. In reality you'll renew every 1–5 years (your term) at whatever rate is available then. Use this as a planning tool, not a guarantee.
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How to read your schedule: early years are interest-heavy because interest is charged on a large outstanding balance. As principal shrinks, each payment carries more principal and less interest — that's the curve you see in the chart.
Also see: Pay off faster → · Affordability + stress test → · Blended rate → · CMHC insurance →