Mississauga 4 You - Mortgage Calculator Page


	The Bank of Canada lowered its overnight interest rate by 0.50% March 4th, 2008

Mortgage Calculator Page

This calculator allows you to specify either the amount of each payment, or the amortization in years. Payments can be on a weekly, biweekly, semi-monthly, or a monthly basis. For variable rate mortages, simple interest (no compounding) is usually used, so this option should be selected. The calculator can generate a table with details of each payment, over terms ranging from 1 year to 10 years, or for the entire amortization interval.
Enter Mortgage Information:
Principal amount of the Mortgage (any currency):
Annual rate of interest (%):
Specify EITHER the payment amount OR the amortization interval:
Payment amount:
Repayment interval in years (amortization interval):
Payment frequency:
Compounding:
Start Date for mortgage:	- -
Term:

Payment Information:
Your mortgage starts on and is amortized over (ie would be fully paid off in) years. Your first payment of will be on . During the term of , you will make payments, with the final payment of on . At the end of the term, the balance remaining will be . You will have paid a total of of which , or %, will be interest. This represents % of the principal amount.