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Canadian Mortgage Calculator

This document provides a Canadian mortgage calculator for a home priced at $725,000 with a 5.1% interest rate over 25 years. The monthly mortgage payment is $4,002.52 and the total cost of the loan including interest is $1,200,756.81. It also shows an amortization schedule and graph demonstrating how the balance decreases over time as the loan is paid off, with most of the early payments going towards interest rather than principal.

Uploaded by

Yousef Mohammadrezaee
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
97 views3 pages

Canadian Mortgage Calculator

This document provides a Canadian mortgage calculator for a home priced at $725,000 with a 5.1% interest rate over 25 years. The monthly mortgage payment is $4,002.52 and the total cost of the loan including interest is $1,200,756.81. It also shows an amortization schedule and graph demonstrating how the balance decreases over time as the loan is paid off, with most of the early payments going towards interest rather than principal.

Uploaded by

Yousef Mohammadrezaee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Canadian Mortgage Calculator

Home Price 725000 Monthly Pay: $4,002.52


Down Payment 6 Monthly Total
Mortgage Payment $4,002.52 $1,200,756.81
Loan Term 25 years
Property Tax $362.50 $108,750.00
Interest Rate 5.1
Home Insurance $100.00 $30,000.00
Mortgage Insurance $250.00 $18,750.00
Include Optionals Below
Other Costs $250.00 $75,000.00
Property Taxes 0.6 Total Out-of-Pocket $4,965.02 $1,433,256.81

Home Insurance 1200 /year


House Price $725,000.00
Mortgage Insurance 3000 /year
Loan Amount $681,500.00
Condo/HOA Fee 0 /year Down Payment $43,500.00
Other Costs 3000 /year Total of 300 Mortgage Payments $1,200,756.81
Total Interest $519,256.81
Start Date Aug 2023
Mortgage Payoff Date Aug. 2048
PMI Payoff Date (75 Total Payments) Nov. 2029
Calculate

Monthly Payments Mortgage Amortization Graph


$1.5M
5%2% Payment
5%
7% Balance
Interest
$1.0M
81%

Mortgage Payment $500.0K


Property Taxes
Mortgage Insurance
Other Cost
Home Insurance
$0
0yr 5yr 10yr 15yr 20yr 25yr

Annual Amortization Schedule


Annual Schedule Monthly Schedule
Date Beginning Balance Interest Principal Ending Balance
1 8/23 - 7/24 $681,500.00 $34,072.94 $13,957.30 $667,542.69
2 8/24 - 7/25 $667,542.69 $33,352.06 $14,678.18 $652,864.48
3 8/25 - 7/26 $652,864.48 $32,593.91 $15,436.33 $637,428.14
4 8/26 - 7/27 $637,428.14 $31,796.66 $16,233.58 $621,194.50
5 8/27 - 7/28 $621,194.50 $30,958.17 $17,072.07 $604,122.40
6 8/28 - 7/29 $604,122.40 $30,076.40 $17,953.84 $586,168.52
7 8/29 - 7/30 $586,168.52 $29,149.06 $18,881.18 $567,287.31
8 8/30 - 7/31 $567,287.31 $28,173.85 $19,856.39 $547,430.89
9 8/31 - 7/32 $547,430.89 $27,148.27 $20,881.97 $526,548.87
10 8/32 - 7/33 $526,548.87 $26,069.69 $21,960.55 $504,588.30
11 8/33 - 7/34 $504,588.30 $24,935.43 $23,094.81 $481,493.45
12 8/34 - 7/35 $481,493.45 $23,742.57 $24,287.67 $457,205.75
13 8/35 - 7/36 $457,205.75 $22,488.12 $25,542.12 $431,663.59
14 8/36 - 7/37 $431,663.59 $21,168.85 $26,861.39 $404,802.16
15 8/37 - 7/38 $404,802.16 $19,781.47 $28,248.77 $376,553.34
16 8/38 - 7/39 $376,553.34 $18,322.39 $29,707.85 $346,845.46
17 8/39 - 7/40 $346,845.46 $16,787.96 $31,242.28 $315,603.16
18 8/40 - 7/41 $315,603.16 $15,174.30 $32,855.94 $282,747.18
19 8/41 - 7/42 $282,747.18 $13,477.28 $34,552.96 $248,194.19
20 8/42 - 7/43 $248,194.19 $11,692.61 $36,337.63 $211,856.53
21 8/43 - 7/44 $211,856.53 $9,815.77 $38,214.47 $173,642.01
22 8/44 - 7/45 $173,642.01 $7,841.98 $40,188.26 $133,453.71
23 8/45 - 7/46 $133,453.71 $5,766.23 $42,264.01 $91,189.67
24 8/46 - 7/47 $91,189.67 $3,583.30 $44,446.94 $46,742.68
25 8/47 - 7/48 $46,742.68 $1,287.59 $46,742.65 $0.00

by Calculator.net

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