Mortgage Strategizer
Getting the most from your mortgage financing is important. Many Canadian borrowers have questions about how they can save money on their mortgage over the long term:
- How much principal will I have paid off after five years?
- What is the impact of a one-time prepayment on the length of the loan?
- What effect does a prepayment have on the total amount of interest I'll pay?
- How much faster can I pay down my debt if I pay an extra $1,000 every year?
- What happens to my principal if I pay an extra amount each month?
- How much interest will I save if I renegotiate at a lower mortgage rate?
- What if I decide to go with a longer or shorter amortization period?
Our Mortgage Strategizer Calculator enables you to explore questions like these and start thinking about a mortgage strategy that fits your goals. This online mortgage calculator is a powerful planning tool that allows you to see the impact of a range of variables on a mortgage. The left side of the table contains the input fields and the right side the instructions.
Please note: Do not use a comma when entering mortgage principal or prepayment amounts or the results will be distorted.
Once you have input your unique mortgage variables, you can generate a customized blueprint of your mortgage, including details for each year of the loan. With the Mortgage Strategizer Calculator, you can print out a complete amortization schedule and see the impact of a particular amortization period (length of the mortgage), a mortgage rate, or various kinds of prepayments.
When you have your customized report, consult with an Invis mortgage broker to discuss the results in detail and determine the mortgage strategy that is right for you.
