Accelerate
Compare recurring, annual, and one-time prepayments, interest saved, and a target payoff date. Change any assumption and the full plan recalculates instantly.
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Compare the projected balance with and without the selected extra payments.
The selected prepayments save about $101,682 and shorten payoff by 6.0 years.
| Period | Regular plan | With prepayments |
|---|---|---|
| Year 1 | $508,811 | $493,358 |
| Year 2 | $497,084 | $475,436 |
| Year 3 | $484,793 | $456,652 |
| Year 4 | $471,911 | $436,966 |
| Year 5 | $458,410 | $416,333 |
| Year 6 | $444,261 | $394,709 |
| Year 7 | $429,431 | $372,045 |
| Year 8 | $413,889 | $348,292 |
| Year 9 | $397,599 | $323,397 |
| Year 10 | $380,527 | $297,306 |
| Year 11 | $362,634 | $269,960 |
| Year 12 | $343,881 | $241,301 |
| Year 13 | $324,226 | $211,263 |
| Year 14 | $303,627 | $179,782 |
| Year 15 | $282,038 | $146,788 |
| Year 16 | $259,412 | $112,209 |
| Year 17 | $235,697 | $75,967 |
| Year 18 | $210,843 | $37,983 |
| Year 19 | $184,795 | $0 |
| Year 20 | $157,494 | $0 |
| Year 21 | $128,881 | $0 |
| Year 22 | $98,893 | $0 |
| Year 23 | $67,463 | $0 |
| Year 24 | $34,523 | $0 |
| Year 25 | $0 | $0 |
Planning estimate only. Lenders use their own qualification, compounding, rounding, insurance, fee, tax, and contract rules.
Calculator guide
Extra principal reduces the balance on which later interest is calculated. This calculator compares the regular schedule with extra money on every payment, a recurring annual lump sum, and one separate lump sum at a chosen payment number.
The mathematical saving does not override the mortgage contract. Confirm the permitted amount, eligible dates, and penalty rules before sending a prepayment.
Interest saved compares the accelerated schedule with the same mortgage and no extra principal. The new payoff time reflects all three prepayment types.
Earlier prepayments generally have more time to reduce interest, but using cash can reduce liquidity. Compare the saving with emergency needs and higher-interest debt.
Questions answered
Yes. Enter it as a one-time lump sum and choose the payment number when it will be applied.
Only within the prepayment privileges and timing rules in your contract. Amounts above the allowed limit may trigger a penalty.
No. Accelerated biweekly commonly uses half the monthly payment every two weeks, producing the equivalent of one extra monthly payment each year.
Rules and tax programs can change. Confirm the current requirements before acting.
Use the estimate well
It can model transparent assumptions, compare scenarios, and expose tradeoffs. It cannot approve a loan, quote a lender, predict markets, interpret your contract, or replace licensed advice.
Run the base case, a higher rate, a lower home value, and a cash-buffer case.
Confirm compounding, prepayment, fees, insurance, dates, and lender rounding.
A feasible payment is not the same as a resilient household budget.
Related field notes
A practical plan for the cash flow, paperwork, protection, and new priorities that follow your final mortgage payment.
PlanningCompare one-time, annual, and recurring mortgage prepayments in Canada, including interest saved, payoff time, and contract limits.