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Mortgage Early Payoff Calculator

See how extra payments cut mortgage interest and time, and what extra payment hits a target payoff year.

Your details

Instant result — 2026 defaults filled, edit anything. All fields are prefilled with the 2026 Canada defaults and the result shows instantly. Change any field and it recalculates instantly. Reset restores the 2026 defaults.

Mortgage balance ($)Prefilled with the 2026 default — edit if you want, e.g. 400000.

Interest rate (%)Default: 5% — you can change it.

Amortization (years)Prefilled with the 2026 default — edit if you want, e.g. 25.

Extra monthly payment ($)Prefilled with the 2026 default — edit if you want, e.g. 200.

Target payoff (years)Prefilled with the 2026 default — edit if you want, e.g. 15.

Your results

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Calculated with the 2026 Canada rules shown on this page. This is not tax, legal or financial advice, and not an official CRA / Service Canada determination.

Advanced

About Mortgage Early Payoff Calculator

See how extra payments cut mortgage interest and time, and what extra payment hits a target payoff year. The result appears instantly with the 2026 defaults filled in — edit anything you want.

FAQs

What does this calculator do?

See how extra payments cut mortgage interest and time, and what extra payment hits a target payoff year.

How do I use it?

The result appears instantly with the 2026 defaults filled in — edit any field and it updates instantly, with no signup.

Is the result official?

No. This is a calculator estimate based on the 2026 rules shown on this page, not an official CRA / Service Canada determination. Check official rules for your case.

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