Comparison
Compare Mortgage Scenarios
Play three mortgage scenarios against each other, different rates, different terms, different amortizations.
Edit each scenario card on the right.
Compounded semi-annually per Canadian rules. Term is the length of your rate contract; amortization is how long until the mortgage is fully paid.
Would you like help with these numbers?
Calculators use general assumptions. Athena can review your numbers and explain lender rules, qualification questions or options the estimate may not cover.
What this calculator helps you explore
Three mortgage structures side by side, so different rates, terms and amortizations can be compared on the same amount.
What the estimate considers
- Mortgage amount
- Rate, term and amortization for each scenario
- Payment and balance at the end of each term
What it may not capture
- Product features such as prepayment terms, penalty formulas and portability
- Whether all three structures are available to you at once
- Costs of switching lenders at renewal
A practical example
A shorter term with a slightly different rate can leave you with a different balance at renewal. Comparing end-of-term balances is often more useful than comparing payments.
Assumptions and sources
- Semi-annual compounding per Canadian rules
- Term is the length of the rate contract; amortization is the full repayment period
Last reviewed: pending Athena's review