Personal Finance

Really good mortgage calculator?

  • Last Updated:
  • Jan 20th, 2014 11:29 pm
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[OP]
Deal Addict
Sep 7, 2010
1335 posts
127 upvotes
Calgary

Really good mortgage calculator?

Does anyone have a good recommendation for a mortgage calculator that is good for figuring out additional payment information?

I basically want to punch in my mortgage info, and see the effects of increasing the monthly payment, or adding one time lump sum payments.

For example, increasing my payment by xx amount each month shortens you mortgage term by xx years, and reduces your interest paid by xx dollars. And obviously I'd like the same information for lump sum payments.

All of the ones I've found seem more geared towards trying to sell me a mortgage.
8 replies
Deal Addict
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Jan 16, 2011
3321 posts
2770 upvotes
The NORTH
CIBC Mortgage Calculator Love this one, used it extensively when looking for my first home and for assessing potential increase's in payments since.
Sr. Member
May 5, 2006
636 posts
89 upvotes
Of the ones above, the Scotiabank one seems the most flexible in terms of multiple prepayments, but it doesn't let you save the amortization payments chart (boo!)

Try this:
http://www.vertex42.com/Calculators/hom ... lator.html
It's an excel sheet that you can save and it's pretty complete. My favorite online calculator is sadly no more :(
Member
Aug 17, 2008
464 posts
188 upvotes
Quebec
randomthoughts wrote:
Jan 20th, 2014 5:58 pm
Of the ones above, the Scotiabank one seems the most flexible in terms of multiple prepayments, but it doesn't let you save the amortization payments chart (boo!)

Try this:
http://www.vertex42.com/Calculators/hom ... lator.html
It's an excel sheet that you can save and it's pretty complete. My favorite online calculator is sadly no more :(
There is an amortisation schedule, you have to click, bottom right
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Jul 16, 2003
10398 posts
1464 upvotes
Toronto
Vertex calculators are awesome.
Andre Oliveira - Mortgage Agent
Mortgage Intelligence - FSCO# 10428
Sr. Member
May 5, 2006
636 posts
89 upvotes
sr79 wrote:
Jan 20th, 2014 6:25 pm
There is an amortisation schedule, you have to click, bottom right
Yeah, you can see it (that's part of why I picked it from the ones that were posted), but it's not copy-able/saveable. I guess you could take a screenshot.

Having an amortization schedule was immensely motivating to me... seeing how little principal was being paid in the early payments.

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