Calculate the monthly payment on your current mortgage, or one you're contemplating.

You can use either the standard calculation (applies to standard loans, U.S. mortgages or 'variable' Canadian mortgages) or the Canadian mortgage calculation. The standard calculation compounds the interest according to the payment period, while the Canadian calculation forces the compounding period to every six months, resulting in a very slightly lower payment.

You'll need the following information:

• the principal amount, e.g. $100,000
• whether this is a 'standard' (ie 'variable') rate mortgage / loan or a 'Canadian' mortgage
• the annual interest rate, e.g. 4.57%
• the amortization period in months, e.g. 240 months for a 20 year mortgage

Type in only numbers - don't type any $ signs, commas or % signs
You can calculate up to three different cases, enabling you to quickly see the implications of different alternatives
If you press the Recalc 1, Recalc 2 or Recalc 3 button, the payment for only that case will be recalculated.
If you press the Copy 1>>2,3 button, the values in the first case will be copied to Case 2 and 3.
If you press the Recalc All button at the bottom of the third case, the payments for all three cases will be recalculated.