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Canadian Mortgage Calculator
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RateSpy.com
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FixedVariable
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Winner:Variable
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Initial Principal774,800Initial Principal774,800
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Winner:Annual, nominal interest rate3.95%Annual, nominal interest rate3.84%
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Summary:The Variable costs roughly $28643 less than the Fixed over 5 years.*Amortization Period (In years. 999 for int. only)25.00Amortization Period (In years. 999 for int. only)25.00
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Yearly Compounding Periods (2 or 12)2 Yearly Compounding Periods (2 or 12)12
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Hypothetical Rate ChangeHypothetical Rate Change
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Rate Increase0.00%EveryFebruary 28, 1900MonthsRate Increase0.50%Every31/08/2024Months
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StartingAugust 31, 2024After Closing For2.50%Total
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Calculated DataCalculated Data
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Periodic Payment, Monthly$4,054.63 Periodic Payment, Monthly$4,021.54
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Effective Initial Annual Rate After Compounding3.99%Effective Initial Annual Rate After Compounding3.91%
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Periodic Initial Annual Interest Rate3.92%Periodic Initial Annual Interest Rate3.84%
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Months to Amortization300.00Months to Amortization300.00
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Average Rate Over Term4.04%Average Rate Over Term3.21%
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Average Payment Over Term$4,125.75 Average Payment Over Term$3,775.22
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Pmt
#		Payment
Month		BoC MeetingPrime RateBoC Rate ChgRatePaymentInterestPrincipalExtra
Payments		BalancePaymentsEquityRatePaymentInterestPrincipalExtra
Payments		BalancePaymentsEquityCumulative Payment DifferenceBenefit of Variable
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Monthly payment diff
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Sep 2024Yes6.45%0.00% 774,800.00 774,800.00
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 1 Oct 2024Yes6.45%-0.50%4.04% 4,092.42 2,586.81 1,505.61 2,000.00 771,294.39 4,092.42 3,505.61 5.20% 4,620.14 3,357.47 1,262.67 773,537.33 4,620.14 1,262.67 $ 1,472 $ 1,472 $ -2,243 $ -771
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 2 Nov 20245.95%0.00%4.04% 4,092.42 2,575.10 1,517.32 769,777.07 8,184.84 5,022.93 4.70% 4,395.57 3,029.69 1,365.88 772,171.45 9,015.71 2,628.55 $ -303 $ 1,169 $ -2,394 $ -1,225
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 3 Dec 2024Yes5.95%-0.50%4.04% 4,092.42 2,570.04 1,522.38 768,254.69 12,277.26 6,545.31 4.70% 4,395.57 3,024.34 1,371.23 770,800.22 13,411.28 3,999.78 $ -303 $ 866 $ -2,546 $ -1,680
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 4 Jan 2025Yes5.45%-0.25%4.04% 4,092.42 2,564.95 1,527.47 766,727.22 16,369.68 8,072.78 4.20% 4,177.93 2,697.80 1,480.13 769,320.09 17,589.21 5,479.91 $ -86 $ 780 $ -2,593 $ -1,812
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 5 Feb 20255.20%0.00%4.04% 4,092.42 2,559.85 1,532.57 765,194.65 20,462.10 9,605.35 3.95% 4,071.61 2,532.35 1,539.26 767,780.83 21,660.82 7,019.17 $ 21 $ 801 $ -2,586 $ -1,785
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 6 Mar 2025Yes5.20%0.00%4.04% 4,092.42 2,554.74 1,537.68 763,656.97 24,554.52 11,143.03 3.95% 4,071.61 2,527.28 1,544.33 766,236.50 25,732.43 8,563.50 $ 21 $ 822 $ -2,580 $ -1,757
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 7 Apr 2025Yes5.20%-0.25%4.04% 4,092.42 2,549.60 1,542.82 762,114.15 28,646.94 12,685.85 3.95% 4,071.61 2,522.20 1,549.41 764,687.09 29,804.04 10,112.91 $ 21 $ 843 $ -2,573 $ -1,730
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 8 May 20254.95%0.00%4.04% 4,092.42 2,544.45 1,547.97 760,566.18 32,739.36 14,233.82 3.70% 3,967.64 2,357.79 1,609.85 763,077.24 33,771.68 11,722.76 $ 125 $ 968 $ -2,511 $ -1,543
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 9 Jun 2025Yes4.95%-0.25%4.04% 4,092.42 2,539.28 1,553.14 759,013.04 36,831.78 15,786.96 3.70% 3,967.64 2,352.82 1,614.82 761,462.42 37,739.32 13,337.58 $ 125 $ 1,092 $ -2,449 $ -1,357
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 10 Jul 2025Yes4.70%0.00%4.04% 4,092.42 2,534.10 1,558.32 757,454.72 40,924.20 17,345.28 3.45% 3,865.74 2,189.20 1,676.54 759,785.88 41,605.06 15,014.12 $ 227 $ 1,319 $ -2,331 $ -1,012
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 11 Aug 20254.70%0.00%4.04% 4,092.42 2,528.90 1,563.52 755,891.20 45,016.62 18,908.80 3.45% 3,865.74 2,184.38 1,681.36 758,104.52 45,470.80 16,695.48 $ 227 $ 1,546 $ -2,213 $ -667
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 12 Sep 2025Yes4.70%0.00%4.04% 4,092.42 2,523.68 1,568.74 754,322.46 49,109.04 20,477.54 3.45% 3,865.74 2,179.55 1,686.19 756,418.33 49,336.54 18,381.67 $ 227 $ 1,773 $ -2,096 $ -323
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 13 Oct 2025Yes4.70%0.00%4.04% 4,092.42 2,518.44 1,573.98 752,748.48 53,201.46 22,051.52 3.45% 3,865.74 2,174.70 1,691.04 754,727.29 53,202.28 20,072.71 $ 227 $ 1,999 $ -1,979 $ 20
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 14 Nov 20254.70%0.00%4.04% 4,092.42 2,513.18 1,579.24 751,169.24 57,293.88 23,630.76 3.45% 3,865.74 2,169.84 1,695.90 753,031.39 57,068.02 21,768.61 $ 227 $ 2,226 $ -1,862 $ 364
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 15 Dec 2025Yes4.70%-0.25%4.04% 4,092.42 2,507.91 1,584.51 749,584.73 61,386.30 25,215.27 3.45% 3,865.74 2,164.97 1,700.77 751,330.62 60,933.76 23,469.38 $ 227 $ 2,453 $ -1,746 $ 707
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 16 Jan 2026Yes4.45%0.00%4.04% 4,092.42 2,502.62 1,589.80 747,994.93 65,478.72 26,805.07 3.20% 3,767.06 2,003.55 1,763.51 749,567.11 64,700.82 25,232.89 $ 325 $ 2,778 $ -1,572 $ 1,206
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 17 Feb 20264.45%0.00%4.04% 4,092.42 2,497.31 1,595.11 746,399.82 69,571.14 28,400.18 3.20% 3,767.06 1,998.85 1,768.21 747,798.90 68,467.88 27,001.10 $ 325 $ 3,103 $ -1,399 $ 1,704
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 18 Mar 2026Yes4.45%0.00%4.04% 4,092.42 2,491.99 1,600.43 744,799.39 73,663.56 30,000.61 3.20% 3,767.06 1,994.13 1,772.93 746,025.97 72,234.94 28,774.03 $ 325 $ 3,429 $ -1,227 $ 2,202
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 19 Apr 2026Yes4.45%-0.25%4.04% 4,092.42 2,486.64 1,605.78 743,193.61 77,755.98 31,606.39 3.20% 3,767.06 1,989.40 1,777.66 744,248.31 76,002.00 30,551.69 $ 325 $ 3,754 $ -1,055 $ 2,699
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 20 May 20264.20%0.00%4.04% 4,092.42 2,481.28 1,611.14 741,582.47 81,848.40 33,217.53 2.95% 3,671.00 1,829.61 1,841.39 742,406.92 79,673.00 32,393.08 $ 421 $ 4,175 $ -824 $ 3,351
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 21 Jun 2026Yes4.20%0.00%4.04% 4,092.42 2,475.90 1,616.52 739,965.95 85,940.82 34,834.05 2.95% 3,671.00 1,825.08 1,845.92 740,561.00 83,344.00 34,239.00 $ 421 $ 4,597 $ -595 $ 4,002
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 22 Jul 2026Yes4.20%0.00%4.04% 4,092.42 2,470.51 1,621.91 738,344.04 90,033.24 36,455.96 2.95% 3,671.00 1,820.55 1,850.45 738,710.55 87,015.00 36,089.45 $ 421 $ 5,018 $ -367 $ 4,652
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 23 Aug 20264.20%0.00%4.04% 4,092.42 2,465.09 1,627.33 736,716.71 94,125.66 38,083.29 2.95% 3,671.00 1,816.00 1,855.00 736,855.55 90,686.00 37,944.45 $ 421 $ 5,440 $ -139 $ 5,301
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 24 Sep 2026Yes4.20%0.00%4.04% 4,092.42 2,459.66 1,632.76 735,083.95 98,218.08 39,716.05 2.95% 3,671.00 1,811.44 1,859.56 734,995.99 94,357.00 39,804.01 $ 421 $ 5,861 $ 88 $ 5,949
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 25 Oct 2026Yes4.20%0.00%4.04% 4,092.42 2,454.21 1,638.21 733,445.74 102,310.50 41,354.26 2.95% 3,671.00 1,806.87 1,864.13 733,131.86 98,028.00 41,668.14 $ 421 $ 6,283 $ 314 $ 6,596
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 26 Nov 20264.20%0.00%4.04% 4,092.42 2,448.74 1,643.68 731,802.06 106,402.92 42,997.94 2.95% 3,671.00 1,802.28 1,868.72 731,263.14 101,699.00 43,536.86 $ 421 $ 6,704 $ 539 $ 7,243
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 27 Dec 2026Yes4.20%0.00%4.04% 4,092.42 2,443.25 1,649.17 730,152.89 110,495.34 44,647.11 2.95% 3,671.00 1,797.69 1,873.31 729,389.83 105,370.00 45,410.17 $ 421 $ 7,125 $ 763 $ 7,888
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 28 Jan 2027Yes4.20%0.00%4.04% 4,092.42 2,437.74 1,654.68 728,498.21 114,587.76 46,301.79 2.95% 3,671.00 1,793.08 1,877.92 727,511.91 109,041.00 47,288.09 $ 421 $ 7,547 $ 986 $ 8,533
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 29 Feb 20274.20%0.00%4.04% 4,092.42 2,432.22 1,660.20 726,838.01 118,680.18 47,961.99 2.95% 3,671.00 1,788.47 1,882.53 725,629.38 112,712.00 49,170.62 $ 421 $ 7,968 $ 1,209 $ 9,177
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 30 Mar 2027Yes4.20%0.00%4.04% 4,092.42 2,426.68 1,665.74 725,172.27 122,772.60 49,627.73 2.95% 3,671.00 1,783.84 1,887.16 723,742.22 116,383.00 51,057.78 $ 421 $ 8,390 $ 1,430 $ 9,820
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 31 Apr 2027Yes4.20%0.00%4.04% 4,092.42 2,421.11 1,671.31 723,500.96 126,865.02 51,299.04 2.95% 3,671.00 1,779.20 1,891.80 721,850.42 120,054.00 52,949.58 $ 421 $ 8,811 $ 1,651 $ 10,462
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 32 May 20274.20%0.00%4.04% 4,092.42 2,415.53 1,676.89 721,824.07 130,957.44 52,975.93 2.95% 3,671.00 1,774.55 1,896.45 719,953.97 123,725.00 54,846.03 $ 421 $ 9,232 $ 1,870 $ 11,103
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 33 Jun 2027Yes4.20%0.00%4.04% 4,092.42 2,409.94 1,682.48 720,141.59 135,049.86 54,658.41 2.95% 3,671.00 1,769.89 1,901.11 718,052.86 127,396.00 56,747.14 $ 421 $ 9,654 $ 2,089 $ 11,743
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 34 Jul 2027Yes4.20%0.00%4.04% 4,092.42 2,404.32 1,688.10 718,453.49 139,142.28 56,346.51 2.95% 3,671.00 1,765.21 1,905.79 716,147.07 131,067.00 58,652.93 $ 421 $ 10,075 $ 2,306 $ 12,382
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 35 Aug 20274.20%0.00%4.04% 4,092.42 2,398.68 1,693.74 716,759.75 143,234.70 58,040.25 2.95% 3,671.00 1,760.53 1,910.47 714,236.60 134,738.00 60,563.40 $ 421 $ 10,497 $ 2,523 $ 13,020
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 36 Sep 2027Yes4.20%0.00%4.04% 4,092.42 2,393.03 1,699.39 715,060.36 147,327.12 59,739.64 2.95% 3,671.00 1,755.83 1,915.17 712,321.43 138,409.00 62,478.57 $ 421 $ 10,918 $ 2,739 $ 13,657
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 37 Oct 2027Yes4.20%0.00%4.04% 4,092.42 2,387.35 1,705.07 713,355.29 151,419.54 61,444.71 2.95% 3,671.00 1,751.12 1,919.88 710,401.55 142,080.00 64,398.45 $ 421 $ 11,340 $ 2,954 $ 14,293
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 38 Nov 20274.20%0.00%4.04% 4,092.42 2,381.66 1,710.76 711,644.53 155,511.96 63,155.47 2.95% 3,671.00 1,746.40 1,924.60 708,476.95 145,751.00 66,323.05 $ 421 $ 11,761 $ 3,168 $ 14,929
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 39 Dec 2027Yes4.20%0.00%4.04% 4,092.42 2,375.95 1,716.47 709,928.06 159,604.38 64,871.94 2.95% 3,671.00 1,741.67 1,929.33 706,547.62 149,422.00 68,252.38 $ 421 $ 12,182 $ 3,380 $ 15,563
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 40 Jan 2028Yes4.20%0.00%4.04% 4,092.42 2,370.22 1,722.20 708,205.86 163,696.80 66,594.14 2.95% 3,671.00 1,736.93 1,934.07 704,613.55 153,093.00 70,186.45 $ 421 $ 12,604 $ 3,592 $ 16,196
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 41 Feb 20284.20%0.00%4.04% 4,092.42 2,364.47 1,727.95 706,477.91 167,789.22 68,322.09 2.95% 3,671.00 1,732.17 1,938.83 702,674.72 156,764.00 72,125.28 $ 421 $ 13,025 $ 3,803 $ 16,828
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 42 Mar 2028Yes4.20%0.00%4.04% 4,092.42 2,358.70 1,733.72 704,744.19 171,881.64 70,055.81 2.95% 3,671.00 1,727.41 1,943.59 700,731.13 160,435.00 74,068.87 $ 421 $ 13,447 $ 4,013 $ 17,460
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 43 Apr 2028Yes4.20%0.00%4.04% 4,092.42 2,352.91 1,739.51 703,004.68 175,974.06 71,795.32 2.95% 3,671.00 1,722.63 1,948.37 698,782.76 164,106.00 76,017.24 $ 421 $ 13,868 $ 4,222 $ 18,090
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 44 May 20284.20%0.00%4.04% 4,092.42 2,347.10 1,745.32 701,259.36 180,066.48 73,540.64 2.95% 3,671.00 1,717.84 1,953.16 696,829.60 167,777.00 77,970.40 $ 421 $ 14,289 $ 4,430 $ 18,719
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 45 Jun 2028Yes4.20%0.00%4.04% 4,092.42 2,341.28 1,751.14 699,508.22 184,158.90 75,291.78 2.95% 3,671.00 1,713.04 1,957.96 694,871.64 171,448.00 79,928.36 $ 421 $ 14,711 $ 4,637 $ 19,347
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 46 Jul 2028Yes4.20%0.00%4.04% 4,092.42 2,335.43 1,756.99 697,751.23 188,251.32 77,048.77 2.95% 3,671.00 1,708.23 1,962.77 692,908.87 175,119.00 81,891.13 $ 421 $ 15,132 $ 4,842 $ 19,975
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 47 Aug 20284.20%0.00%4.04% 4,092.42 2,329.56 1,762.86 695,988.37 192,343.74 78,811.63 2.95% 3,671.00 1,703.40 1,967.60 690,941.27 178,790.00 83,858.73 $ 421 $ 15,554 $ 5,047 $ 20,601
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 48 Sep 2028Yes4.20%0.00%4.04% 4,092.42 2,323.68 1,768.74 694,219.63 196,436.16 80,580.37 2.95% 3,671.00 1,698.56 1,972.44 688,968.83 182,461.00 85,831.17 $ 421 $ 15,975 $ 5,251 $ 21,226
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 49 Oct 2028Yes4.20%0.00%4.04% 4,092.42 2,317.77 1,774.65 692,444.98 200,528.58 82,355.02 2.95% 3,671.00 1,693.72 1,977.28 686,991.55 186,132.00 87,808.45 $ 421 $ 16,397 $ 5,453 $ 21,850
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 50 Nov 20284.20%0.00%4.04% 4,092.42 2,311.85 1,780.57 690,664.41 204,621.00 84,135.59 2.95% 3,671.00 1,688.85 1,982.15 685,009.40 189,803.00 89,790.60 $ 421 $ 16,818 $ 5,655 $ 22,473
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 51 Dec 2028Yes4.20%0.00%4.04% 4,092.42 2,305.90 1,786.52 688,877.89 208,713.42 85,922.11 2.95% 3,671.00 1,683.98 1,987.02 683,022.38 193,474.00 91,777.62 $ 421 $ 17,239 $ 5,856 $ 23,095
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 52 Jan 2029Yes4.20%0.00%4.04% 4,092.42 2,299.94 1,792.48 687,085.41 212,805.84 87,714.59 2.95% 3,671.00 1,679.10 1,991.90 681,030.48 197,145.00 93,769.52 $ 421 $ 17,661 $ 6,055 $ 23,716
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 53 Feb 20294.20%0.00%4.04% 4,092.42 2,293.96 1,798.46 685,286.95 216,898.26 89,513.05 2.95% 3,671.00 1,674.20 1,996.80 679,033.68 200,816.00 95,766.32 $ 421 $ 18,082 $ 6,253 $ 24,336
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 54 Mar 2029Yes4.20%0.00%4.04% 4,092.42 2,287.95 1,804.47 683,482.48 220,990.68 91,317.52 2.95% 3,671.00 1,669.29 2,001.71 677,031.97 204,487.00 97,768.03 $ 421 $ 18,504 $ 6,451 $ 24,954
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 55 Apr 2029Yes4.20%0.00%4.04% 4,092.42 2,281.93 1,810.49 681,671.99 225,083.10 93,128.01 2.95% 3,671.00 1,664.37 2,006.63 675,025.34 208,158.00 99,774.66 $ 421 $ 18,925 $ 6,647 $ 25,572
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 56 May 20294.20%0.00%4.04% 4,092.42 2,275.88 1,816.54 679,855.45 229,175.52 94,944.55 2.95% 3,671.00 1,659.44 2,011.56 673,013.78 211,829.00 101,786.22 $ 421 $ 19,347 $ 6,842 $ 26,188
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 57 Jun 2029Yes4.20%0.00%4.04% 4,092.42 2,269.82 1,822.60 678,032.85 233,267.94 96,767.15 2.95% 3,671.00 1,654.49 2,016.51 670,997.27 215,500.00 103,802.73 $ 421 $ 19,768 $ 7,036 $ 26,804
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 58 Jul 2029Yes4.20%0.00%4.04% 4,092.42 2,263.73 1,828.69 676,204.16 237,360.36 98,595.84 2.95% 3,671.00 1,649.53 2,021.47 668,975.80 219,171.00 105,824.20 $ 421 $ 20,189 $ 7,228 $ 27,418
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 59 Aug 20294.20%0.00%4.04% 4,092.42 2,257.63 1,834.79 674,369.37 241,452.78 100,430.63 2.95% 3,671.00 1,644.57 2,026.43 666,949.37 222,842.00 107,850.63 $ 421 $ 20,611 $ 7,420 $ 28,031
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 60 Sep 2029Yes4.20%0.00%4.04% 4,092.42 2,251.50 1,840.92 672,528.45 245,545.20 102,271.55 2.95% 3,671.00 1,639.58 2,031.42 664,917.95 226,513.00 109,882.05 $ 421 $ 21,032 $ 7,611 $ 28,643
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 245,545.20 145,273.65 100,271.55 2,000.00 672,528.45 226,513.00 116,630.95 109,882.05 0.00 664,917.95
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PaymentsInterestPrinciplePre-paymentsBalancePaymentsInterestPrinciplePre-paymentsBalance
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* The above information is based on hypothetical assumptions and projections, estimates, calculations, opinions and current market conditions. It is impossible to predict interest rates in the future and all of these
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factors are subject to change without notice. Your actual results may be better or worse than the hypothetical data shown here. No warranties are provided on this information or these calculations. This document is
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provided for general interest only. No recommendations are being made, or should be construed. E.&O.E. Approval O.A.C. Copyright 2014, McLister Media Inc. All rights reserved.
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