Mortgage Planner

Quebec closing costs · Canadian semi-annual compounding · Variable renewal terms

Inputs
$
$

Drives the default municipal + school tax

20% · $140,000
25 years
$/ payment
%
yr

Compounded semi-annually · fixed closed

Renewal schedule
yr 1–3$2,943 / mo
yr
%
yr 4–6$3,014 / mo
yr
%
yr 7+$3,076 / mo
yr
%
Monthly payment
$2,942.68
principal + interest
Loan amount
$560,000
after down payment
All-in / month
$3,681
incl. taxes, bills
Total interest
$355,688
64% of loan
Total cost
$1,055,688
payments + down
Payoff time
25 yrs
300 payments
Cash needed to close
Down payment$140,000
Land transfer tax$
Notary fees$
Title insurance$
Inspection$
Moving$
Total cash$157,211
Monthly carrying cost
Mortgage payment$2,943
Municipal tax$
School tax$
Home insurance$
Utilities$
Internet$
Total / month$3,681
Lump-sum payment
Amount$
At year
—
Enter an amount to see the interest saved
Prepayment privilege
Lender allows%
You plan to use%
$56,000 / yr
Set a percentage to use to see the impact
Balance over time
paid off in 25 yr
600k450k300k150k0
Principal paid over time
600k450k300k150k0
Rent vs. Buy — net worth
Monthly rent$
Rent increase / yr%
Market return%
Home appreciation%
Years shown
2.5M1.9M1.3M625k0
Buyer net worth
$2,370,448
home equity + freed mortgage payments invested after payoff
Renter net worth
$1,253,530
down payment + monthly savings invested at market return
Buying overtakes renting in year 1
Amortization schedule