Payment Comparison Calculator

Designed to help you compare different options within the same mortgage. You can compare a change in interest rate, amortization, payment frequency, increase of payment, term etc. What you will be able to determine is your total savings in interest during the term of your mortgage and over the entire amortization period.

Voted the best on-line mortgage tool by Money Sense magazine.

Step 1

Input mortgage principal, product (or term), rate, amortization and payment frequency, closing date and first payment date.

Step 2

The calculator will provide you with a series of calculations including total P&I (principal and interest), your mortgage balance and total interest paid until end of term.

Step 3

You can update the Closing Date and First Payment Date if you know this information. By clicking on "Amortization" at the bottom, you will be able to view and print an amortization table. This provides you with a breakdown of all principal and interest payments and the amount your mortgage reduces by over the term of your mortgage. You will be able to compare the total principal and interest costs you save by taking advantage of the many payment privileges HLC offers.

Step 4

Click "Option 2" to copy the information from Base Mortgage.

Step 5

From here you can compare "Base Mortgage and Option 2 Mortgage" - specifically, different payment frequencies, applying lump sum payments or annual prepayments. You will be able to quantify what your savings will be and which options best suit your needs.

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