Monthly Mortgage Payment Cheat Sheet

It can be hard to get an accurate monthly payment estimate for every house that you are interested in.  Using a mortgage calculator is convenient when used occasionally, but to plug in ten, twenty or more numbers can be a tedious task.
    To get an accurate monthly payment estimate, all you really need to know is your mortgage balance and the multiplier for the balance.
    Using the multiplier and a cheap dollar store calculator you should have your monthly payment estimate for any house at any time within seconds.


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Credit Card Nerd Math

Below we have your monthly mortgage payment for every $100,000 of mortgage.  For example, a $249,900 mortgage over 25 years at 2.25% would have a $1,088.59 monthly mortgage payment.  The math works like this; $2.499 x $435.61 = $1088.59
    This is a great chart to use to calculate quickly the monthly mortgage payment on any house you are interested in buying.  You don't need to print out the whole chart.  Once you know your interest rate, all you need to do is write down the monthly numbers for the amortization periods that you are interested in.



Mortgage Payment Table for every $100,000 on your Mortgage

Interest Rate

Amortization Period

15 Years

20 Years

25 Years

1.85%

$636.30

$498.48

$416.25

1.90%

$638.57

$500.81

$418.64

1.95%

$640.85

$503.15

$421.04

2.00%

$643.13

$505.49

$423.45

2.05%

$645.41

$507.84

$425.87

2.10%

$647.70

$510.20

$428.29

2.15%

$650.00

$512.56

$430.72

2.20%

$652.29

$514.93

$433.16

2.25%

$654.60

$517.31

$435.61

2.30%

$656.90

$519.69

$438.07

2.35%

$659.22

$522.07

$440.53

2.40%

$661.53

$524.47

$443.00

2.45%

$663.86

$526.87

$445.48

2.50%

$666.18

$529.27

$447.97

2.55%

$668.51

$531.69

$450.46

2.60%

$670.85

$534.10

$452.96

2.65%

$673.19

$536.53

$455.47

2.70%

$675.53

$538.96

$457.99

2.75%

$677.88

$541.39

$460.51

2.80%

$680.23

$543.84

$463.04

2.85%

$682.59

$546.29

$465.58

2.90%

$684.95

$548.74

$468.13

2.95%

$687.32

$551.20

$470.68

3.00%

$689.69

$553.67

$473.25

3.05%

$692.06

$556.14

$475.81

3.10%

$694.44

$558.62

$478.39

3.15%

$696.83

$561.10

$480.98

3.20%

$699.22

$563.59

$483.57

3.25%

$701.61

$566.09

$486.17

3.30%

$704.01

$568.59

$488.77

3.35%

$706.41

$571.10

$491.39

3.40%

$708.82

$573.62

$494.01

3.45%

$711.23

$576.14

$496.63




Mortgage Calculator
Canadian Mortgage Rate Comparison

A list of the best 1, 2, 3, 4 and 5+ year fixed and variable mortgage rates in Canada from banks, lenders and brokers




A Wake Up Call

The difference between a 3.45% and a 1.85% mortgage rate can be the same as taking five years off your mortgage.  Always keep a clean credit record and make sure you shop for the best rate if you think your bank is not giving you a great rate.