Canadian Mortgage Payment Calculator
Canadian Mortgage Payment: a planned Super Calculator tool. Covers principal (CAD). Stub page: the tool, its formula and a worked example are not published yet.
Canadian Mortgage Payment Calculator is a planned calculator in the real estate section of Super Calculator, covering country mortgage regimes.
What this calculator will compute
Inputs: principal (CAD), nominal annual rate (%), amortization (years), payment frequency and term (years).
Outputs: payment (CAD), effective annual rate (%), balance at end of term (CAD) and total interest over the term (CAD).
Formula, recorded as scope and not yet verified against a primary source: Canadian fixed-rate mortgages are compounded semi-annually, not in advance, by statute, so the monthly periodic rate is (1 + r/2)^(1/6) - 1 rather than r/12. Applying the US convention overstates the payment by a small but consistently wrong amount on every Canadian mortgage.
Status
This page is a stub. The calculator is not built, no figure on this page has been verified against the authority that sets it, and nothing here should be used to make a decision. The page exists so that the site structure is complete and so that articles can link this concept on first mention.
The stub carries noindex, nofollow and is excluded from the sitemap.