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Before & after payments

Compare down payments, rates, amortization and total interest.

Before & after

Small changes. See the full picture.

Home purchase price

Before

Before: down paymentBefore: interest rate (%)Before: amortization (years)

Monthly principal & interest$3,646

Mortgage including premium: $640,000
Default-insurance premium: $0
Interest over 25 years: $453,840
Total mortgage payments: $1,093,840

After

After: down paymentAfter: interest rate (%)After: amortization (years)

Monthly principal & interest$3,251

Mortgage including premium: $600,000
Default-insurance premium: $0
Interest over 25 years: $375,346
Total mortgage payments: $975,346

$395 less per month after the change

Down payment changes by $40,000. Lifetime interest changes by -$78,494 under the assumptions below.

Before · $3,646

After · $3,251

Illustration only. Assumes the displayed fixed rate stays unchanged for the entire amortization, monthly payments and Canadian semi-annual compounding. Future renewal rates will differ. Excludes taxes, insurance-premium tax, closing costs and fees. Standard owner-occupied insurance assumptions apply; lender programs vary. A lower payment can mean more lifetime interest when repayment is extended.