Mortgage Calculator 2026
Calculate your monthly mortgage payment, total interest, total housing cost and full amortization schedule. Works for Canada, USA, UK, Australia and any country worldwide.
Mortgage Details
Optional — add your monthly carrying costs to see your total housing payment and GDS ratio. Lenders look at all of these when qualifying you.
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About This Mortgage Calculator
A mortgage is likely the largest financial commitment you will ever make, and understanding exactly what you are signing up for is essential before you speak with any lender. This free mortgage calculator gives you a clear picture of your expected monthly payment, the total interest you will pay over the life of the loan, your true total monthly housing cost, your GDS ratio, and a full year-by-year amortization schedule. It works for Canada, the USA, the UK, Australia, and any other country worldwide.
Canadian mortgages use semi-annual compounding, required by Canadian law. This calculator applies that automatically when Canada is selected, so your results match what your bank or broker quotes. For the USA, UK, and Australia, monthly compounding is used. Select Worldwide and enter your own rate for any other country.
Use the Advanced / Monthly Housing Costs section to add property tax, condo or HOA fees, heating, and home insurance. The calculator will then show your total monthly housing cost and your GDS ratio — the same number lenders use to assess whether you qualify. The Advanced section is collapsed by default so the page stays clean for casual use.
What is the GDS ratio?
The Gross Debt Service ratio is your total monthly housing costs divided by your gross monthly income, expressed as a percentage. Canadian lenders generally require a GDS of 39% or less. In the USA the equivalent is the front-end ratio, with a typical limit of 28%. Knowing your GDS before you meet a lender helps you understand exactly what price range is realistic for your income.
What is the difference between amortization period and mortgage term?
The amortization period is the total time to pay off the mortgage — typically 20 to 30 years. The mortgage term is your current rate agreement, typically 1 to 5 years in Canada. At the end of each term you renew at current rates. Use our Mortgage Renewal Calculator to see exactly what renewal at a different rate means for your payment and total interest.
Can I use this calculator for any country?
Yes. Select Worldwide, enter your own interest rate, and the calculator produces the same full results as any featured country. Whether you are in Germany, Nigeria, Brazil, India, or anywhere else, your results will be accurate based on the rate you provide.