Mortgage Comparison Calculator

Enter Your Information

Mortgage Amount

$

Payment Frequency

Product

Interest Rate

%

Amortization

Yrs

Mortgage Amount

$

Payment Frequency

Product

Interest Rate

%

Amortization

Yrs

For new mortgages, if the downpayment or equity is **less than 20%** of the purchase price, the amortization **cannot exceed 25 years** and the maximum purchase price must be **less than $1,000,000.**

Calculation results are approximates and for information purposes only and rates quotes are not considered as rate guarantees. The calculations assume all payments are made when due. Calculations assume that the interest rate would remain constant over the entire amortization period, but actual interest rates may vary over the amortization period. Making weekly/bi-weekly payments will have the effect of making an extra monthly payment every year and will shorten your amortization.

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February 21, 2014

Thank you for taking the time to complete our mortgage comparison calculator. Based on the information you entered, your results are illustrated in the graph and table below.

For more information, visit us at www.scotiabank.com to locate your nearest branch or Home Financing Advisor.

February 21, 2014

Period | Principal | Interest | Balance | Principal | Interest | Balance |
---|---|---|---|---|---|---|

Year 1 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 2 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 3 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 4 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 5 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 6 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 7 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Year 8 | $20,000.00 | $15,000.00 | $5,000.00 | $250,000.00 | $5,000.00 | $250,000.00 |

Total |
$20,000.00 | $15,000.00 | $250,000.00 | $5,000.00 |

Years