Active Mortgage Payoff Model

Current mortgage

Scenario type

Purchase affordability components are excluded from the active mortgage payoff model.

Current mortgage balance

Interest rate

Rate type

Payment frequency

Payment source

Calculated payment uses the selected rate, amortization, compounding, and frequency.

Remaining amortization (years)

Renewal / term remaining (years)

Balance shown at renewal

Balance / as-of date

Next payment date

Payment cycle

Schedule starts on the first payment date entered above.

Advanced mortgage assumptions

Purpose

Occupancy

Newly built home (eligible for 30-yr insured amortization) Borrowed / non-traditional down payment

Payment rounding (lender convention)

Payoff strategy: extra payments & prepayments

Extra per payment

Annual lump sum

starting year

One-time lump sum

in year

Date-specific ad hoc payments

Each entry is applied to the first scheduled payment on or after its date, and recalculates the payoff immediately.

Tip: the "By payment" tab on the amortization schedule has an editable Extra column — set any prepayment on any individual payment.

Prepayment privilege limit

Annual privilege (% of original)

If exceeded

Prepayment penalty (breaking the mortgage early)

Break after (yr)

Comparison rate %

Type

Compare a second scenario (B)

Rate %

Amort (yr)

Frequency

Extra per payment (B)

Show A vs B comparison

Calculation audit & assumptions Validated model · Canadian compounding · formulas, sources, and test status available on demand View audit

Audit detail

$0/mo

Current balance

Payoff date

Time saved

Interest remaining

Balance at renewal

Interest saved

Payoff strategy impact

Rate sensitivity

Balance over time

Mortgage balance

Amortization schedule

Estimates only. Canadian fixed mortgages compound semi-annually (Interest Act); variable typically monthly. Tax/insurance figures are reconciled against a source-cited research pass — see research/.