How expensive will your mortgage get?

Mortgage amount
Term (years)
Amortization (years)
Payment frequency

Pick two rates to compare

Rate 1
Rate 2

Monthly payment

5.0%

$1,163

7.0%

$1,401

Monthly difference

+$238

Total paid over 5-year term

5.0%

$69,793

7.0%

$84,050

Difference over a 5-year term

+$14,257

Total paid over 5-year term

5.0%

Total: $69,793

7.0%

Total: $84,050

Read the methodology

Credits: Graeme Bruce, Nael Shiab, Wendy Martinez, Robert Davidson