How to Use the Universal Mortgage Calculator
Step-by-step guide to our ultimate mortgage comparison engine. Compare up to 4 strategies side-by-side, model variable rate changes, and share expireable links with your broker.
Estimated time: 5-10 minutes
Photo by Tierra Mallorca on Unsplash
Enter Your Base Strategy
Start by entering your mortgage principal, initial rate, and amortization. Use the toggles to switch between Fixed and Variable rates.
Compare Multiple Scenarios
Click 'Add Strategy' to compare side-by-side. You can add up to 4 scenarios to see how a lower rate or shorter term affects your total interest.
Model Rate Changes
For variable rates, expand the 'Rate Changes' panel to project future prime rate shifts. The tool will recalculate your payments and amortization in real-time.
Optimize with Prepayments
Use the 'Prepayments' panel to add lump sums or recurring monthly extras. Watch the 'Winners' badges identify which strategy saves you the most money.
Share Your Comparison
Click 'Share Comparison' to generate a secure, 7-day temporary link. This is perfect for sending your calculations to a partner or mortgage broker for review.
Export the Schedule
Need the raw numbers? Use the 'Download CSV' button to get a full month-by-month amortization schedule for your chosen strategy.
Identify the 'Best' Strategy
Check for the green 'Best' badge and the Comparison Table at the bottom. We rank strategies by Total Interest, Monthly Payment, and Time to Payoff.