Mortgage Calculator

[Canadian FIRE]

Well folks, I was got some good advice on invest vs pay off mortgage from the board so I thought I would share the results.

I increased my mortgage payments by 10% and will put down an extra $1000 a year beyond that. That way my mortage should be paid off for my FIRE goal of 45. The remaining savings will go to the investment pool.

I found a few good links on mortgage calculators that I found. If anyone else has come across some other ones I would love to see a few links.

Enjoy.
CF

http://www.fiscalagents.com/toolbox/cal/mort/mort_paydown.shtml
(This one is a bit limited, but give a good place to start.)

http://www.canadamortgage.com/calculators/amortization.cgi?CFID=433637&CFTOKEN=23469246
(This one offers a ton of calculators, one of the best I've seen so far.)

 

[Maximillion]

CF, chances are that you will Buy a bigger House with a Bigger Mortgage as you get older, then sell for a smaller House with No Mortgage.

 

[Canadian FIRE]

CF, chances are that you will Buy a bigger House with a Bigger Mortgage as you get older, then sell for a smaller House with No Mortgage.

Max - Your most likely right. Kids tend to cause housing changes. Not to mention I plan on moving out of my town in the next 3 year or so. But at least I can gain some equity for the next down payment and hopefully have enought to get around the CMHC fees next time.

 

[WanderALot]

I haven't tried out too many of them but the HSH Associates Calculator is pretty good. Apart from the usual amortization stuff, it also lets you factor in additional payments, figure out closing costs and do some what-if scenarios.

http://www.hsh.com/hbcalc.html