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Find Great Tips &
Strategies Here that the
Banks Won’t Tell You

Pay Off Your Mortgage Faster

Use this calculator to determine how much you can save over the life of your mortgage by making pre-payments and increasing your payment frequency.

Pay Off Your Mortgage Faster

Minimum Payment

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Credit Card Balance

Your total current balance for this credit card.

Original Amortization*

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Credit Card Balance

Your total current balance for this credit card.

Years Remaining*

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Credit Card Balance

Your total current balance for this credit card.

Original Mortgage Amount

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Credit Card Balance

Your total current balance for this credit card.

Interest Rate*

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Credit Card Balance

Your total current balance for this credit card.

Additional Payment Frequency*

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Credit Card Balance

Your total current balance for this credit card.

Current Mortgage Payment:

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Credit Card Balance

Your total current balance for this credit card.

Total Scheduled Payments

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Credit Card Balance

Your total current balance for this credit card.

Total Accelerated Payments

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Credit Card Balance

Your total current balance for this credit card.

Accelerated Savings

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Credit Card Balance

Your total current balance for this credit card.

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Glossary

In spite of what the banks tell you, you don't need a car loan and an RRSP loan and a line of credit to cover your consumer debt. Multiple loans just complicate your life. It makes it harder for you to manage payments and to make sure you are getting the best interest rate.

A single source for all your debt simplifies your payment strategy, and can give you the lowest possible rate.

People who lend you money need assurance that they will be paid back. The simplest way is to offer "collateral". Collateral will act as security against the loan, which reduces the lenders risk, and reduces your interest rate.

There are specialty loan providers who buy from a variety of sources, and can offer you lower rates. Because your home makes you a safe risk, these loans can be arranged quickly and with little hassle.

One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.

One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.

One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.

One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.

One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.

One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.