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

Reduce Mortgage Interest Payments

Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay, and your principal balances. You can even determine the impact of any principal prepayments! Press the report button for a full amortization schedule, either by year or by month.

Refinance Interest Savings Calculator

Original Mortgage Balance*

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Credit Card Balance

Your total current balance for this credit card.

Original Rate*

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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.

Number of payments made*

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Credit Card Balance

Your total current balance for this credit card.

New Mortgage Balance:

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Credit Card Balance

Your total current balance for this credit card.

New Rate*

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Credit Card Balance

Your total current balance for this credit card.

New Amortization*

?
Credit Card Balance

Your total current balance for this credit card.

Closing Costs*

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Credit Card Balance

Your total current balance for this credit card.

Prepayment Penalties

?
Credit Card Balance

Your total current balance for this credit card.

You could save $25,987.00 in interest
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50
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10
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Your payment will decrease $135.10 per month
60
50
40
30
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10
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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.