Compare Two Mortgages calculator

Which product actually wins?

Put any two mortgage options side by side — insured vs. conventional, fixed vs. variable, 25 vs. 30 years — and see interest, principal, equity and the true cost over the term. Pre-filled with today’s best 5-year fixed from our lender feed (4.34%) — change anything.

Option B is ahead over 5 years by$38,472

Option B costs $38,472 less over the term, with a lower payment ($672/month) and $45,000 more cash at closing. If that extra down payment drains your cushion, Option A is the smarter move. One more thing: if life forces you to break after 2 years, Option B gets out for about $2,982 versus $5,972 on Option A. If there’s any real chance of selling or refinancing mid-term, that $2,989 matters more than the rate gap. Remember the variable side is a snapshot at today’s rate, not a promise. The ‘if prime moves’ rows show the spread.

Payment gap (monthly equivalent): $672.44 less on B
Interest gap over the term: $25,917 less on B
Equity gap at end of term: $43,126 more on B
Lifetime interest gap: $48,080 less on B

	Option A	Option B
The mortgage
Down payment	$45,000 (10.0%)	$90,000 (20.0%)
Default insurance premium	$12,555 (3.1%)	None
Mortgage amount	$417,555	$360,000
Rate · amortization	4.34% fixed · 25 yrs	3.45% variable · 30 yrs
Over the 5-year term
Payment	$2,274.06	$1,601.62
Total paid	$136,444	$96,097
Interest paid	$84,509	$58,591
Principal paid	$51,935	$37,506
…of which, interest on the premium	$2,541	$0
True cost of the term	$97,064	$58,591
At renewal
Balance owing	$365,620	$322,494
Equity in the home	$84,380	$127,506
Interest over the full amortization	$264,662	$216,583
If you break after 2 years (rates down 0.5%)
Balance at that point	$398,108	$345,763
How the penalty is calculated	Interest rate differential (IRD)	3 months' interest
Three months’ interest	$4,319	$2,982
Interest rate differential (IRD)	$5,972	n/a
Estimated penalty	$5,972	$2,982
If prime moves (variable side only)
Interest over the term if rates drop 0.5%	—	$49,941
…if rates rise 0.5%	—	$67,279
…if rates rise 1%	—	$75,998
Payment if rates rise 1% (monthly equiv.)	—	$1,804.72

The fine print, honestly. These are estimates using standard Canadian lending rules (semi-annual compounding, CMHC premium tiers, GDS 39% / TDS 44%, the OSFI stress test). Lender policies, your credit profile and property details can change the picture — that’s the part a conversation covers.

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