Mortgage tracker
The mortgage tracker built for Canadian mortgages
You signed years ago. Almost everything that decides what this mortgage finally costs happens now — and almost every Canadian mortgage tool was built for the week before you signed.
Tracking starts where the calculators stop
A rate table and a payment calculator answer a question you asked once, in the weeks you were shopping. The mortgage then runs for a quarter of a century, and four things decide what it costs over that time. None of them was visible on the day you signed, and none of them is a calculation you do once.
- Reconciliation
- Whether the balance on the statement is the balance your own schedule expects, and what it means when it is not.
- Prepayment room
- How much you may pay down before the next anniversary, measured against the window your contract names rather than the calendar year.
- Trigger rate
- On a variable mortgage with a fixed payment, how far the rate can rise before the payment stops covering the interest.
- Renewal
- What the payment becomes at the rate you would actually be offered, worked out before the letter arrives rather than after.
Is your balance the balance your lender thinks it is?
Take a $520,000.00 mortgage at 4.79% over twenty-five years, paying $2,962.48 a month. Two and a half years in, $20,000.00 comes off the principal. Nothing about that is unusual — and the balance on the next statement still depends on something almost nobody discusses: whether the money is credited before or after that period’s interest is charged.
| When the prepayment is credited | Balance on the next statement |
|---|---|
| Before that period’s interest | $470,063.98 |
| After that period’s interest | $470,143.03 |
| The two ledgers differ by | $79.05 |
The gap is $79.05, which is exactly one period’s interest on the money — and that is what makes it a convention rather than a mistake. Both balances are defensible and neither party is doing anything wrong. Against a balance near $470,063.98 it is 0.017% of the figure, and it does not move the payoff month, so no summary line on a statement reveals it. Carried to the end of the loan the same difference is $212.91.
A schedule you keep notices it. This one is flagged from $1.01 of drift, and the gap above is about 78 times that — which is the whole distance between a number somebody is holding on to and a number nobody has checked since it was printed.
The room that expires while you are not looking
Your annual prepayment privilege does not reset in January. It resets on the anniversary your contract names, and whatever is unused by then is simply gone — there is no carry-forward and no reminder. A lender’s portal will not count it down for you, and a spreadsheet cannot tell which side of the anniversary a payment landed on.
What a tracker cannot do
- It does not arrange mortgages and takes no commission from any lender. The only money involved is the subscription you pay.
- Nothing here is ranked or recommended because somebody paid for it.
- It does not quote rates. Every figure is an estimate from assumptions stated on the page, not an offer, and your lender’s contract governs your mortgage.
- It says how far past your prepayment limit a plan would take you, and stops there. The charge depends on a contract term this app deliberately does not guess at.
- It is not a licensed professional, and none of it is advice.
Educational and informational only — not licensed mortgage, financial, legal or tax advice. Every lender's contract governs its own mortgage, and the figures here are estimates from stated assumptions rather than quotes. Confirm anything you intend to act on with your lender and a licensed professional.
The same engine, in English and in French
Every screen, every figure and every explanation exists in both languages, on the same arithmetic — not an English product with a translated menu. You can check that claim by switching the language on this page.
Start with the mortgage you already have
Put in the mortgage you signed, not a hypothetical one. The free calculators need no account at all.