
Mortgage Payment Calculator
Mortgage Payment
Whether you’re thinking about buying a new home, getting a home equity loan or line of credit, or refinancing an existing Mortgage, our Interactive Mortgage Calculators will allow you to explore your Mortgage options to make the right home financing decision.
How to Use Our BC Mortgage Payment Calculator: Step-by-Step Guide
Making smart financial choices starts with knowing what you can realistically afford. Realizing this, we at Asim Ali Mortgage offer you multiple calculators. We also have a calculator dedicated to calculating your mortgage payments.
If you are from British Columbia, then you should definitely use our BC Mortgage Calculator. Our simple and easy-to-use interface allows you to carry out complex calculations effortlessly.
Try the BC Mortgage Payment Calculator Now
We also provide you with detailed reports of your calculations as well. Instead of just reading about it, we encourage you to go ahead and use it.

How to Calculate Mortgage Payments with BC Mortgage Calculator?
Our BC Mortgage Calculator is very straightforward. Simply follow these steps:
1. Enter Your Mortgage Amount
You can simply slide the bar or type the amount you need to borrow. It will then show how much money you’re borrowing. In this case, the amount is CAD 200,000.
2. Set the Mortgage Amortization
This is how many years it will take to pay off the whole loan. In the image, it’s 20 years. You can pick between 1 and 35 years.
3. Choose Your Mortgage Term
It is how long your current deal with the lender lasts. For example, in the image, it’s 1 year. After this term ends, you can renew or change your deal, but your full loan continues unless fully paid.
4. Pick the Payment Type
Now, choose how often you’ll pay. The most common option is monthly, like paying once every month.


5. Set the Interest Rate
This is how much extra the bank charges you for lending the money. In this case, in the image, it’s 10%.
6. Check Your Monthly Mortgage Payment
Once everything’s filled in, the calculator shows your monthly payment. For example, $1,903.33 per month.
7. See the Graph and Totals
The graph also shows how much goes to interest (dark blue) vs principal (light blue).
- Total Payments: $456,798 – how much you’ll pay over 20 years.
- Total Interest: $256,798 – this is just the extra cost from interest!
8. Reports
This gives a breakdown of how much you pay toward interest vs principal each time. You can choose to see a detailed report every year or by each period (like every month) by selecting “Annually” or “By period“.
How to Read BC Mortgage Calculator Reports?
Once you click the “View Report” button, your report will automatically appear. This report shows you everything, like:
- How your mortgage will work over time
- The amount you need to pay
- Cumulative interest
- The amount you need to pay off the actual loan (called principal)
- How the balance goes down year after year.
Here’s a detailed explanation of our BC Mortgage Calculator Reports:


Your Monthly Mortgage Payment
Your payment is $1,903.33 monthly for 20 years. You’ll have to pay this same amount every month for 20 years. It is based on a 10% interest rate. This payment never changes, assuming the interest rate stays the same.
Bar Graph: Total Payments Breakdown
The graph shows how that money is split:
- Dark Blue = Interest
- Light Blue = Principal (the actual house loan)
Total Payments = $456,798 → This is how much money you’ll pay in total over 20 years.
Total Interest = $256,798 → That’s how much extra you’re paying the bank just for borrowing.


Ready to Calculate Your Mortgage Payments in BC by Yourself?
At Asim Ali Mortgage, we strive to make things easier for you. If you have any questions or concerns regarding our BC Mortgage Calculator or any other one of our calculators, please don’t hesitate to reach out.