Welcome to Understand My Mortgage

Helping you make sense of your mortgage and your personal finances.

Taking out a mortgage can leave you financially violated. It's a big commitment and it's hard to know if you're getting a good deal. It's also hard to know how much it's going to cost you in the long run and most brokers and banks are not clear about this.

For example, did you know that a 1% increase in your interest rate could cost you an extra $100,000 over the life of your mortgage?

Or that buying a $400,000 home, even with a $100,000 deposit, could cost you over $280,000 just in interest payments over the life of your mortgage?

Let's see how much your mortgage could cost you and help you get clarity on your personal finances.

Currency:

What's your name?

What's your email address?

Are you a first time buyer?

Yes No

Enter your property value

Enter your deposit amount

Enter your loan term (in years)

Are you on a fixed rate or variable rate?

Variable Fixed

Enter your interest rate

Enter your introductory interest rate

Enter your introductory rate term (in years)

Enter the interest rate for the rest of the mortgage term