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How much would I pay on a $750,000 mortgage?

Repayments, total interest and amortization to borrow with confidence.

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Tangerine Mortgages

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  • 5 year fixed rate from 2.14%
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If you’re ready to buy a home, you might wonder how to budget for your target home cost. Here’s a breakdown of what you might face monthly, in interest and over the life of a $750,000 mortgage.

Monthly payments on a $750,000 mortgage

At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $3,580.61 a month, while a 15-year might cost $5,547.66 a month.

Note that your monthly mortgage payments will vary depending on your interest rate, taxes and private mortgage insurance (PMI), among related fees.

Compare mortgages in Canada

Name Product Interest Rate (APR) Loan Term Min. credit score Provincial availability
Tangerine Mortgages
2.14%
5 Year Fixed Rate
620
All of Canada
Get competitive rates and make annual lump sum prepayments up to 25% of your original mortgage amount with a Tangerine mortgage.
Meridian Mortgages
2.29%
5 Year Fixed Closed Rate
600
ON
Meridian is a credit union that provides Ontario residents featured rates and the option to defer one payment every 12 months without penalty.
Homewise Mortgages
Varies
Varies
600
Not available in Quebec
Homewise's personal advisors can get you mortgage rates from over 30 banks and lenders.
Loans Canada Mortgages
1.79%
5 Year Fixed Rate
400
All of Canada
Loans Canada connects borrowers with a mortgage broker in their area. Bad credit, EI and CERB applicants are considered.
intelliMortgage Mortgages
1.42%
5 Year Fixed Rate
680
AB, BC, NL, ON, PE
intelliMortgage is an online mortgage broker that works with over 100+ banks and mortgage lenders across Canada.
Breezeful Mortgages
1.74%
5 Year Fixed Rate
600
All of Canada
Breezeful is a 100% online mortgage broker that connects borrowers to competitive rate offers from over 30+ banks and mortgage lenders.
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Your total interest on a $750,000 mortgage

On a 30-year mortgage with a 4% fixed interest rate, you’ll pay $539,022.85 in interest over the life of your loan. That’s about two-thirds of what you borrowed in interest.

If you instead opt for a 15-year mortgage, you’ll pay $248,578.60 in interest over the life of your loan — or about half of the interest you’d pay on a 30-year mortgage.

Amortization schedule

When you take out a mortgage, you agree to pay the principal and interest over the life of the loan. Your interest rate is applied to your balance, and as you pay down your balance, the amount you pay in interest changes.

Amortization means that at the beginning of your loan, a big percentage of your payment is applied to interest. With each subsequent payment, you pay more toward your balance.

Estimate your monthly loan repayments on a $750,000 mortgage at 4% fixed interest with our amortization schedule over 15 and 30 years.

YearBeginning balanceMonthly paymentTotal interest paidTotal principal paidTotal payed throught the yearRemaining balance
1$750,000.00$5,547.66$29,322.00$37,249.92$66,571.92$712,750.08
2$712,750.08$5,547.66$27,804.40$38,767.52$66,571.92$673,982.56
3$673,982.56$5,547.66$26,224.94$40,346.98$66,571.92$633,635.58
4$633,635.58$5,547.66$24,581.16$41,990.76$66,571.92$591,644.82
5$591,644.82$5,547.66$22,870.36$43,701.56$66,571.92$547,943.26
6$547,943.26$5,547.66$21,089.90$45,482.02$66,571.92$502,461.24
7$502,461.24$5,547.66$19,236.89$47,335.03$66,571.92$455,126.21
8$455,126.21$5,547.66$17,308.39$49,263.53$66,571.92$405,862.68
9$405,862.68$5,547.66$15,301.31$51,270.61$66,571.92$354,592.07
10$354,592.07$5,547.66$13,212.47$53,359.45$66,571.92$301,232.62
11$301,232.62$5,547.66$11,038.53$55,533.39$66,571.92$245,699.23
12$245,699.23$5,547.66$8,776.01$57,795.91$66,571.92$187,903.32
13$187,903.32$5,547.66$6,421.32$60,150.60$66,571.92$127,752.72
14$127,752.72$5,547.66$3,970.69$62,601.23$66,571.92$65,151.49
15$65,151.49$2,144.68$1,420.23$65,151.49$66,571.72$0.00
YearBeginning balanceMonthly paymentTotal interest paidTotal principal paidTotal payed throught the yearRemaining balance
1$750,000.00$3,580.61$29,759.61$13,207.71$42,967.32$736,792.29
2$736,792.29$3,580.61$29,221.48$13,745.84$42,967.32$723,046.45
3$723,046.45$3,580.61$28,661.48$14,305.84$42,967.32$708,740.61
4$708,740.61$3,580.61$28,078.63$14,888.69$42,967.32$693,851.92
5$693,851.92$3,580.61$27,472.04$15,495.28$42,967.32$678,356.64
6$678,356.64$3,580.61$26,840.74$16,126.58$42,967.32$662,230.06
7$662,230.06$3,580.61$26,183.72$16,783.60$42,967.32$645,446.46
8$645,446.46$3,580.61$25,499.93$17,467.39$42,967.32$627,979.07
9$627,979.07$3,580.61$24,788.29$18,179.03$42,967.32$609,800.04
10$609,800.04$3,580.61$24,047.64$18,919.68$42,967.32$590,880.36
11$590,880.36$3,580.61$23,276.82$19,690.50$42,967.32$571,189.86
12$571,189.86$3,580.61$22,474.60$20,492.72$42,967.32$550,697.14
13$550,697.14$3,580.61$21,639.70$21,327.62$42,967.32$529,369.52
14$529,369.52$3,580.61$20,770.78$22,196.54$42,967.32$507,172.98
15$507,172.98$3,580.61$19,866.46$23,100.86$42,967.32$484,072.12
16$484,072.12$3,580.61$18,925.28$24,042.04$42,967.32$460,030.08
17$460,030.08$3,580.61$17,945.78$25,021.54$42,967.32$435,008.54
18$435,008.54$3,580.61$16,926.36$26,040.96$42,967.32$408,967.58
19$408,967.58$3,580.61$15,865.42$27,101.90$42,967.32$381,865.68
20$381,865.68$3,580.61$14,761.24$28,206.08$42,967.32$353,659.60
21$353,659.60$3,580.61$13,612.10$29,355.22$42,967.32$324,304.38
22$324,304.38$3,580.61$12,416.10$30,551.22$42,967.32$293,753.16
23$293,753.16$3,580.61$11,171.43$31,795.89$42,967.32$261,957.27
24$261,957.27$3,580.61$9,876.01$33,091.31$42,967.32$228,865.96
25$228,865.96$3,580.61$8,527.80$34,439.52$42,967.32$194,426.44
26$194,426.44$3,580.61$7,124.69$35,842.63$42,967.32$158,583.81
27$158,583.81$3,580.61$5,664.39$37,302.93$42,967.32$121,280.88
28$121,280.88$3,580.61$4,144.62$38,822.70$42,967.32$82,458.18
29$82,458.18$3,580.61$2,562.92$40,404.40$42,967.32$42,053.78
30$42,053.78$3,580.61$916.79$42,053.78$42,970.57$0.00

Other mortgage amounts you might be interested in:

Bottom line

Buying a house is among the biggest investments you’ll make. Know how much you might pay each month on your $750,000 mortgage — including how much of your payment goes toward your interest over the principal — when shopping for a lender.

Learn more about how home loans work in our comprehensive guide to mortgages.

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