Repayments on a $500,000 home loan — Canada

At 5% over 30 years:

• Monthly repayment: $2,684
• Total interest: $466,279
• Total repaid: $966,279
• Paying $200 extra a month saves: $77,470 and 4 years

Frequently asked questions

What are the repayments on a $500,000 mortgage?

At 5% over 30 years, about $2,684 a month. Over the full term you would pay roughly $466,279 in interest on top of the $500,000 borrowed.

How much interest do you pay on a $500,000 loan?

About $466,279 over 30 years at 5% — bringing the total repaid to around $966,279.

What if I pay a bit extra each month?

Adding $200 a month would save about $77,470 in interest and clear the loan roughly 4 years earlier.

See interest-only repayments on the same loan

Estimate only. Assumes a fixed rate and no fees; lenders accrue interest daily and may charge account or discharge fees. Not financial advice.