Repayments on a $600,000 home loan — Canada

At 5% over 30 years:

• Monthly repayment: $3,221
• Total interest: $559,535
• Total repaid: $1,159,535
• Paying $200 extra a month saves: $79,874 and 3 years

Frequently asked questions

What are the repayments on a $600,000 mortgage?

At 5% over 30 years, about $3,221 a month. Over the full term you would pay roughly $559,535 in interest on top of the $600,000 borrowed.

How much interest do you pay on a $600,000 loan?

About $559,535 over 30 years at 5% — bringing the total repaid to around $1,159,535.

What if I pay a bit extra each month?

Adding $200 a month would save about $79,874 in interest and clear the loan roughly 3 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.