An amortization calculator is a financial tool that helps you calculate your monthly mortgage payments, breaking them down into principal and interest over the life of your loan. Unlike other countries, Canadian mortgages are compounded semi-annual and offeres various payment frequency options such as monthly, bi-weekly, weekly, accelerated bi-weekly and accelerated weekly. This amortization calculator is specifically designed to accommodate these distinct features, allowing Canadian homebuyers to accurately plan their budgets, compare different mortgage products, and understand the impact of prepayments on their loan, ultimately aiding in making informed financial decisions.