Personalized Mortgage Report

August 07, 2023

Mortgage details

Payments

$786 weekly

Mortgage amount Final mortgage length

$419,000 17 years 2 YEARS, 11 MONTHS FASTER

Interest rate / Type of mortgage

6.64% / 4 year closed

Amortization graph

Amortization schedule
Years Payments made Interest paid Principal paid Balance

Year 1 $40,854.57 $26,869.77 $13,984.80 $405,015.45

Year 2 $40,854.57 $25,928.46 $14,926.11 $390,089.59

Year 3 $40,854.57 $24,923.78 $15,930.79 $374,159.05

Year 4 $40,854.57 $23,851.49 $17,003.08 $357,156.22

Year 5 $40,854.57 $22,707.01 $18,147.56 $339,008.91

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Personalized Mortgage Report
August 07, 2023

Years Payments made Interest paid Principal paid Balance

Year 6 $40,854.57 $21,485.44 $19,369.13 $319,640.03

Year 7 $40,854.57 $20,181.73 $20,672.84 $298,967.44

Year 8 $40,854.57 $18,790.21 $22,064.36 $276,903.33

Year 9 $40,854.57 $17,305.09 $23,549.48 $253,354.10

Year 10 $40,854.57 $15,719.95 $25,134.62 $228,219.73

Year 11 $40,854.57 $14,028.18 $26,826.39 $201,393.59

Year 12 $40,854.57 $12,222.45 $28,632.12 $172,761.72

Year 13 $40,854.57 $10,295.19 $30,559.38 $142,202.59

Year 14 $40,854.57 $8,238.17 $32,616.40 $109,586.44

Year 15 $40,854.57 $6,042.77 $34,811.80 $74,774.89

Year 16 $40,854.57 $3,699.59 $37,154.98 $37,620.16

Year 17 $38,821.21 $1,200.81 $37,620.40 $0.00

Totals $692,494.33 $273,490.09 $419,004.24 $0.00

Legal

Mortgage length is the time it would take to repay your mortgage in full. This is also known as the amortization period. The starting
mortgage length is the amortization period at the beginning of your mortgage term.
Calculation results are approximations based on the data you have entered and for illustration purposes only and are not intended to
provide financial advice. Scotiabank does not make any representations or warranties with respect to the calculation results. Rates quoted
are not considered as rate guarantees. The Calculator assumes interest is compounded semi-annually, not in advance. The calculations
assume all payments are made when due. Calculations assume that the interest rate would remain constant over the entire amortization
period, but actual interest rates may vary over the amortization period Making weekly/bi-weekly payments will have the effect of making an
extra monthly payment every year and will shorten your amortization. Some conditions apply.
If you are a Scotiabank mortgage customer, depending on the mortgage solution that you select, each year you can increase your
scheduled monthly payments by up to 10%, 15% or 20% of the payment initially set for your term (or in some cases, your current payment)
and make a lump sum prepayment of up to 10%, 15% or 20% of your original principal amount without incurring a prepayment charge. If
you have a mortgage with another lender, your prepayment options may be different. Please refer to your mortgage documents for details
on your prepayment options.
This is not a quote. Mortgage insurance estimate is for illustration purposes only as premiums are dependent on your age, number of
borrowers and type of coverage. Includes applicable insurance provincial taxes. Eligibility conditions apply. A sample Certificate of Insurance
is available on scotiabank.com/insurance.

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