Your first year, at a glance
Explore how principal repayments, reborrowing and interest could fit together over a first year. Adjust the assumptions to understand the mechanism. This educational illustration does not confirm eligibility, a tax deduction or a future outcome.
Your first year, in numbers
See how the principal repaid on your mortgage could be borrowed again to invest, over 12 months.
After 12 months
Illustrative example, not a personalized recommendation.
Illustrative example, not a personalized recommendation. Monthly mortgage payment: $1,744.81. Remaining mortgage balance: $293,768.23. Credit line balance borrowed to invest: $6,231.77. Total debt after 12 months: $300,000.00. Credit line interest over 12 months: $169.85.
- Monthly mortgage payment
- $1,744.81
At the start: mortgage only
After 12 months
- Remaining mortgage balance
- $293,768.23
- Credit line balance borrowed to invest
- $6,231.77
- Total debt after 12 months
- $300,000.00
- Starting total debt
- $300,000.00
Mortgage + credit line = starting total debt. The composition of your debt changes; it does not decrease in this simulation.
- Credit line interest over 12 months
- $169.85
Paid separately, on top of mortgage payments. This interest requires extra cash and is not added to your debt.
All amounts are in Canadian dollars, rounded to cents for display only.