Skip-a-Payment True Cost Calculator Skip Payment
See the real cost of skipping mortgage payments. Interest keeps compounding while you pause — this calculator shows the added balance, increased payments, and extra months on your mortgage.
Skip-a-Payment True Cost Calculator
See the real cost of skipping mortgage payments. Interest keeps compounding while you pause — this calculator shows the added balance, increased payments, and extra months on your mortgage.
Current Monthly Payment
$2,443
Added to Balance
$4,762
New Balance After Skip
$404,762
New Monthly Payment
$2,489
Payment Increase
$45
Extra Months Added
9
Total Extra Cost
$26,752
Interest compounds during skipped months. Most lenders add accrued interest to your principal. Uses Canadian semi-annual compounding.
All calculations use Canadian semi-annual compounding per the Bank Act. These results are estimates for educational purposes only and do not constitute financial advice. Speak with a licensed mortgage broker for advice specific to your situation.
API Access for Developers & AI Agents
This calculator is available as a free JSON API. AI agents, chatbots, and developers can send mortgage data and get instant results.
POST /api/calculate/skip-payment
{
"balance": 400000,
"rate": 4.79,
"remainingAmort": 22,
"skippedMonths": 3
}
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