Filling out your mortgage info in AdviceCafé

The Mortgage section is where you add your mortgages (e.g. your house, a rental property, cottage, etc.)

The fields in the Mortgage section include:

Mortgage type

• Traditional - a mortgage that typically has a fixed term (i.e. 3 - 5 years) and a fixed or variable interest rate. Part of the mortgage payment goes toward the principal and part goes toward the interest.
• All-in-one - a mortgage account that acts as a large line of credit. It combines the line of credit with personal banking accounts, and debt into an all-in-one account.

Home value

• The home value is the current value of your home, which is your best estimate based on what you think you might be able to sell it for in your current market.

Home balance

• The home balance is the current balance left on your home.

Payment & payment frequency

• The payment is your mortgage payment and how frequently you make that payment.

Interest rate

• The percentage charged on a mortgage that must be paid in addition to the mortgage balance. If your rate is variable, just enter the current rate you’re paying.

Interest type

• Fixed - a set interest rate for the current term of the mortgage.
• Variable - an interest rate that fluctuates at a level above a specific benchmark or reference rate of the market.

Original amortization

• The time period over which regular payments would pay off your mortgage and interest in full before its maturity date (typically assumes the same interest rate and payment amount).

Renewal Date

• The date when your current term comes to an end, and you sign on for a new term. Or, you’re on your last term and it’s the date you pay off your mortgage! 🍾

Updated on: 25/02/2026