Mortgage Calculator

?
Enter the amount that you are planning on paying for the property
Property Value
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Option #1
Option #2
Option #3
Option #4
?
Enter the amount that you will pay upfront
toward the property to obtain a mortgage
Down Payment
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
Mortgage Insurance
+
$19,000
$13,950
$11,900
$0.00
?
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
Mortgage Required
=
$494,000
$463,950
$436,900
$400,000
?
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
Amortization Period
?
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
Select Province
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Mortgage Type
?
Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
Mortgage Term
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Mortgage Rate
?
Please select how often you would like
to make your mortgage payments.
Payment Frequency
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
Mortgage Payment
?
This is an estimate of how much you should expect
to spend upfront in order to make this purchase
Cash Needed
Down Payment
$25,000
$50,000
$75,000
$100,000
Mortgage Insurance PST
+
$0
Lawyer Fee
+
$1,000
$1,000
$1,000
$1,000
Title Insurance
+
$500
$500
$500
$500
Land Transfer Tax
+
Total Cash Needed
=
$28,020*
$52,616*
$77,457*
$101,500*
* Plus Land Transfer Tax, please select province to calculate Land Transfer Tax

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1.877.896.6727

Mortgage Calculator Examples

Brand New!!! 2021 Custom Guildcrest Built Bungalow On 1.3 Acres Of Land Features A 1452 Square Ft Main Floor With Luxury Flooring Throughout, Cathedral Ceilings Looking Out To A Beautiful View And Attached Double Garage. Highlighted By Smart Design And Quality Finishes, The Bright Open Living Space Has Soaring Ceilings, Large Windows With Views That Deliver Magnificent Sunsets, High-End Gas Fireplace, Custom Kitchen With Quartz Countertops All This To Create An Environment That's Sure To Impress. Three Main Floor Bedrooms With Large Closets And Large Windows With An Amazing View.**** Extras **** Propane Tank $125/ Year . Dishwasher, Stove , Culligan Systems ( Water Softener) , Washer, Dryer, Fridge, Microwave, All Electrical Lighting Fixtures . Hrv System. (Id:23934)
CALL1.877.896.6727
Property Price
$1,090,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$218,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$872,000
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$18,275
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$237,775
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$233,775
Monthly Payment
$3,735
Rare Offering By Motivated Sellers! 2 Storey Condo Townhouse In Applewood Heights. Near Transit / Shopping / Banks / Schools / Parks / Churches / Gostation / Costco / Walmart. Bright 2 Bedroom With Ensuite Laundry, Walk-In Shower& 2 Tandem Parking Spaces! Walk Out To Gated Courtyard-Perfect For Children To Play, Or Gardening, Or Entertaining. Quiet, Well-Established Neighbourhood With Parks & Bicycle Trails Nearby. Enjoy The South-Facing View Of Mississauga And Lake Ontario From Your Own Large, Private Balcony.**** Extras **** Fridge, Stove, Washer, All Electrical Lighting Fixtures, Broadloom Where Laid, Hot Water Tank (R~$50 / Mo With Electra) (Id:23934)
CALL1.877.896.6727
Property Price
$499,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,995
Mortgage Insurance ($)
$18,996
Mortgage Required ($)
$493,901
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,473
Mortgage Insurance PST
$1,520
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,488
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$30,488
Monthly Payment
$2,115
Your Search Ends Here! Absolutely Stunning 4 Bedroom Home Situated On A Large Corner Lot Backing Onto West Creek Trail. This Home Has Been Completely Reno'd Down To The Studs! Modern Eat-In Kitchen With Stainless Steel Appliances, Breakfast Bar & Stone Countertops. Open Concept Dining & Living Room. Tons Of Natural Light, Skylight & Wide Plank Oak Hardwood Flooring Throughout. Primary Bedroom With Walk-Out To Balcony, Walk-In Closet & 5Pc Ensuite. Main Floor Laundry Room With Access To Garage. Side Separate Entrance Leads To In-Law Suite With Kitchen, 2 Bedrooms, 4 Piece Bathroom & Separate Laundry. Income Potential From Basement! Huge Picturesque Backyard (Lots Of Space For A Pool & Trampoline), Mature Trees, New Sod, New Fence, New Concrete Walkway & Decks.**** Extras **** 2 Fridge, 2 Stove, Dishwasher, 2 Washer & 2 Dryer, All Elf. Hot Water Tank Owned. New Windows, Doors, Garage Doors, Furnace & Air Conditioner Have Been Updated New. New Electrical Wiring & Spray Foam Insulated Throughout. *Do Not Use Bathrooms, Water Turned Off* (Id:23934)
CALL1.877.896.6727
Property Price
$1,500,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$300,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,200,000
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$26,475
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$327,975
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$323,975
Monthly Payment
$5,140
Absolutely Adorable 2 Bedroom Home Located On A Quiet Family-Friendly Dead End St In Riverdale! Filled With Character & Modern Conveniences; Charming Front Porch, Fabulous Renovated Kitchen With Stainless Steel Appliances & Stone Countertops. Beautiful Sunny South-Facing Living Room With A Bay Window Overlooking Lush Backyard. Primary Bedroom Fits A King Size Bed & Large Built-In Closet. Recently Reno'd 2Pc Bathroom In Basement. Your Barbeque Dreams Delivered With Barbeque Gas Line & Huge Deck Perfect For Entertaining. Endless Possibilities With Backyard As Lot Extends Past The Deck. Tranquil Setting Amidst Every Urban Convenience: Mins Walk To Pape Subway & Withrow Park. Enjoy The Restaurants, Shops & All The Danforth Has To Offer! Truly A Lovely Home, Not To Be Missed.**** Extras **** Fridge, Brand New Induction Cooktop, Built-In Oven, Washer, Dryer , Elf, All Window Covering, Nest Thermostat. Owned Hot Water Tank. Permit Street Parking. (Id:23934)
CALL1.877.896.6727
Property Price
$899,900
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,990
Mortgage Insurance ($)
$33,396
Mortgage Required ($)
$868,306
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$14,473
Mortgage Insurance PST
$2,672
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$83,635
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$79,635
Monthly Payment
$3,719
Fabulous Rivercity Condos! You Must See These Incredible Views In This Sun-Filled Suite Features 9Ft Ceilings, Floor To Ceiling Windows, Modern Upgraded Finishes, Stone Counters,Hardwood Floors. State Of The Art Amenities With An Outdoor Pool & Fitness Room. Steps To King Streetcar & Walking Distance To The Distillery District, St Lawrence Market, Restaurants, Coffee Shops, Stores, Parks & Major Downtown Attractions. Minutes To Gardiner & Dvp**** Extras **** Stainless Steel(Fridge, Stove, Built-In Dishwasher, Built In Microwave), Washer / Dryer, All Electric Light Fixtures. One Bike Storage Space Included. (Id:23934)
CALL1.877.896.6727
Property Price
$525,000
Minimum Down Payment (%)
5.24%
Minimum Down Payment ($)
$27,500
Mortgage Insurance ($)
$19,900
Mortgage Required ($)
$517,400
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,975
Mortgage Insurance PST
$1,592
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$37,567
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$33,567
Monthly Payment
$2,216
Trendy Reno Loft Living In Sought After Queen West Triangle, Bright & Spacious 2 Bedroom Apartment, Approx. 650 Sf + Balcony. New Vinyl Flooring Th / O, Large Floor To Ceiling Windows, Exposed Concrete Ceilings & Ductwork. Open Concept Kitchen With Granite & Stainless Steel Appliances, New Backsplash. Enjoy Parks, Eateries, Nightlife, Grocery & 24Hr Ttc All In Walking Distance. On Site Fitness, Pool, Visitors Parking, Guest Suites & Pet Friendly. Mins To Core And Waterfront.**** Extras **** All Kitchen Appliances: Fridge, Stove, Dishwasher, Range Hood With Built In Microwave; Washer & Dryer, All Electric Light Fixtures. One Locker #18 On P3. Pls Note Floorplan Attached Does Not Include Any Cabinetry. (Id:23934)
CALL1.877.896.6727
Property Price
$659,900
Minimum Down Payment (%)
6.21%
Minimum Down Payment ($)
$40,990
Mortgage Insurance ($)
$24,756
Mortgage Required ($)
$643,666
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$9,673
Mortgage Insurance PST
$1,981
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$54,144
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$50,144
Monthly Payment
$2,757
Beautiful Brand New Freehold Townhome In The All New Emerald Crossing Project By Fieldgate Homes. This Spacious 3 Bed, 3 Bath Includes Hardwood Flooring Throughout, Smooth 9' Ceilings, Laundry On Second Level, Main Floor With Formal Combined Living / Dining, Gourmet Style Kitchen Combined With Breakfast Bar, Electrical Fireplace In The Living Room, And Plenty More Upgrades.**** Extras **** Tentative Occupancy Spring 2023. Last Appointment For Upgrades / Colour Selection Of Kitchen Cabinets / Flooring August 8Th, 2022!! (Id:23934)
CALL1.877.896.6727
Property Price
$1,199,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$239,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$959,920
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,473
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$261,953
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$257,953
Monthly Payment
$4,111
Move In And Enjoy This Beautifully Renovated 4 Bedroom Home With 2 Car Garage Situated On A Huge Private Corner Lot On A Small Cul-De-Sac & Backing Onto Open Park Area. Modern Eat-In Kitchen With Stone Countertops & Stainless Steel Appliances. Functional Open Concept Living Area With Large Window That Allows For Tons Of Natural Light Throughout. Back Entrance Leads To Basement With Bedroom & 3Pc Bathroom. Super Convenient Location Just Minutes To 401 & Public Transit. Family Neighbourhood And Walking Distance To Schools And Shopping.**** Extras **** Fridge, Stove, Dishwasher, Washer & Dryer And All Electrical Light Fixtures. (Id:23934)
CALL1.877.896.6727
Property Price
$899,900
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,990
Mortgage Insurance ($)
$33,396
Mortgage Required ($)
$868,306
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$14,473
Mortgage Insurance PST
$2,672
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$83,635
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$79,635
Monthly Payment
$3,719
Rare Premium Lot Home On A Quiet Cul-De-Sac, Backing Onto Ravine! Desirable Inspiration Community Famous For High Ranking Schools And Parks. Deep Pool Size Lot Fully Landscaped With Variety Of Mature And Rare Trees, Shrubs And Perennials. Home Is Recently Renovated, 9 Ft Ceil Crown Moulding On Main Floor, High End Upgrades, Huge Wardrobe Room With Own Laundry In Primary Suite Recently Finished Basement, New Bathrooms, Rough-In For Kitchen In Basement, Heated Floors Bathrm And Bedroom, Tons Of Storage, Large Interlock Patio, Hardwood And Smooth Ceil Throughout.**** Extras **** Gas Stove, Fridge, Range Hood, Bosh Dishwasher, All Window Coverings, All Chandeliers And Light Fixtures (Many With Chrystal), Central Vacuum And Attachments, Garage Door Opener With Remote, Gazebo, Samsung Washer And Dryer, All Built In Bookcases / Cabinetry (Id:23934)
CALL1.877.896.6727
Property Price
$2,349,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$469,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,879,920
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$45,223
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$516,703
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$512,703
Monthly Payment
$8,052
Opportunity Comes Knocking With This Fantastic Family Home In Booming Bradford! Functional Layout Including Sun-Filled Living Room With Hdwd Floors With Walk-Out To Deck, Pot Lights. Eat-In Kitchen With Stainless Steel Apps & Porcelain Floors, Finished Basement With Separate Entrance And Sauna, Offers Spacious Kitchen, Cozy Living Area. Extra Connection For Laundry On Ground Floor. Great Location Mins To Schools, Shops & Restaurants - A Rare Find! Rental Units In Basement. ** This Is A Linked Property.** **** Extras **** Fridge X2, Stove X2, Washer , Dryer, Electrical Lighting Fixtures, Wdw Covgs, Water Filter Under Contract, Roof - 3Y, Furnace -3 Y, Air Conditioner - 8 Y, Hot Water Tank Rented (Id:23934)
CALL1.877.896.6727
Property Price
$950,000
Minimum Down Payment (%)
7.37%
Minimum Down Payment ($)
$70,000
Mortgage Insurance ($)
$35,200
Mortgage Required ($)
$915,200
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$15,475
Mortgage Insurance PST
$2,816
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$89,791
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$85,791
Monthly Payment
$3,920
Live, Work, Play! Just Under 1 Acre, Gorgeous Property Steps To Bass Lake! Well Maintained Home With Spacious Principal Rooms In Sought After Neighborhood. New Huge (Approx.600 Square.Ft) Heated 60 Amp Workshop / Shop / Extra Garage! Large Deck Off Breakfast Area / Kitchen! Finished Basement With A 3 Piece Washrm, Large Laundry / Utility Room, Spacious Family Room And A Huge Bedroom (Above Grade Windows).**** Extras **** Existing Stove, Fridge, Built In Dishwasher, Washer And Dryer. New Generator. All Window Coverings And All Light Fixtures. Shed With Gas Heater And A Large Greenhouse For All Your Gardening Needs! (Id:23934)
CALL1.877.896.6727
Property Price
$1,199,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$239,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$959,200
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,455
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$261,755
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$257,755
Monthly Payment
$4,108
Home Awaits You At 587 Stevenson Rd! Fantastic Bungalow With Great Curb Appeal. Sitting On A 56 X 145 Ft Lot, The Backyard Is Lined With Beautiful Hedges For Great Privacy. This Home Has Pride Of Ownership Written All Over It. Great Floor Plan & Separate Rear Entrance To Home! 3 Large Bdrms, 4Pc Bath, Gorgeous Renovated Kitchen. The Basement Has High Ceilings And A Perfect Footprint For Bedrooms To Be Added. This Location Is Amazing With Schools And Shopping Right There.**** Extras **** Appliances: Fridge, Stove, Microwave, Dishwasher,Washer & Dryer, Built In Wall Desk In First Bedroom, All Window Coverings, All Light Fixtures. Custom Shutters And Blinds In Some Windows. All Wood Working Tools And Lights Not Included. (Id:23934)
CALL1.877.896.6727
Property Price
$699,999
Minimum Down Payment (%)
6.43%
Minimum Down Payment ($)
$45,000
Mortgage Insurance ($)
$26,200
Mortgage Required ($)
$681,199
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,475
Mortgage Insurance PST
$2,096
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$59,071
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$55,071
Monthly Payment
$2,918
London On The Esplanade! This Fabulous 1 Bedroom Unit (With Parking!) Features Floor To Ceiling Windows Offering Exceptional South Views With Views Of The Lake. Super Functional Layout With No Wasted Square Ft. Open Concept Living Area Flows Easily To The Kitchen With A Island Finished In Granite & Stainless Steel Appliances. Steps To Financial District, St. Lawrence Market, Union Station With Up Express, The Path, Berczy Park, Eaton Centre, Restaurants & More (You're Literally In The Heart Of It All!) Well Maintained Luxury Condo With Low Maintenance Fees & A Host Of Amenities To Fit Your Lifestyle. Gym, Library, Outdoor Pool, Outdoor Terrace With Barbeque's, Theatre Room, Guest Suites, Party Room, Billiards Room, Meeting Room, Yoga Studio, Steam Room & Concierge. Truly Downtown Living At It's Finest.**** Extras **** Fridge, Stove, Dishwasher, Full Size Washer & Dryer, All Electrical Light Fixtures, Window Coverings. 1 Parking & 1 Locker! (Id:23934)
CALL1.877.896.6727
Property Price
$599,900
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,990
Mortgage Insurance ($)
$22,596
Mortgage Required ($)
$587,506
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$8,473
Mortgage Insurance PST
$1,808
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,771
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$42,771
Monthly Payment
$2,516
Incredible City Living In The Heart Of Downtown! This 1 Bedroom + Den In The Harbour View Estates Features An Open Concept Layout With Floor To Ceiling Windows Allowing For Tons Of Natural Light. Separate Den Can Be Used As 2Nd Bedroom Or Great Home Office. Views Of The Cn Tower And Into The Rogers Centre From Your Large Balcony. Enjoy Over 30,000 Square Ft Of Amenities At The Popular Super Club Including A Pool, Sauna, Whirlpool, Steam Room, Fitness Centre, Cardio & Weight Rooms, Squash Court,Tennis Courts, Basketball Court, Golf Simulator. It's All Here!**** Extras **** Fridge, Stove, Dishwasher, Washer & Dryer, All Electrical Light Fixtures, All Window Coverings. 1 Locker Included. Maintenance Fee Includes Water, Heat & Hydro. Furniture Negotiable For Extra Cost. (Id:23934)
CALL1.877.896.6727
Property Price
$599,900
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,990
Mortgage Insurance ($)
$22,596
Mortgage Required ($)
$587,506
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$8,473
Mortgage Insurance PST
$1,808
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,771
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$42,771
Monthly Payment
$2,516
Home Awaits You At 587 Stevenson Rd! Fantastic Bungalow With Great Curb Appeal. Sitting On A 56 X 145 Ft Lot, The Backyard Is Lined With Beautiful Hedges For Great Privacy. This Home Has Pride Of Ownership Written All Over It. Great Floor Plan & Separate Rear Entrance To Home! 3 Large Bdrms, 4Pc Bath, Gorgeous Renovated Kitchen. The Basement Has High Ceilings And A Perfect Footprint For Bedrooms To Be Added. This Location Is Amazing With Schools And Shopping Right There.**** Extras **** Appliances: Fridge, Stove, Microwave, Dishwasher,Washer & Dryer, Built In Wall Desk In First Bedroom, All Window Coverings, All Light Fixtures. Custom Shutters And Blinds In Some Windows. All Wood Working Tools And Lights Not Included. (Id:23934)
CALL1.877.896.6727
Property Price
$699,999
Minimum Down Payment (%)
6.43%
Minimum Down Payment ($)
$45,000
Mortgage Insurance ($)
$26,200
Mortgage Required ($)
$681,199
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,475
Mortgage Insurance PST
$2,096
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$59,071
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$55,071
Monthly Payment
$2,918
Beautiful Sun-Filled 5+1 Bedroom Home In The Prestigious Cathedraltown Community. Energy Star Certified Home Built By Monarch In 2009. Situated On A Large Pool Sized Premium Lot. Functional Family Friendly Layout. Spacious Eat-In Kitchen With Stone Countertops, Breakfast Bar & Servery Area. Formal Living & Dining Room. Family Room Features A Fireplace & Looks Out Onto Huge Backyard. Primary Bedroom With 5Pcs Ensuite & Walk-In His / Her Closet. Custom European Front Door. Freshly Painted. Mudroom / Pantry With Access To Double Car Garage. Walk To Top Ranked School Sir Wildfred Laurier (French Immersion). Close To St. Augustine. Conveniently Located Minutes To 404, Schools, Park, Shopping, Angus Glen Community Center, Go Bus & More.**** Extras **** Fridge, Stove, Dishwasher, Washer & Dryer, All Electrical Light Fixtures, All Blinds. (Id:23934)
CALL1.877.896.6727
Property Price
$2,500,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$500,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$2,000,000
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$48,975
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$550,475
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$546,475
Monthly Payment
$8,566
Move In And Enjoy This Beautifully Renovated 4 Bedroom Home With 2 Car Garage Situated On A Huge Private Corner Lot On A Small Cul-De-Sac & Backing Onto Open Park Area. Modern Eat-In Kitchen With Stone Countertops & Stainless Steel Appliances. Functional Open Concept Living Area With Large Window That Allows For Tons Of Natural Light Throughout. Back Entrance Leads To Basement With Bedroom & 3Pc Bathroom. Super Convenient Location Just Minutes To 401 & Public Transit. Family Neighbourhood And Walking Distance To Schools And Shopping.**** Extras **** Fridge, Stove, Dishwasher, Washer & Dryer And All Electrical Light Fixtures. (Id:23934)
CALL1.877.896.6727
Property Price
$899,900
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,990
Mortgage Insurance ($)
$33,396
Mortgage Required ($)
$868,306
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$14,473
Mortgage Insurance PST
$2,672
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$83,635
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$79,635
Monthly Payment
$3,719
Welcome Home To This Bright & Spacious 1+Den Condo Conveniently Located Next To Leslie Subway Station! Functional Layout With Large Den That Can Be Used As Home Office Or 2Nd Bedroom. 9Ft Ceiling & Floor To Ceiling Windows Allowing Lots Of Natural Light.Rare 2 Full Bathrms. Boutique & Intimate Building With Only 11 Storeys. Great Amenities Include: Gym / Exercise Room, Pool, Common Rooftop Deck & Concierge. Close To Bayview Village, Ikea, Hwy 401 And Dvp / 404.**** Extras **** Fridge, Stove, Dishwasher, Washer, Dryer, All Existing Light Fixtures. (Id:23934)
CALL1.877.896.6727
Property Price
$599,900
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,990
Mortgage Insurance ($)
$22,596
Mortgage Required ($)
$587,506
Best Mortgage Rate (%)
2.10%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$8,473
Mortgage Insurance PST
$1,808
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,771
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$42,771
Monthly Payment
$2,516

Mortgages In Canada

What Is A Mortgage Calculator?
Simply put, a mortgage calculator is like a manual calculator with the exception that it is automated and found on many bank, credit union, and third party websites on the Internet. A mortgage calculator can be used by anyone for free and multiple times, of which this calculator determines the outcome when specific mortgage related information is entered. As you will quickly discover, there is a basic mortgage calculator that requires minimal information, such as the dollar amount of the total mortgage (including any down payment made & mortgage default insurance if warranted), the number of months or years the mortgage will be carried, and the interest/mortgage rate.
The calculation will provide a basic payment amount, and you will see how making a down payment (not to mention the interest rate) affects the outcome of the calculation. By using the mortgage calculator more than once and 'playing with the numbers', you will get a better sense of how certain scenarios can raise or lower your payments (shortening and lengthening the number of years before the mortgage will be paid off in full with interest can really be an eye opener).
What Exactly Is A Mortgage Rate?
A mortgage rate or an interest rate is basically the percentage charged up and over the amount of money you need to borrow, so in other words, it is what the lender charges you for loaning you the money. Mortgage rates can differ between lenders and yes, it is financially ideal to get the lowest mortgage rate possible, but there are certain aspects that need to be in place to get that lower rate.
There are two basic types of borrowers: the people that are financially stable & prepared to take on a mortgage (typically these people are offered a lower rate to gain their business), and the people that are less prepared financially to take on a mortgage (typically these people are offered a higher rate to offset any risks to the lender). There are various types of lenders (such as major banking institutions) who can offer lower mortgage rates and private lenders who deal in high risk mortgages and offer higher mortgage rates.
Why Are There So Many Different Types of Mortgages?
Each mortgage type/product performs differently, and they are all designed to work hard for both the lender and the borrower’s personal financial situation. Just as borrowers themselves vary, so do the kinds of mortgages that are offered by lenders. There are mortgages that are designed to work well for people that have already held & paid off a mortgage or are currently paying on a mortgage, and then there are mortgage types that are designed for first time mortgagees.
The top three most popular mortgages are a fixed rate mortgage (the interest rate is ‘fixed’ for an agreed-upon set term of time), a variable rate mortgage (the interest rate is dictated by the prime rate, with any changes reflecting on the principal, not the fixed payments), and an adjustable rate mortgage (the interest rate is dictated by the prime rate; any changes reflect on the payments which are ‘adjusted’).
There is also a hybrid mortgage (or a 50/50 mortgage), which combines a fixed rate & variable rate mortgage together. Learning about all the mortgage types available (through a mortgage professional) provides borrowers with an upper hand to make sound decisions.
Mortgage Terminology
You are not the only one who may find certain terms regarding mortgages a bit head-spinning, so let’s clear up some of the basic wording that you will see when diving into the mortgage market.
Amortization Period
The total number of months or years it will take for you to completely pay off your mortgage.
Amortization Schedule
The breakdown of the payments for your mortgage (how much you pay, how much of that goes towards the principal amount, how much goes towards the interest, and the balance remaining).
Mortgage Term
The length of time that the interest rate is set or fixed; the end of this term is when the mortgagee can renegotiate a new mortgage or pay the balance of the mortgage in full.
Mortgage Renewal
When the term of your mortgage comes to an end, you will have the option to discuss the possibility of a new mortgage, its terms, and its interest rate.
Mortgage Refinancing
The act of switching to a new lender to arrange a new mortgage or to renegotiate an existing mortgage.
Mortgage Prepayment
There are mortgage 'deals' that are sweetened by the ability to either double up on payments, increase the percentage paid on monthly payments, or pay off a certain percentage of the principal annually (without any penalty).
Closed Mortgage
When a mortgage is closed, this means that the mortgage rate and the mortgage contract are locked in and non-negotiable for a set period of time.
Open Mortgage
With no worries of any penalties and being completely flexible with no set term, you can pay off your mortgage at any time with this type of mortgage.
Mortgage Insurance
This is a specific type of insurance which protects the lender in the event you should default on your mortgage for any reason (typically mortgage insurance is required if a borrower is deemed a higher risk and is only offered a high ratio mortgage).
Down Payment
Generally, a borrower must have saved a down payment to invest in the home/property upfront (the down payment cannot be borrowed), of which the payment itself is the monetary difference between the value of the mortgage loan and the purchase price of the home/property.
Home Equity Line of Credit (HELOC)
Tied directly to a mortgage, borrowers can sometimes gain access to a certain percentage of funds to borrow against the assessed value of the home/property. There is an interest rate imposed onto this type of loan, not to mention that it is set to keep pace with the prime rate, but there is flexibility as to payments and payoff.
Mortgage Maturity
This is the date that your mortgage term ends, presenting you with the option to pay off the mortgage in full, or renew your mortgage for another term.
Mortgage Affordability
The concept of a lender considering your ability (or affordability) to be able to pay a mortgage monthly via the total household income, the mortgage payments, and monthly expenses/overhead.
Mortgage Principal
This is the amount left outstanding on the mortgage itself.