British Columbia 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
Select
Select
Select
Select
STEP 3
Select one of the mortgage
rates currently available
?
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
$0
$0
$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 British Columbia city to calculate Land Transfer Tax

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

British Columbia Mortgage Calculator Examples

Charming 2,070Sqft Split Level 3 Bed, 3 Bath Home With Recent Modern Reno's. New Island Kitchen With White Cabinetry, Stone Counters & An Abundance Of Storage. Updates Included New Flooring, Fresh Paint & Added Patio Space With Access From The Dining Room By A New Slider. Home Has Been Re-Plumbed & Offers A Newer Roof & Updated Furnace. Comes With 2 Cozy Gas Fireplaces, One In Main Living Room & Another One In Sunken Living Room. All Of This Situated On A Huge 18998 Square Ft Lot. Great Location - Falling In The North Otter Elementary & D.With Poppy Secondary School Catchments. One Min Away From Krause Berry Farms With Quick Access To Highway 1 Exits 232 & 264. Great Investment For Your Family. Buy And Hold As The Community Develops, All While Living In An Amazing House. Call Today For Your Private Viewing! (Id:23934)
CALL1.877.896.6727
Property Price
$1,499,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$299,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,199,200
Best Mortgage Rate (%)
1.64%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$27,980
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$329,280
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$329,280
Monthly Payment
$4,872
Prime Location! Come Check Out This Beautiful, Concrete 2 Level, Corner Unit Townhouse With 2 Bedrooms, Larger Master Bedroom With Ensuite Attached. 2 Full Baths, 1 Half Bath/ Powder Room On Main Floor. Located Minutes To Transit, Shopping. Very Well Designed With Granite Countertops, 9 Foot Ceiling, Upgraded Stainless Steel Appliances, Gas Fireplace. Steps Away From Restaurants, Schools, Bcit, Starbucks Coffee, Banking (Td), Solo District And The New Brentwood! Well-Maintained Home Comes With Two Parking Spots, Plus Additional Gated Guest Parking. One Storage Locker. Pets Allowed. Only A Minute Drive Hwy-1. 15 Minutes To Anywhere! Moscrop Secondary School And Cascade Heights Elementary, Lots Of Parks And Trails To Enjoy At Your Doorstep. Mountain Views From Second Bedroom. Showings By Appointment. Open House Saturday 1Pm To 4Pm (Id:23934)
CALL1.877.896.6727
Property Price
$799,000
Minimum Down Payment (%)
6.87%
Minimum Down Payment ($)
$54,900
Mortgage Insurance ($)
$29,764
Mortgage Required ($)
$773,864
Best Mortgage Rate (%)
1.64%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,980
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$70,380
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$70,380
Monthly Payment
$3,144
Noura Homes-Sophisticated Custom Single-Family Homes In Burke Mountain. Designer Kitchens With Huge Island, Quartz Counters, Optional Spice Kitchen & Plenty Of Storage. Work Kitchen Available. Sprawling Dining Area & Exceptional Family Room With Built-In Entertainment Center, Sleek Gas Fireplace& High Ceilings. 4 Bedrooms And Three Bathrooms Up With Large Master , Walk-In Closet & Luxurious Ensuite. Downstairs Provides A Recreation / Media Room, 2 Bedrooms Legal Suite With Separate Entrance & Laundry. Endless Customization Options! Pls Contact To View, Won't Last Long. Call 778-987-7180 Today!!! (Id:23934)
CALL1.877.896.6727
Property Price
$1,958,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$391,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,566,400
Best Mortgage Rate (%)
1.64%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$37,160
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$430,260
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$430,260
Monthly Payment
$6,364
Amazing Non-Strata West Facing End Unit Row Home At Webster Crossing On Driftwood! Almost Brand New! This 3 Bed / 3Bath Gem Comes With An Open Kitchen Design, Stylish White Shaker Cabinets, Quartz Counters, Upgraded Stainless Steel Appliance Package & Gas Range! Living Room With Electric Fireplace & Built In Bookshelves. Features: 9" Ceilings On Main Level, Vaulted Ceilings, Ensuite With Dual Vanities, Heated Tile Floors, Glass Walk In Shower, Heated Tile Floors Entry Level & Den! Enjoy Sunsets & Entertaining Guests Year Round On Your Large Covered Patio With Gas Hook-Up! Located Steps From The Vedder River Trail, Webster Park, Garrison Village, Unsworth Elementary & Ufv Campus. Special Dog Wash Area! Double Car Garage & Full Driveway. Https://Www.Youtube.Com / Watch?V=Fxx1sgodlfw&Feature=Youtu.Be (Id:23934)
CALL1.877.896.6727
Property Price
$649,900
Minimum Down Payment (%)
6.15%
Minimum Down Payment ($)
$39,990
Mortgage Insurance ($)
$24,396
Mortgage Required ($)
$634,306
Best Mortgage Rate (%)
1.64%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$10,998
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$52,488
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$52,488
Monthly Payment
$2,577
Great Opportunity For The Developers! Huge Potential For A Large 12,632 Sf Corner Lot. The City Suggests A Mid-Rise Multi-Family Project Which Would In Line With The Surrounding Area. Peacefully Backing Onto Ravine Park And Strategically Located Just Minutes From The South Fraser Hwy, Shopping, Restaurants, Recreation, Mill Lake, And More. Solid 2160 Square Ft Rancher With A 2 Bedroom (Unauthorized) Suite. Buy And Develop Now Or Rent The Home Out For Cash Flow For Now And Develop It When Ready In The Future. (Id:23934)
CALL1.877.896.6727
Property Price
$1,790,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$358,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,432,000
Best Mortgage Rate (%)
1.64%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$33,800
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$393,300
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$393,300
Monthly Payment
$5,818

Mortgages In British Columbia

With a province-wide motto of 'Splendor Without Diminishment', you just know that British Columbia is proactive in its preservation of nature, wildlife & natural environments... and that is just the start to this amazing province! Armed with sky-high mountainous adventures & scenic beauty, over 27,000 KMs of coastline, numerous rivers & parks, and home to the world's longest hiking trail, you'll know that this province is loaded to the brim with exploration, excitement, adventures, and economic stability! A vastly diverse collection of realty awaits home buyers that want to embrace this family-enriching province. With a mortgage loan in mind, home buyers can try out the British Columbia mortgage calculator to find out a monthly payment on any given home/mortgage loan principal amount. Home buyers have a great set of tools (via a mortgage calculator & mortgage related calculators) that show how each component of a mortgage loan (principal, interest rate, duration of loan, start date, payment frequency & more) comes together to derive that monthly payment amount. The mortgage product of choice and the interest rate percentage agreed to is how a mortgage loan is formulated. Getting to know about mortgage products (there are many) and how lenders can critique one to fit a borrower's finances is good information to understand before moving forward.
Whether a cottage, a condo, a cozy little bungalow, a large estate, or an executive townhome is the target for your new home in British Columbia, a mortgage calculator will get you started on the right track, especially for first time home buyers. The basics of mortgage products are not too difficult to learn about, even when you are familiar with the four main ones that are the most popular. Taking first place for many home buyers is a fixed rate mortgage that, for a set term, will lock in your agreed-to interest rate (this is a safer option for buyers who do not want to risk their interest rate jumping up or down unexpectedly). The next most popular type of mortgage is a variable rate mortgage, which keeps in step with the prime rate (if the prime rate moves, so does your interest rate, but the change will be directed at your principal loan amount, so no changes in the monthly payment). An adjustable rate mortgage is 'adjusted' after steady monitoring of the prime rate (if the prime rate moves, your interest rate will move with the prime rate and it WILL alter your monthly payment amount). Some home buyers prefer their mortgage split into two (called a hybrid mortgage) with application of both a variable rate mortgage and a fixed rate mortgage.
There are more mortgage products available that are more specialized for your new home in British Columbia, such as a conventional mortgage which is reserved for those borrowers that have a minimum of a 20% down payment (an advanced mortgage calculator can work that out for you). A convertible mortgage is a great option for borrowers that qualify for its perks and flexibility (switching up from a variable rate to a fixed rate mortgage or change the length of a term without any penalty). There are other mortgage product types that are designed to work for home owners or previous mortgages (home equity line of credit, portable mortgage, reverse mortgage & collateral mortgage). A lender can offer you a closed mortgage (locking in the mortgage terms & conditions with penalties if altered, like early payoff), or an open mortgage (more flexible with terms & conditions like lump sum payments without penalty). Another aspect of mortgages that a borrower should consider up front is if the lender deems the borrower to be a high ratio mortgage... then the mortgage loan default insurance will be another necessary expense for the borrower (a high ratio mortgage is usually imposed when there is little-to-no down payment availably saved up by the borrower).