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 Examples

Beautifully Renovated Property In The Desirable Cape Horn Community! This Huge 9,200Sf Lot Offers Stunning Views Of The Fraser River, Equipped With A Large Deck Ideal For Summer Entertainment. The Fully Finished Basement Has It's Own Separate Entrance Is Perfect For Those Looking For A Mortgage Helper! Walking Distance To Cape Horn Elementary And Montgomery Middle Schools! Close To All Restaurants And Shopping! This Updated Home Is Very Livable. It Is A Great Holding Property, Or Can Be A Further Renovation Project, And Even Suitable For Building Your Own Dream Home On This Large 9,240Sf Lot! Adjacent Property 153 Montgomery Is Also Listed. There Is Potential For Re-Zoning The 2 Lots Into 3. (Id:23934)
CALL1.877.896.6727
Property Price
$918,800
Minimum Down Payment (%)
7.28%
Minimum Down Payment ($)
$66,880
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$16,376
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$84,756
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$84,756
Monthly Payment
$3,965
5 Acres-Central Location-Immaculate 2 Bedroom Rancher Just Under 1400Sf With Outstanding Renovation - Plus Unfin Basement To Develop Into 3Rd Bedroom And Games-Indoor Riding Arena-9 Stall Barn-6 Turnouts With Shelters-Exercise Track-2 Stall Mare Barn-Electronic Gates Lead You To Picturesque Home With Cedar Board And Batton And River Rock Finish And Amazing Wrap Around Deck Complete With Wood Burning F / P Surrounded By Lush Grash And Easy Care Garden Beds.Inside Features Gourmet Kitchen With Granite,Gas Range And High End Appls,Vaulted Ceilings,Large Wood Sash Windows, Large Living Room With Gas F / P And Room For Wet Bar And Access To Back Deck And Veranda, New Bathroom, 2 Main Floor Bdrms Plus Huge Flex Room Down For Bedroom, Gym Or??Corner Property With High Cedar Privacy Hedge.Move Right In!Below Replacement (Id:23934)
CALL1.877.896.6727
Property Price
$2,049,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$409,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$39,470
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$450,770
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$450,770
Monthly Payment
$7,335
Beautiful Home In Sought After Community With Trails, Daycare, Coffee Shop And Elementary School Within The Community. Attention To Detail Can Be Seen Through Out This Well Crafted Home. Upon Entrance You'll Find A Large Foyer And Den. A Chef Like Kitchen With Pantry, Great Room, Dining Room And A Mudroom For All Of Your Outdoor Gear. There Is Also A Large Covered Deck, Great For Entertaining. Upstairs You'll Find 4 Large Bedrooms, 3 Of Them With Walk In Closets And En-Suites. In The Basement There Is A Large Recreational Room With A 3 Piece Bathroom And A 2 Bedroom Legal Suite. Call Today To View This Beautiful Home! (Id:23934)
CALL1.877.896.6727
Property Price
$1,078,800
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$215,760
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$19,576
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$236,836
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$236,836
Monthly Payment
$3,862
The Perfect Home & Perfect Setting! Nothing To Do But Move In To This Bright, Airy And Open Townhome In Ultra Desirable Greentree Village. Beautifully Renovated With Fully Professionally Opened Kitchen Area With Newer Appliances, Cabinet Doors, Fixtures & Countertops. Real Solid Oak Hardwood Floors Throughout Main & Upper Floors. All New Carpet In Basement With Generous Size Laundry / Utility / Storage Areas. New 50 Gal H / With Tank. This Home Shows & Feels Great Inside, Offering Views Toward Greenbelt Over Private Yard! Fresh Interior Paint Throughout, New Fixtures & Hardware, Fireplace Surround & All Details Clean And Tidy. Newer Roof. Location & Setting Can't Be Beat! Excellent Development With Pool & Recreation Facility. Open House Sunday Aug 25 1-3Pm. View The 3D Interactive Walk Thru Tour! Easy To View & Love! (Id:23934)
CALL1.877.896.6727
Property Price
$759,900
Minimum Down Payment (%)
6.71%
Minimum Down Payment ($)
$50,990
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,198
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$65,688
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$65,688
Monthly Payment
$3,299
Brand New (Gst Paid), Modern 2 Story Home Providing 1775 Square Feet Of Premium Finishing. Perfect Lifestyle Offered From This Half Duplex, Built By Harmony Homes, As You Are Not In A Large Strata Building & Only Have 1 Neighbour. Finished With Beautiful Hardwood Flooring Across An Open Living Plan With Recessed Led Lighting. The Stunning, Island Kitchen Features Quartz Counters With White Uppers And Contrasting Maple Veneer Lower Cabinets. A Stainless Appliance Package Includes A French Door Fridge, 5 Burner Gas Range And A Premium Dishwasher + Microwave Oven And Electrolux Full Size, Front Load Washer & Dryer. There's Ceiling Speakers For Great Ambient Music, A Large Corner Pantry And A Glass Sliding Door Out To The Covered Rear Patio. Off The Foyer Is A Convenient Powder Bath And Large Hall Closets To The Mudroom And Over Sized, Double Garage. 3 Bedrooms Upstairs Including A Generous Master With A Walk In Closet And Luxury 4 Piece En Suite Fitted With Dual Vanities, Motion Kick Lighting And A Seamless Glass & Tile Shower. Built For Living The Okanagan Lifestyle With Minimal Yard Work So You Can Bike Or Walk Only Minutes To The Beach, Local Parks And Pandosy Village Shops / Pubs / Restaurants / Coffee Shops. In The Heart Of The City But Tucked Away Enough To Have Peace & Serenity From The Lively Activities! Truly Just Lock-Up And Go Play! Proudly Represented By Tamara Terlesky Prec* Re / Max Kelowna. (Id:23934)
CALL1.877.896.6727
Property Price
$678,000
Minimum Down Payment (%)
6.31%
Minimum Down Payment ($)
$42,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$11,560
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$55,860
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$55,860
Monthly Payment
$2,956

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).