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

Trellis In Central Glenmore Offers 49 New Modern Townhomes Providing A Location, Design And Value Like No Other. Watch The Virtual Tour. Enjoy The Convenience Of A Direct Walk-Out To Your Private Rear Fenced Yard From The Main Living Level Plus A Private Deck To Enjoy Friends And A View. Choose From 2 Designer Color Palettes Each With Quartz Countertops, Standard Stainless Steel Appliances, Mere Steps To Urban Amenities, Green Spaces And Reputable Schools. Only 6 Min. To Downtown And The Lake Or 10 Minutes To Ylw And Ubco. Call Us Today For A Tour Of This Exciting Place To Call Home. (Id:23934)
CALL1.877.896.6727
Property Price
$559,900
Minimum Down Payment (%)
5.53%
Minimum Down Payment ($)
$30,990
Mortgage Insurance ($)
$21,156
Mortgage Required ($)
$550,066
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,198
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$41,688
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$41,688
Monthly Payment
$2,248
The Most Desirable Location In West Coquitlam. Very Well Kept, Safe And Yet Quiet Neighborhood Near By Vancouver Golf Club. Spacious Open Floor Plan. Generous Size Bedrooms With Well Designed Living Space Provide All Kind Of Privacy And Enough Space For Every Family Members. Lots Of Storage Throughout Whole House,Fully Finished Basement, Vaulted Celling In Both Dining Area / Family Room. Lovely Eating Area And Kitchen With Windows Overlooking The Beautiful Garden With Covered Deck Offer You All Year Round It's Beauty And Joy+ Lots Of Daylight. Double Car Garage With Drive Ways For Parking, New Lg Washer, Spa Like Jetted-Tub En-Suite , Wine Room, Hot Tub, Extra Fridge And Freezer Etc.. Bonus,Walking Distance To Burquitlam Skytrain Station. This Is Your Dream Home,Must See!! (Id:23934)
CALL1.877.896.6727
Property Price
$1,780,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$356,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,424,000
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$33,600
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$391,100
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$391,100
Monthly Payment
$5,819
Prime Location On A Top Tier Street In The Highly Sought After Main Street Neighbourhood! 1928 Built, 5 Bedroom Home On A 33 X122' Lot, Situated On A Quiet & Beautiful Tree Lined Street, Just 1 / 2 Block East Of Main! Buy And Hold, Or Build Your Dream Home And Enjoy City And Mountain Views From The Main And Top Floor. 2 Bed Up, 2 Bed On The Main, 1 Bed Down, 2 Car Garage. Updates Included; Roof (7 Yrs Old), Hot Water Tank, Furnace & Heat Pump (4 Years Old). Walk To Both Schools: David Livingstone Elementary & Sir Charles Tupper Secondary. Just One Block To Prince Edward Park! House Rendering Of Draft Plans, A Stunning Modern House & Laneway (Available To View Upon Request). Don't Miss This Opportunity! Showings By Appt: Sun. Dec 6Th From 1-3Pm & Mon. Dec 7Th From 4-5Pm (Id:23934)
CALL1.877.896.6727
Property Price
$1,950,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$390,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,560,000
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$37,000
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$428,500
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$428,500
Monthly Payment
$6,375
Renovated To Perfection, This Lovingly Maintained Home Is Move In Ready. Backing On A Greenbelt, This Charming 3 Bedroom, Two Bathroom Home Sitting On An Over 8,000 Square Feet Lot Is What You Have Been Waiting For. This Bright & Spacious One Level Home Boasts Luxury Vinyl Plank Flooring Throughout, Open Living & Dining Room With A Gas Fireplace, A Renovated Gourmet Kitchen With A 36" Gas Range Opening Onto Family Room With A Second Gas Fireplace And Outdoor Decks To Enjoy The Private Garden Oasis And Hot Tub. Large Principal Bedroom With A Walk-In Closet And Gorgeous Spa-Inspired Ensuite. There Are Two More Good Sized Bedrooms And A Full Bathroom. Loads Of Storage. Attached 2 Car Garage & Easy Access 5' Crawl Space. Convenient Location On The North Shore. Showings By Appt Sat, Dec 5Th 2-4Pm (Id:23934)
CALL1.877.896.6727
Property Price
$1,349,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$269,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,079,200
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$24,980
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$296,280
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$296,280
Monthly Payment
$4,410
Come Check Out This 3Rd Floor Unit With Great Mountains Views! Affordable 1 Bedroom Plus Den In The New Mark With All Stainless Steel Appliances, Washer / Dryer, Covered Balcony And Underground Parking. This Complex Has No Age Or Rental Restrictions. Easy To Show, Book Your Showing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$199,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,995
Mortgage Insurance ($)
$7,596
Mortgage Required ($)
$197,501
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$1,999
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$13,494
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,494
Monthly Payment
$807

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).