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

Fusion Ten, A Boutique Collection Of 10 Contemporary Th, Quality Living Over 3 Levels & On Top Of It All A Must See Roof Top Patio! Looking For Private Outdoor Space? Then Look No Further! Our Roof Top Patios Have Extended Eaves, Higher Parapet Walls Btwn Units Ensure Privacy. Imagine Your Outdoor Kitchen / Living Area Equipped With Gas For Barbeque, Heat Lamp, Fire Pit. Fridge, Sink With Side Burners, Black Granite Countertop. Downsizing? First Time Homebuyer? We Offer A Perfect Option Walk-Out Compromise. Hard To Find: 2 Bedroom + Den (Both Bdrms With Ensuite), Db Car Garage. Custom Highlights Included Sleek Cabinetry, Under Cabinet Lighting, Soft Close Drawers, Spa Like En-Suite, Huge Master, Ceiling Fans, Glass Railings, High Volume Ceilings. Notable Gas Features: Range, Dryer, Barbeque & A Direct Vent Rinnai Gas Heater Delivers Consistent Comfort & Warmth That Optimizes Gas Use Which Equates To Lower Utility Bills. Details Thoughtfully Provided By Award Winning Builder Bth Construction. Move In For Xmas (Id:23934)
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Property Price
$534,900
Minimum Down Payment (%)
5.33%
Minimum Down Payment ($)
$28,490
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$8,698
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$38,688
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$38,688
Monthly Payment
$2,357
This Full Sidexside Duplex Is Being Offered For Sale For The Very First Time By The Original Owners. Check Out The Mapping As It Has Only One Neighbor, Is On A Very Large 0.33 Acre Lot And One Side Has Access From The Rear Where A Large Newer Shop Is Located Complete With 220 Power. Each Side Offers 2 Beds And Full Bath Up Along With A Good Sized Kitchen And Family Room. Downstairs Is A Large Recreation Room, 2 Bedrooms And Laundry. Newer Roof, Furnace And Central Air Conditioner 3 Years Ago, On Sewer And Vacant Both Sides. Move In And Keep One Side As A Rental Or Stratify And Sell One Side Off Or Enjoy Instant Cash Flow And Rent Both Sides. Separate Entrances So Easy To Suite. Lots Of Great Options With This Unique Offering! See And Learn More At Www.Watson-Brothers.Com Or Call Us Direct At 250-712-2222. (Id:23934)
CALL1.877.896.6727
Property Price
$725,000
Minimum Down Payment (%)
6.55%
Minimum Down Payment ($)
$47,500
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$12,500
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$61,500
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$61,500
Monthly Payment
$3,153
Welcome To The Wyatt! This Is A Stunning, Ground Floor Unit! Big One Bedroom Plus Den! This Is A Great Investment! This Building Is To Be Completed In 2019! Comes With One Parking! Great Location! Very Central To A Great Family Area! Call Today For More Details! (Id:23934)
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Property Price
$399,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,995
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,998
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$27,493
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$27,493
Monthly Payment
$1,768
"Wildwood Terrace" Corner Unit With North West View, And Sundeck With Sliding Door. Formal Dining Room, Large Kitchen And Living Room. Master Bedroom With Walk Through Closet And Semi Ensuite. Two Large Storage Closets / Rooms, Underground Parking. Hot Water Heat Included In Maintenance Fee. Located Near Shopping, Schools, Transit Parks. (Id:23934)
CALL1.877.896.6727
Property Price
$194,800
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,740
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$1,948
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$13,188
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,188
Monthly Payment
$861
Sharp, Sharp Price! No Expense Spared Transforming This Stunning West End City Home Of 430 Square Feet. The Horizon Is A Prepaid Leasehold (2073) With A Stunning Rooftop Terrace And Swimming Pool. Completely Redesigned This Year, Don't Let The Square Footage Fool You As This Open Concept Junior 1-Bed Offers Adequate Storage, Extensive Built-Ins And Expansive Windows Flooding The Home With Natural Sunlight. Long List Of Designer Upgrades Including Oak Hardwood Floors, Brick Feature Wall, Recessed Lighting And A Designer Kitchen Showcasing High Gloss Cabinetry, New Appliances & Ceasterstone Counters. Ideal Investment Opportunity Rentals Are Allowed But No Airbnb. Unbeatable West End Location Where You Can Walk To The Beach Or Davie Village In Less Than 5 Mins. Maintenance Fees Include Heat, Hot Water, Tax & Management. Please Visit Realtors Website For More Photos & Information. Open Sun Dec 8Th From 3-4Pm. (Id:23934)
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Property Price
$325,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,250
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$4,500
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$22,250
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$22,250
Monthly Payment
$1,437

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).