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

Welcome To The "The Edge" Of Downtown Abbotsford. This Unique 2 Bed 2 Bath Features 1500+ Square Foot Common Roof Top Patio With Breathtaking View Of Mt. Baker. Pets And Rentals Are Allowed . Its Located Core Of Downtown Abbotsford, It Has Good Connectivity With Public Transport Which Naturally Gives The Owner The Advantage Towards Renting Out At A Very Comfortable Rate.Steps To Historic Downtown Abbotsford, The Edge By Parcel 7 Is Minutes To West Oak Mall, Mill Lake Park And Easily Accesses The Airport And Hwy 1. It Has Great Latent Value Which Will Only Go Up.Don't Wait Don't Hesitate Give Me A Call Today.Completion Oct 2020. * Prec - Personal Real Estate Corporation (Id:23934)
CALL1.877.896.6727
Property Price
$435,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,750
Mortgage Insurance ($)
$16,530
Mortgage Required ($)
$429,780
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,700
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$29,950
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$29,950
Monthly Payment
$1,756
Fully Reno'd 4 Bed + 3 Bath At The Pepperwood! Welcome To This Stunning 3 Level Townhome With 1680 Square Ft Of Living Space Located In The Desirable Willoughby Heights. Tastefully Update Featuring New Quartz Counter Tops, Shaker Cabinets, Stainless Steel Appliances, Undermount Sink, Glass Tile Backsplash, Laminate Floor, New Fixtures, Crown Moldings, Extensive Mill Work, Built-In Vac. & More. Upstairs You Have 3 Beds & 2 Full Baths & Laundry Area With Newer With D. The Master Suite Has His & Hers Closets, Mirror Doors & Double Vanity In Bath. The Complex Has A Great Club House With Outdoor Pool, Gym, Hockey Arena, Pool Table, Theater Room, Playground & More. Amazing Location Minutes Walk To All Levels Of School, Shops, Parks & Restaurants. 2 Parking Spots, Single Garage With Plenty Of Storage & Spot Out Front. Call Now! (Id:23934)
CALL1.877.896.6727
Property Price
$595,000
Minimum Down Payment (%)
5.80%
Minimum Down Payment ($)
$34,500
Mortgage Insurance ($)
$22,420
Mortgage Required ($)
$582,920
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$9,900
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$45,900
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$45,900
Monthly Payment
$2,382
Welcome To This Breathtaking Home In The Sky! Boasting Stunning City & Mountain Views That Are Sure To Wow From The 26Th Floor. Open Concept Floor Plan With No Wasted Space And Bedrooms Separated For Privacy. This Rare Home Features 2 Oversized Balconies From Both The Living & Master Bedroom! Enjoy The Convenience Of Full-Size Washer / Dryer, And The Luxury Of Bosch Appliances, Stone Countertops & Hrv Unit. With 17,000 Square Feet Of Resort Inspired Amenity Space, This Building Is Made To Entertain. Amenities Include: A Fully Equipped Gym, Heated Outdoor Pool, Social Lounge With Kitchen & Dining Room, Deck With Relaxing Loungers, & A Barbeque Terrace With An Outdoor Fireplace As Well As Visitor Parking. 1 Storage Locker + 1 Parking Stall Included. Call Today To View. (Id:23934)
CALL1.877.896.6727
Property Price
$728,000
Minimum Down Payment (%)
6.57%
Minimum Down Payment ($)
$47,800
Mortgage Insurance ($)
$27,208
Mortgage Required ($)
$707,408
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$12,560
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$61,860
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$61,860
Monthly Payment
$2,891
In The Most Convenient Location In Richmond City Centre. Spacious 765 Square Ft One Bedroom Unit In A Concrete Tower. Quiet And Bright With City & Eastern View. Brand New Stove, Dishwasher, Faucet And Cooker Hood In The Kitchen. The Library And Minoru Park Just Nearby. Walk To Richmond Centre, Skytrain, Aquatic Centre And City Hall. Strata Fee Includes Heat, Hot Water, Electricity And City Utilities. No Rentals, No Pets, 19+ Years Of Age For An Ideal Environment. Could Be Possessed Immediately. (Id:23934)
CALL1.877.896.6727
Property Price
$318,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$15,900
Mortgage Insurance ($)
$12,084
Mortgage Required ($)
$314,184
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$4,360
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$21,760
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,760
Monthly Payment
$1,284
A New Generation Of 3 And 4 Bedroom Townhomes Featuring Live / Work Or Legal Suites With Views Of The North Shore Mountains. Aligning With The North Shore Style, West Coast Contemporary Architecture Is Expressed With Wood Siding, Roof Overhangs, And Light Brick. Great Design Runs Deeper Than Style Here, With Homes Being Built To Leed Gold Sustainability Standards, And Live / Work Or Legal Secondary Suites Included In Some Homes To Help With Mortgages, House Grandparents Or Achieve Your Business Dreams. Founders Block North Is Designed For Tomorrow. (Id:23934)
CALL1.877.896.6727
Property Price
$1,309,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$261,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,047,920
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$24,198
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$287,678
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$287,678
Monthly Payment
$4,282

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).