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

Calling All First Time Buyers Or Investors! Condo Living At Its Best. Bright South Facing 1 Bedroom + Den At The Grove! This Unit Is Move In Ready. Laminate Floors Throughout. Bright White Kitchen With Tile Backsplash, Granite Counters, Stainless Steel Appliances. Well Appointed, Updated Bathroom With Sliding Glass Shower Door. Bedroom Has A Large Walk In Closet. Den Makes A Perfect Home Office Or Room For An Overnight Guest. Livingroom Has Electric Fireplace, Surrounded By Built In Shelving, Oversized Windows Throughout. Large Balcony This Is A Fantastic Walnut Grove Location, You Can Walk To Everything, Restaurants, Shopping, Transit, Movie Theatre, Banking And More! You Don't Want To Miss This One! (Id:23934)
CALL1.877.896.6727
Property Price
$394,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,745
Mortgage Insurance ($)
$15,006
Mortgage Required ($)
$390,161
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$5,898
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$27,143
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$27,143
Monthly Payment
$1,523
Welcome To This Impeccably Kept, 3 Bed / 3 Bath Townhouse Nestled In The Peaceful Burke Mountain Neighbourhood, Where Nature & Forest Trails Abound! The Main Bedroom Has A Luxe Feel With Vaulted Ceilings, More Than Enough Space For A King-Sized Bed, And An Ensuite With Soaker Tub, Rainhead Shower, Plus Double Sinks. Enjoy Cooking In The Spacious Kitchen With Bosch Appliances, A Large Kitchen Island, And Granite Countertops. Get That Barbeque Fired Up - The Home Also Has A Private, Fenced Patio With A Separate Entrance Along A Quiet Street With Easy Parking, Perfect For Hosting Friends And Family. Bonus: Garage Has An Automatic Ventilation System So Partially Of It Could Be Converted Into A Recreation Room. Come Take A Look! Open House By Appointment, Sat Oct. 23 (1-4Pm) And Sun Oct. 31 (1-4Pm). (Id:23934)
CALL1.877.896.6727
Property Price
$898,000
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,800
Mortgage Insurance ($)
$33,328
Mortgage Required ($)
$866,528
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$15,960
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$82,260
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$82,260
Monthly Payment
$3,383
Sardis Park Rancher On 1 / 4 Acre Lot!! This 3 Bedroom Rancher Offers An Beautiful, Bright Spacious Living And Dining Area. Open Concept Kitchen, Eatting And Sitting Area With Gas Fireplace. Massive Master Bedroom With Sliding Doors Opening To The Backyard. Huge Ensuite With Walkin Shower And Room To Add A Bath Tub. Large Guest Bedroom Looking Out To The Back Yard And A Smaller 3Rd Bedroom Or Office Located At The Front. The Home Has A Double Garage And Is Situated On A 10,000 Square Ft Pie Shaped Lot Awaiting All Your Outdoor Living Ideas. All This On An Amazing Culdesac, Close To All Levels Of Schools And Shopping! Come Take A Look! (Id:23934)
CALL1.877.896.6727
Property Price
$869,900
Minimum Down Payment (%)
7.13%
Minimum Down Payment ($)
$61,990
Mortgage Insurance ($)
$32,316
Mortgage Required ($)
$840,226
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$15,398
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$78,888
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$78,888
Monthly Payment
$3,281
Welcome To Waterscapes! Across The Street From The Beach And Close To Everything Downtown Has To Offer! This Top Floor 2 Bedroom Condo Has A Great Functional Layout. There Are 2 Bedrooms And They Are Separated For More Privacy. The Kitchen Features Granite Countertops And Cupboards With A Built In Wine Rack. Both Bedrooms Are Spacious And The Master Includes A Walk In Closet And Full Ensuite. Enjoy Living At Waterscapes With Amenities Such As An Outdoor Pool, Two Hot Tubs, A Well-Equipped Fitness Centre, Putting Green, And The Cascade Club Which Features Pool Tables And A Large Gathering Area. This Development Also Offers Rental Suites. Walk To Everything Including Restaurants, Breweries, Shopping, Arena And Kelownas Cultural District. Live Close To Nature Including Rotary Marsh Park, Beaches, Sutherland Bay And Knox Mountain Park. This Unit Also Comes With One Secure Parking Stall And Storage Locker. (Id:23934)
CALL1.877.896.6727
Property Price
$499,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,995
Mortgage Insurance ($)
$18,996
Mortgage Required ($)
$493,901
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$7,998
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,493
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$34,493
Monthly Payment
$1,928
Excellent Opportunity To Get Into A Wonderful Neighbourhood In An Older But Much Loved 2 Level Home. This Bungalow Style Residence Has Lovely Views Of The Mountains And Inlet Below And Is Set On An Expansive 8400 Square Ft Level Lot. 2 Bedrooms Are On The Main Level But More Bedrooms Could Easily Be Added Downstairs. Outside Is A Very Large And Even Yard-Perfect For Young Children And A Growing Family To Enjoy! This Excellent Property Is Located Just Steps Away To Sherwood Park And Sherwood Park Elementary School And Only A Few Minutes Away To Deep Cove, Mount Seymour Park, Northlands Golf Course And Parkgate Village Shopping. (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 (%)
1.30%
Mortgage Type
5 Years Variable
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
$4,682

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).