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

Sellers Open To Offers Subject To Viewing After Viewing The Matterport. This Beautifully Finished Two-Story Home Sits In A Fantastic Neighborhood Of High-End Homes And Has An Exceptional Level Of Finishing. The Great Room Space Feels Dramatic And Impressive With Large Windows And 12' Ceilings That Let The Natural Light Flood Into The Home. The Floor-Plan Works Very Well With The Master Bedroom And A Second Bedroom On The Main Floor, While Two Additional Bedrooms Are On The Upper Floor. The Kitchen Has Upgraded Appliances And A Huge Quartz Island With A Waterfall Edge. The Cabinetry Includes Dark Lowers And Ceiling-Height White Uppers For A Modern Flair. The Bathrooms Have Heated Tiles While The Ensuite Also Has A 5' Glass Shower, Double Sinks And A Freestanding Tub. The Front And Back Are Meticulously Landscaped And Fully Irrigated. There Is On-Demand Hot Water A Separate Panel To Power The Home With A Generator If Needed, Along With An Air Conditioning System Installed In 2017. This Is A Very Special Home In A Very Quiet Area Of Custom Homes. Data And Measurements Are Approximate, Must Be Verified. (Id:23934)
CALL1.877.896.6727
Property Price
$865,000
Minimum Down Payment (%)
7.11%
Minimum Down Payment ($)
$61,500
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$15,300
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$78,300
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$78,300
Monthly Payment
$3,534
Welcome To This Lovely, Bright 1 Bedroom, 1 Bathroom Suite On The Quiet Side Of The Building, Just Steps To The Cook Street Village. Rentals, Small Pets And All Ages Are Welcome! This Very Functional Layout Features An Open Concept Kitchen, Living And Dining Area With A Cozy Gas Fireplace, Spacious And Totally Private Patio For Your Barbeque, And In-Suite Laundry. Secure Under-Building Parking And Separate Storage Locker As Well. You Will Enjoy Everything This Vibrant And Sought-After Location Has To Offer, Including Restaurants, Pubs, Boutiques And All Shopping Amenities. Just A Short Stroll To Downtown Victoria And The Inner Harbour, Beacon Hill Park And The Dallas Road Waterfront. (Id:23934)
CALL1.877.896.6727
Property Price
$359,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,995
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,198
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$24,693
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$24,693
Monthly Payment
$1,504
Proudly Marketed By Neufeld Jones & Associates - Re / Max Kelowna. Beautiful 2 Bedroom + Den, 2 Bathroom Unit In The Verve. Excellent Investment Property! This Open Plan Unit Features Stainless Steel Appliances, In Suite Laundry And Spacious Covered Deck. The Verve Has An Outdoor Pool, Beach Volleyball Court And Barbeque Picnic Area. Extremely Desirable Location Close To Schools, Shopping, Transit And All Amenities! This Unit Comes With 1 Secure Underground Parking Stall + Storage Locker. Pets (With Restrictions) & Rentals Allowed! Call Wes Jones 250-215-1084 Neufeld Jones & Associates At Re / Max Kelowna, Wes@Neufeldjones.Com (Id:23934)
CALL1.877.896.6727
Property Price
$314,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$15,745
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$4,298
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$21,543
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,543
Monthly Payment
$1,316
Character Abounds In This 3 Bedroom, 3 Bath End Unit Townhome In Brookside Terrace. Located In A Wonderful Gated Family Complex, This Spacious & Bright Unit Offers A Main Level With Large Living Room With Gas Fireplace, Wood Feature Wall, Adjacent Dining Area, & Glass Sliding Door To Private, West Facing Yard With Sizeable Patio; Ideal For Summer Barbeque's & Entertaining. Kitchen With White Cabinets, Tile Flooring, & Eating Area With Large Window. Laundry, 2 Piece Bathroom, & Storage. Upper Level With Spacious Master With 2Pc Ensuite, 2 Additional Large Bedrooms, & Nicely Updated 4 Piece Bathroom. Extensive Laminate Flooring & Pot Lights. Carport Parking, Additional Open Parking Spot, & Storage Locker. Quiet Location & Short Walk To All Levels Of Schools, Recreation, Shopping, Restaurants, & Transportation. * Prec - Personal Real Estate Corporation (Id:23934)
CALL1.877.896.6727
Property Price
$419,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,995
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$6,398
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$28,893
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$28,893
Monthly Payment
$1,755
Live For Now And Same Time Live In Investment Property. Rt2 Townhouse Zoning Has Been Approved By The "City Of Coquitlam". Centrally Located Easy To Access Hwy 1, Lougheed Sky Train Station, Vancouver Golf Course, Sfu, Shoppings & Restaurants, Excellent Schools Catchment, Blue Mountain Park. Bright Natural Sun Light South Facing House With 5 Bedrooms And 3 Bathrooms, Skylight, Large Crawl Space For Storage. Jacuzzi Tub, Nice Vie With From The Upstairs. (Id:23934)
CALL1.877.896.6727
Property Price
$2,299,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$459,980
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$46,997
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$508,477
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$508,477
Monthly Payment
$7,782

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).