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

Welcome To 9900 Seacastle Drive Located In The Popular Ironwood Neighborhood. This Home Features 2 Story, 3 Large Bedrooms, 2 Full / 1 Half Bathroom, West To East Side Exposure And Sitting On A 5173 Square.Ft Lot. The House Has Been Cared For With Recent Updates That Include New Exterior Paint, Newer Roof, Double Glazed Windows, Newer Hot Water Tank And Furnace. This House Is Minutes Away From Shopping Malls, Schools, Parks And Public Transit. School Catchment Are Kingswood Elementary And Mcnair Secondary High School. (Id:23934)
CALL1.877.896.6727
Property Price
$1,088,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$217,600
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$19,760
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$238,860
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$238,860
Monthly Payment
$3,895
Welcome To Historic Port Hammond. This Little Charmer Offers A Lot Of Features In A Small Package. There Are 3 Bedrooms And Updated Bathroom. The Kitchen With Granite Countertops Is Centrally Located To Allow For Perfect Entertaining. When The Outside Calls, You Can Exit Through The Mud Room To The Awesome 12' X22' Sundeck. Step Down To The Large Fenced Yard And When In Season You Can Enjoy Blueberries, Apples, And Plums. Maybe Work On A Project In The Garage / Workshop. This Location Has Great Access To The West Coast Express And Golden Ears Bridge. Call To View. (Id:23934)
CALL1.877.896.6727
Property Price
$598,900
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,890
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,978
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,368
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$46,368
Monthly Payment
$2,625
Live The Okanagan Dream Today! No Strata Fee, Luxury Living At It's Finest Here In The Black Mountain Golf Course Community Of Dunbar Villas. Executive 4 Bedroom, 3 Bath Overlooking Beautiful Black Mountain Golf Course. Shows Like New. Stunning, Unobstructed Golf Course And Mountain Views. Parkland And Green Space Right Out Your Door. Custom Finishings With All The Bells And Whistles. Open Concept Living. Spacious Kitchen Sparkles With Stainless Appliances And Quartz Counters, Gas Range And Huge Island. Kitchen Is Open To The Family Room And The View! Hardwood, Gas Fireplace, Master On The Main Floor, 10 Foot Ceilings On Both Levels Are A Few Of The Stand-Out Features Of Your New Home. Large Master Retreat With Spa Style, 5 Piece Ensuite. Massive Deck And Outdoor Space On Both Levels. Private, Low Maintenance Outdoor Space Is Complete With Wiring For Your Hot Tub On Lower Level. Bring The Pets & The Kids, Rentals Allowed, No Age Or Pet Restrictions. Furniture And All Household Items Negotiable. The Perfect Turn-Key Residence, Just Unpack Your Suitcases And Enjoy. Minutes From Everything...Orchard Park Shopping Center, Kelowna International Airport, Big White, Ubco, Aberdeen Hall Preparatory School, Elementary, Middle And High Schools. Call Krista Suchar, 250-870-Sold(7653) For Your Private Tour. Www.Kristasuchar.Com For More Photos And Info. (Id:23934)
CALL1.877.896.6727
Property Price
$689,900
Minimum Down Payment (%)
6.38%
Minimum Down Payment ($)
$43,990
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$11,798
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$57,288
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$57,288
Monthly Payment
$3,006
South Facing 2 Bedrm & 2 Bathrm Unit At Thompson House In Brentwood Gate West By Ledingham Mcallister! Excellent Interior Condition, Newly Painted. Open Kitchen With Granite Counters & Stainless Steel Appliances. Bedrms On Opposite Sides Of Unit For Privacy. Granite Counters In Both Bathrms. Lots Of Natural Light Form Facing South But Quieter As Building In Front Blocks Noise From Lougheed Hwy. Covered Balcony With Peekaboo View Of Metrotown Between The Buildings In Front. Located On The Higher Side Of A Quiet Tree-Lined Street Right In The Middle Of The Up-And-Coming Brentwood Neighborhood. Awesome Location Next To Brentwood Mall Which Is Undergoing A Major Upgrade. Steps To Brentwood Skytrain Station. Close To Bcit & Sfu, Costco, Whole Foods, Save-On-Foods. Easy Access To Hwy 1, Lougheed Hwy & Hastings. (Id:23934)
CALL1.877.896.6727
Property Price
$599,800
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,980
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,996
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,476
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$46,476
Monthly Payment
$2,628
Charming Family Duplex Home With Laneway Access In Rt-7 Zoning, Set In One Of The Most Desirable Areas Of The City Directly Across Mcbride Park & Only Steps To All Amenities Of West 4Th & Alma St. Currently This House Is Split Into 2 Homes  Main Floor Suite With 2 Bedrooms On Lower Level & A Legal 2 Bedroom Suite On Upper Level With Own Separate Entry. Boasting Large & Bright Principal Rooms Throughout & Charming Characteristics That Are Evident In Crown Moldings, Leaded Windows, Coffered Ceilings, Trim And Hardwood Flooring. Perfect For Young Families, Downsizers Or Smart Investors Looking For A Project. You Will Love The Location And All Conveniences It Offers, Short Stroll To Beach, ½ Block To Major Grocery Stores, Restaurants, Cafes, Etc. Excellent School Catchment Area & Minutes To Ubc. (Id:23934)
CALL1.877.896.6727
Property Price
$1,900,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$380,000
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$36,000
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$417,500
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$417,500
Monthly Payment
$6,802

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).