Richmond 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
+
$8,000
$8,000
$8,000
$8,000
Total Cash Needed
=
$34,500
$59,500
$84,500
$109,500

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

Richmond Mortgage Calculator Examples

Rare Chance To Own A 2 Story Centra Location Duplex Style Townhome In Richmond. "Casamora" Built By Ampri With Many Successful Projects In Richmond. - Beautiful Designed And Quality Built Home With 3 Bedrooms+ Den. Lovely Large South Facing Fenced Private Backyard Nice And Quite. Large Side By Side Double 2 Car Garage. Unit Features 9' High Ceilings With Beautiful Crown Moulding. Kitchen Come With Granite Countertop. Master Bathroom Come With Soaker Tub & Separate Shower In The Ensuite, Open Den Can Use As Office Or Lounge Area. Home Is Just Steps To Garden City Community Park, Schools, Public Transportation. Please Call For Your Private Showing. (Id:23934)
CALL1.877.896.6727
Property Price
$938,000
Minimum Down Payment (%)
7.33%
Minimum Down Payment ($)
$68,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$16,760
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$87,060
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$87,060
Monthly Payment
$4,045
Welcome Home To A Tastefully Updated Unit Central Richmond By Award Winning Developer Polygon Homes. The Development Has Been Completely Rain-Screened. Well Maintained Strata With Healthy Contingency Fund For Your Peace Of Mind! This End Unit Overlooks The Interior Landscaped Courtyard, No Neighbours To One Side! Laminate Flooring, Gas Fireplace, New Appliances Plus Extra Windows In Living Room And Master Bedroom For A Light And Airy Feel! Spacious 826 Square Feet Living Space With In Suite Laundry Plus A Huge Balcony.Gas And Water Is Included In Your Monthly Maintenance Fee. (Id:23934)
CALL1.877.896.6727
Property Price
$388,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,400
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,760
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$26,660
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$26,660
Monthly Payment
$1,715
Beverly Garden, Rarely Found Totally, Tasty Renovated Bright, Spacious, South Facing Backyard T / H, 2 Level 3 Bedrm+Office, 2.5 Bath, Excellent Floor Plan, 3 Skylights, Hw Radiant Heat,Very Well Run Complex With Super Low Strata Fee ($241.50)Which Including The Utilities From City Of Richmond. Near New Skytrain, Ferris Elem, Richmond High, Richmond Centre, City Hall, Library, Pool, Minoru Community, More! Rentals Ok. Showing Start On Sat. Feb. 22Nd & 23Rd, 2:00-4:00Pm By Appointment Only. (Id:23934)
CALL1.877.896.6727
Property Price
$769,990
Minimum Down Payment (%)
6.75%
Minimum Down Payment ($)
$51,999
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,400
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$66,899
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$66,899
Monthly Payment
$3,341
Spires Gate Is The First Project To Bring Alabaster Homes' Award-Winning Westside Townhome Designs To Richmond. This Collection Of 1-4 Bedroom Tudor-Inspired Townhomes And Garden Flats Is Hidden On A Quiet Ring Road In The Heart Of Downtown Richmond. The Homes Feature Warm And Contemporary Interiors With An Open Concept Main Level. Family Hub Fridge. Air Conditioning And Heating For Every Home. Direct Access To Secured Parkade For Select Homes. Ev Charging Rough-In On Select Homes. Call 778-998-4068 For Private Appointments At Spires Gate Presentation Centre, Located At 230 3631 No. 3 Road, Richmond, Above Tom Lee Music. (Id:23934)
CALL1.877.896.6727
Property Price
$1,349,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$269,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$24,980
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$296,280
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$296,280
Monthly Payment
$4,829
Absolutely One Of A Kind! Luxury Condo Living With Super Spacious Floor Size Of 1789 Sf Plus Two Huge Balconies Over 1000 Sf. 4-Bed & 4-Bath Corner Unit With With N & E Exposures. Grand Foyer Opens To Entertainment Size Living Room. The Home Features Central Air-Conditioning, 9' Ceiling, Designer Cabinetry & Vanities, Gourmet Kitchen With Island, Quartz Counter-Top, Bosch Stainless Steel Appliances, Laminate Floors & In-Suite Laundry. The Unit Comes With 3 Close-To-Elevator Parking Stalls Plus 2 Bike Storages. Great Sorrento Complex Has Indoor Swimming Pool, Hot Tub, Fitness Centre, Basketball & Badminton Courts, Golf Simulator, Playground & Lounge Areas. All This In A Totally Central Location Just Steps To Shopping, Restaurants, Buses & A Minute Walk To Future Capstan Skytrain Station. Open House 2-4Pm, Feb 22, Saturday. (Id:23934)
CALL1.877.896.6727
Property Price
$1,888,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$377,600
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$35,760
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$414,860
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$414,860
Monthly Payment
$6,759

Mortgages In Richmond

Richmond is richly family-oriented and outdoor enthusiast-friendly for its wealth of rural and urban neighbourhoods, surrounded by parks & schools and all the conveniences of urbanite living. Golfers have the Quilchena Golf and Country Club, Country Meadows Golf Course & the Savage Creek Driving Range as a bonus too! The realty market in this city offers buyers every angle of the spectrum, from older houses with unique charm, to larger multi-level homes, to newer executive townhomes, to converted & newer condominiums, to even rural properties with spacious homes & acreage. Now is the time to invest in real estate, as the rapidly expanding waterfront & downtown areas are in development! Financing a new home in this city is super-easy when using a Richmond mortgage calculator; just decide which neighbourhoods are enticing to you and your family and search the MLS listings for your new home. A mortgage calculator will take the purchase price of the home, the interest rate, the amortization period & applicable taxes and work out the anticipated monthly payment for you! This is an easy method of understanding where you roughly stand with your finances and affordability against a new home and its monthly payments with interest (this figure is just an estimate).
Richmond is a beautiful place to hang your hat permanently, but before diving into this big decision too quickly, there are some key pieces of information that you should be aware of. Buying a home and going into deep debt for quite a few years is a big step for anyone, so it is always wise to sharpen your knowledge base about every possible detail that you will face upon purchasing a home. Besides the obvious mortgage loan, be aware that there are closing costs at the time of the property purchase & transfer, and of course, there are additional costs and fees like appraisals, inspections, land transfer taxes, insurance, as well as setting up all new accounts with the utility companies (water, septic, hydro & gas/oil). Sometimes, if a home is up for sale on a foreclosure listing, there may be immediate renovations needed in order to pass inspection. All these extra expenses are generally not at the forefront of home buyers' attention, however. Gather as much information as possible; this is imperative before discussing a mortgage loan with any lender, for knowledge is power! A mortgage calculator is merely the first fun step in seeing where you are in the realm of financial feasibility.
Using a mortgage calculator is an enjoyable experience, for it can be manipulated several times to see how changing the length of time for the mortgage loan can affect the payment amount with interest. Altering a monthly payment to a bi-weekly payment and so on can also raise or reduce the payment amount. Now it is time to take a harder look at the mortgage loan products in Richmond that are offered by lenders such as banks & private corporations. Banks are generally the best source for securing a mortgage loan, as you have already established yourself with your bank (and you would of course be trying to get the lowest interest rate so that you can pay off the principle of the loan more efficiently). The top two contenders for mortgages are a fixed rate mortgage and a variable rate mortgage. A fixed rate mortgage loan locks in the agreed interest rate for the whole amortization period (which is great, knowing your monthly payment will not fluctuate in interest, but if the interest rate goes down, your fixed rate stays the same). A variable rate mortgage loan does the opposite; the interest rate will go up or down as it is dictated by the market (these fluctuations will carry on throughout the whole amortization period).