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

This Like New 6 Bedroom & 6 Bath Home In One Of Richmond's Most Convenient Locations, Close To Shopping & Schools! The Home Features An Exercise Room, Home Theater And 1 Bedroom Legal Rental Suite With Separate Laundry. Spacious 3 Car Tandem Garage, With Motorized Driveway Entry Gate, With A Fully Landscaped And Fenced Yard. The House Features Hrv & Air Conditioner, Fully Covered Second Floor Patio Off Of Family Room Is Wired For 240V Patio Heaters & Patio Speaker Wires Rough-In. Comes Complete With Security System & 9 Full Hd Security Camera System. Theater Room Is Complete With Rough-In Surround Sound And Ready To Go For A Theater Screen. The Home Has Built In Speakers & Is Smart Home Ready. Balance Of The National Two 2-5-10 Home Warranty Included. (Id:23934)
CALL1.877.896.6727
Property Price
$1,880,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$376,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,504,000
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$35,600
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$413,100
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$413,100
Monthly Payment
$6,146
Brand New Luxury Townhouse With 4 Bedrooms And 2.5 Bathrooms. Modern Design And High Fnishing Standard Throughout.The Features With Air Conditioning, Wok Kitchen, Radiant Floor Heating, Quality Kitchen Cabinets, Quartz Stone Countertops. 5 Mins Drive To Richmond Center. 2 Mins Walk To Garden City Park And Schools. School Catchment: Debeck Elementary And Palmer Secondary School. Open House Sunday 09 2Pm-4Pm. (Id:23934)
CALL1.877.896.6727
Property Price
$1,137,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$227,400
Mortgage Insurance ($)
$0
Mortgage Required ($)
$909,600
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,740
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$249,640
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$249,640
Monthly Payment
$3,717
*The Biggest Unit In Ironwood Gate * Original Owners Have Kept This 1325 Square Feet 3 Storey Townhouse In Central Mcnair Area In Pristine Condition * The Main Floor Has A Formal Living / Dining Room, Custom Kitchen With Pantry. The Top Floor Has 3 Bedrooms, 2 Baths & Laundry. The Townhouse Features Granite Counter Tops, Stainless Steel Appliances, Built-In Vacuum, Jetted Bath Tub, Crown / Baseboard Mouldings, Gas Stove, Wood Flooring & The List Goes On. Very Private Yard With An Area For Gardening. Walking Distance To Bus, Restaurants, Ironwood Mall, Kidd Elementary School / Park & Close To All Amenities. The Low Strata Fee Of $199.25 Covers Gardening, Garbage Pickup, Insurance, Exterior Repairs, Water, Sewer & Management. This Complex Has No Rental Restrictions & Pets Allowed. Call For More Info / Viewing. (Id:23934)
CALL1.877.896.6727
Property Price
$775,000
Minimum Down Payment (%)
6.77%
Minimum Down Payment ($)
$52,500
Mortgage Insurance ($)
$28,900
Mortgage Required ($)
$751,400
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$13,500
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$67,500
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$67,500
Monthly Payment
$3,071
Versante: One Of The Most Convenient Locations In Richmond: 1 Block To Canada Line, Kwantlen University, Lansdowne Shopping Centre And All Amenities. Facing South With Amazing City View. Stainless Appliance, Laminate Hardwood Floor, Gourmet Kitchen With Granite Gas Cooktop. Great Amenities Include Table Tennis Room, Big Screen Theatre And Secured Elevators. It Is An Ideal Investment. 1 Parking And 1 Locker Included. (Id:23934)
CALL1.877.896.6727
Property Price
$508,000
Minimum Down Payment (%)
5.08%
Minimum Down Payment ($)
$25,800
Mortgage Insurance ($)
$19,288
Mortgage Required ($)
$501,488
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$8,160
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$35,460
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$35,460
Monthly Payment
$2,049
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

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).