Vernon 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

Vernon Mortgage Calculator Examples

Coyote Crossing Villas Welcomes You To This Tasteful 3 Year New Extra Wide Lockbox'x 76' 3 Bedroom 2 Bathroom Manufactured Home That Backs Onto The Pond Where You Can Sit On The Deck And Enjoy Watching The Migrating Birds In A Quiet Peaceful Setting. This Is A Pet Friendly Complex And No Age Restrictions. Only 15 Minuets To Vernon And All Its Amenities, 4 Minutes To The Golf Course And 15 Minutes To The Boat Launch. The Living Room, Dinning Room And Kitchen Are Open Concept With Vaulted Ceiling With Stainless Steel Fridge, Dishwasher And Gas Stove In The Kitchen, Also Washer, Dryer. The Large Master Bedroom Boasts A Large Walk In Closet With Ikea Shelving System, The Large Ensuite Bathroom Has A Jetted Tub And Separate Shower . The Main Bathroom Is Conveniently Located Between The Other Two Bedrooms . There Is Enough Room To Park 4 Vehicles And Rv Storage Available Through The Park. Monthly Fee Is $370 .00 That Includes Sewer, Garbage(Recycling), Water,Snow Removal And General Park Maintenance . (Id:23934)
CALL1.877.896.6727
Property Price
$289,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$14,495
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$3,798
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$19,793
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$19,793
Monthly Payment
$1,282
This Adorable Home Has Had A Lot Of Renovating. New Bathroom, New Flooring, And Baseboards, New Washer And Dryer. Repiped All The Plumbing (No More Poly B). New Island In The Kitchen. This Little Gem Sits On A Gorgeous Small Hill Of .48 Acre. Imagine Sitting By The Crackling Wood Fireplace And Enjoying A Beverage Or Two...No Neighbors And Quick Access To Quad And Snowmobile Trails. Low Taxes And Ready For You. (Id:23934)
CALL1.877.896.6727
Property Price
$375,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$18,750
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,500
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$25,750
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$25,750
Monthly Payment
$1,658
Investment Opportunity, A Easy Access Main Floor Level With No Stairs And Master Bed Room And Laundry, And 2 Beds Above Main, And Studio Suite With Separate Entrance In Walkout Basement. The Suite Has Separate Laundry. (There Is No Oven In The Studio Suite) This Corner Lot Property Is A Great Investment That Wont Last Long. South Facing With Tons Of Natural Light Show Cases The Warm Home Feeling You Get When You Enter The Home. Well Cared For And Quick Possession Possible. 30 Mins From The Airport, And Minutes From The Hospital, Transit, Shopping And College. Contact The Sulz Team For Your Personalized Viewing At 778-212-0868 Or Check Us Out Online At Www.Thesulzteam.Ca (Id:23934)
CALL1.877.896.6727
Property Price
$439,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,950
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$6,780
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$30,230
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$30,230
Monthly Payment
$1,941
Wow! Nearly New Home At The Vue In The Desirable Swan Layout With Extensive Upgrades To The Tune Of $50,000 To Give You Tons Of Living Space And Views To Die For. This Professionally Decorated Home Offers 4 Bedrooms And 4 Bathrooms With 2 Enclosed Decks From Which You Can Enjoy The Unobstructed City Views. Perfectly Situated In The Complex To Afford The Most Privacy And Least Amount Of Traffic. Gst Paid And A Fully Finished Basement Which Adds 567 Square Ft. The Kitchen Boasts Upgraded Appliances Including A Gas Range, Pennisula With An Overhang, Quartz Counters, Undermount Silgranit Sink, Cabinets With Pvc Shaker Doors, Flat Crown And Soft Close. Ac And Designer Blinds Keeps The Home Comfortable And Cool In The Summers. Bathrooms Include Quartz Counters, Kohler Elongated Toilets And In The Ensuite, The Tiled Shower Features Glass Sliding Doors. The Laundry Is Conveniently Situated On The Bedroom Floor To Make Life Simple. If You're Looking For A Lock And Leave Lifestyle Or Simply A Newer Home Where You Can Enjoy The Lifestyle The Okanagan Has To Offer Without Having To Spend Your Free Time Doing Home Maintenance, Then This Is The Home For You. No Speculation Or Foreign Buyers Tax In Vernon. (Id:23934)
CALL1.877.896.6727
Property Price
$469,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,450
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$7,380
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$32,330
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$32,330
Monthly Payment
$2,073
Always Dreamed Of Owning A Your Own Piece Of Paradise? This Is Your Chance To Live Your Dream. This Exclusive And Private Okananagan Lakeside Retreat Is All You Could Want And More For Your Summer Getaway, Or Build A Year Round Home On The Large Upper Lakeview Lot! Enjoy All You've Earned And Make Memories That'll Last Generations.Tucked Away On The A Quiet No-Through Road In Okanagan Landing. With The Separate Lake View Lot, Across Smith Road, This Opportunity Offers A Combined Total Of .34 Of An Acre. You'll Fall In Love With This Bright And Charming West Facing Home With Open Plan Offering 2 Bed 1 Bath In The Main Home & Gorgeous Free Standing 3Rd Bedroom With Epic Views & Private Deck. Authentic Lake Stone Rear Wall With Fireplace Anchors The Angled Beams Over The Main Living Area And Renovated Kitchen. Panoramic Views Abound From Every Vantage Point Including The Master Bedroom. The Private Beach Has A Dock, Boat Lift & Tiered Grass Area With Lots Of Room For Family And Friends To Lounge Or Play! All This Just 15 Minutes From Downtown Vernon, Where There Is No Speculation Tax! Nearby Is The Vernon Yacht Club, Paddlewheel Park & Community Hall, Indoor Soccer Arena & Elementary School; & Down The Road Is Ellison Provincial Park. To View This Home Contact Nik Roughton Prec* And The Value Plus Real Estate Team Today! 778-212-3737 Or Visit Http://Bit.Ly / Nikroughton-9181Smithroadfor For Our Listing Video With Drone Footage And Http://Bit.Ly / Nikrhoughton-9181Smith For Brochure. (Id:23934)
CALL1.877.896.6727
Property Price
$979,000
Minimum Down Payment (%)
7.45%
Minimum Down Payment ($)
$72,900
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$17,580
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$91,980
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$91,980
Monthly Payment
$4,217

Mortgages In Vernon

Each of the neighbourhoods in Vernon offer home buyers a richly laid out lifestyle; it is only a matter of which lifestyle and corresponding real estate appeals to you. Are you a golf enthusiast who would love to live in a resort-like environment with all the bells & whistles? Do you love hiking and nature walks? Does living in and amongst vineyards & orchards feel inviting? Or are you a true urbanite at heart who wants to live in the quaint downtown neighbourhood? With gorgeous view of Okanagan Lake and mountains in the backdrop, it is no wonder why many home buyers call this very accommodating city home. If you are going to be taking out a mortgage loan to potentially purchase a piece of real estate, the Vernon mortgage calculator can help you get started. Some kinds of mortgage calculator require the type of mortgage you will opt for, but if you are a first time buyer, then you should brush up on the different kinds of mortgages that may be available to you through a lender. You may want to focus your attention first on scrutinizing over your finances, knowing exactly where you stand, where you believe your affordability level is, and ascertain just how much of a down payment you could apply.
How healthy is your credit rating? Can you prove your total household income and any debts & overhead you currently have? Do you have a comfortability and wiggle room financially to cover all the costs that come along WITH the price tag of a new home? What about moving expenses and changing over all utilities? As a home owner, you will have additional utilities like water & septic and property taxes to consider in Vernon. Once you have a good idea about your finances, then you can use a mortgage calculator with confidence. Still not sure about the different kinds of mortgages and which one would benefit you? Well, there are two basic types of mortgages, being an adjustable rate or variable rate mortgage. There is also a fixed rate mortgage (and there is even a mixed kind of mortgage that can incorporate a fixed rate and variable rate) as well. A fixed rate mortgage offers more peace of mind because the agreed-upon interest rate is fixed for one term or the entire amortization period without fluctuating. What does fluctuate is a variable rate mortgage, which leans on the market to dictate whether the interest rate rises or drops, leaving home buyers at the mercy of the market.
Vernon is the kind of city that has shown to provide potential for a positive return on investment, but once you have decided on what kind of mortgage would suit you (will it be an open mortgage or a closed mortgage?), it will make using the mortgage calculator more accurate. What will you decide on when it comes to the payment frequency? Will you opt to make your payments weekly, bi-weekly, semi-monthly or monthly? How about your amortization period? Are you considering taking your mortgage loan for 5 years, 10 years, 15 years, 20 years or 25 years? Did you know that the longer you drag out your mortgage loan, the more interest you will pay? Another key point to think about is that the larger your down payment is, the better it will work out for you when trying to qualify with a lender for a mortgage loan. A down payment of 20% or more (that has been saved over time and not borrowed) will place you in a low ratio mortgage. A smaller down payment or no down payment at all will toss you into a high ratio mortgage and cost you a whole lot more money during the entire life of the mortgage loan.