CMLS Financial Mortgage Calculator
Haven't found a property to purchase yet?
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Enter the amount that you are planning on paying for the property
STEP 1
Enter property purchase price
Option #1
Option #2
Option #3
Option #4
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Enter the amount that you will pay upfront
toward the property to obtain a mortgage
–
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
+
$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)
=
$494,000
$463,950
$436,900
$400,000
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Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
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Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
AlbertaBritish ColumbiaOntarioSaskatchewan
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Fixed Rates
1 Year
2.29%
2 Year
2.04%
3 Year
3.54%
4 Year
2.04%
5 Year
5.84%
7 Year
3.64%
10 Year
3.89%
Variable Rates
3 Year
4.15%
5 Year
6.25%
Fixed Rates
1 Year
2.29%
2 Year
2.04%
3 Year
3.54%
4 Year
2.04%
5 Year
5.84%
7 Year
3.64%
10 Year
3.89%
Variable Rates
3 Year
4.15%
5 Year
6.25%
Fixed Rates
1 Year
2.29%
2 Year
2.04%
3 Year
3.54%
4 Year
2.04%
5 Year
6.64%
7 Year
3.64%
10 Year
3.89%
Variable Rates
3 Year
4.15%
5 Year
6.25%
Fixed Rates
1 Year
2.29%
2 Year
2.04%
3 Year
3.54%
4 Year
2.04%
5 Year
5.84%
7 Year
3.64%
10 Year
3.89%
Variable Rates
3 Year
4.15%
5 Year
6.25%
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Please select how often you would like
to make your mortgage payments.
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
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About CMLS Financial Mortgages
CMLS Financial is the 'go to' mortgage company that provides residential and commercial mortgages all throughout Canada. When a company like CMLS Financial specializes in mortgages, home buyers can be assured that they will be offered outstanding customer service, excellent competitive rates, and well-tailored mortgage products that scream 'cozy & comfortable' for home buyers. Owning a home does not have to remain a dream, for it can come to fruition though CMLS Financial. Working as specialists in the mortgage market, CMLS Financial can assist with a new mortgage for first time buyers, a second mortgage, mortgage refinancing, home equity loans, or mortgage renewal with flexible terms & prepayment/payment privileges. If you take a few moments to view the website, you will have access to the CMLS Financial mortgage calculator, the prepayment calculator, affordability calculator, and information on mortgage products. The mortgage calculator is simple to use, as it only requires the mortgage amount, the interest rate, and the number of years or months you wish to borrow the money for and click calculate for the monthly payment amount. Each calculator is just that easy to use and they will provide you with an overall sense of how much a mortgage loan will cost you (on top of the principal amount).
Upon using the CMLS mortgage calculator, you will see how a fixed rate mortgage and an adjustable rate mortgage differ from each other. The fixed rate mortgage and interest rate can be fixed for the entire term of your mortgage loan (up to 10 years), which is a good option for buyers that do not want any changes in their monthly payments, but stand the chance that the prime rate may lower, but you are locked into the agreed-upon interest rate (if the prime rate rises, then you are saving money). The adjustable rate mortgage is offered in 3-year and 5-year terms and is set to keep pace with the prime rate (CMLS Prime). An adjustable rate mortgage can fluctuate upwards or downwards, which means your monthly payment may be affected, so a little more unpredictable then a fixed rate mortgage. Working closely with the CMLS mortgage team or through your own mortgage broker, CMLS Financial offers home buyers flexibility with their mortgage loan & payment features to match every individual's investment expectations and lifestyle. Choose payment frequencies (monthly, semi-monthly, bi-weekly or weekly) and see up to 20% on prepayment & payment privileges...a very cozy and easy fit!