Coast Capital Mortgage Calculator
Haven't found a property to purchase yet?
Newfoundland and LabradorConception Bay South257Grand Falls-Windsor178Mount Pearl186Paradise247St John's1,010
Enter the amount that you are planning on paying for the property
Enter property purchase price
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%
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
Select province to get current
Mortgage type specifies whether the interest
rate is variable or fixed
Please select how often you would like
to make your mortgage payments.
About Coast Capital Mortgages
There are plenty of perks when home buyers join the membership of Coast Capital (the largest Federal Credit Union in Canada) for its regulation by the government (this regulation provides benefits such as lower interest rates on all types of loans (including mortgage loans) and a long list of alternative services & products!). Home buyers can easily check out Coast Capital's website to find a multitude of useful mortgage tools, like the Coast Capital mortgage calculator. Whether you are a mortgagee in the market for home equity loans, mortgage renewal, mortgage refinancing, or a second mortgage, or you are a first time home buyer looking for a new mortgage, Coast Capital has a mortgage product just right for you. Armed with a team of mortgage specialists, home buyers will be able to reap the benefits of credit union membership. Other mortgage loan lenders have higher interest rates (like mortgage companies) and may not extend the 'community-oriented' service that Coast Capital does with each member. The list of mortgage types extends beyond fixed rate mortgages, variable rate mortgages, and adjustable rate mortgages, but these are the top three that are most popular for how they perform over the life and maturity of the mortgage loan.
As you will quickly see why, a Coast Capital mortgage calculator is great at comparing a variety of mortgage-related scenarios. With a 20% down payment minimal, home buyers would potentially qualify for a conventional mortgage, which would (in essence) drop the amount down of the loan and lower the risk to your lender. Mortgage default insurance typically is imposed on home buyers that have less then 20% down payment (this is becoming a popular option for buyers that want to hang onto their saved cash and pay the little bit of extra each month to avoid the burden of a substantial down payment). If the home buyer and the lender decide to incorporate mortgage default insurance, the mortgage will be a high ratio mortgage. A mortgage calculator is great at showing how much a mortgage loan would cost each month roughly with a large down payment and without a large down payment, so comparing is a good strategy. Some tips for saving money on your mortgage is to increase the monthly payment frequency to bi-weekly instead of once a month, as this in turn will get you to the 'pay more on the principal' goal. With good advice and lots of knowledge, you will have a positive mortgage experience.