HSBC Mortgage Calculator
Haven't found a property to purchase yet?
?
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
?
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
?
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
AlbertaBritish ColumbiaNew BrunswickNewfoundland and LabradorNova ScotiaOntarioPrince Edward IslandSaskatchewan
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
Fixed Rates
1 Year
6.29%
2 Year
5.54%
3 Year
5.04%
4 Year
5.94%
5 Year
4.89%
7 Year
5.44%
10 Year
5.94%
Variable Rates
5 Year
6.10%
?
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 HSBC Mortgages
You may already be familiar with HSBC, but did you know that this financial services company is ranked as the 7th largest multinational bank in the world? Financial products, financial services...HSBC has you covered! For those people that are in the market for a new mortgage, mortgage refinancing, home equity loans, a second mortgage, or a mortgage renewal, HSBC can work with you to secure the most competitive mortgage product & interest rate. Why not start your mortgage hunting by using the HSBC mortgage calculator? A mortgage calculator is fast, easy to use, and can work out hypothetical scenarios on how much a mortgage would cost each month or use an affordability calculator to first work out where you are most comfortable financially each month for a mortgage loan. If you are new to the market of mortgages, you may want to become familiar with the various mortgage products and how they operate individually. All lenders have mortgage pros at your disposal should you want the 'inside track' on mortgages and have a breakdown of each one outlined for you, so you can choose which one is going to work with your financial forecasting for your new home (whether it is being built from the ground up or you are going to buy a home).
The HSBC mortgage calculator, curiously enough, shows home buyers how a monthly payment on a mortgage loan works and the varying bits of information that are needed to derive that monthly amount. A mortgage loan is more complicated then a regular, personal loan because it is usually much larger so therefore, the criteria to qualify for a mortgage loan is more in-depth. The different kinds of mortgage calculators really are a great first step, as you will see not only does the interest rate affect the loan amount over time, but it is also about the payment each month and its frequency (weekly, bi-weekly, semi-monthly or monthly), the number of years you wish to take this sizeable loan out for, and if your mortgage product interest rate will be based on the prime rate (variable rate mortgage or adjustable rate mortgage), or if it will be set at an agreed rate (a fixed rate mortgage). Yes, your financial standing can make or break the type of mortgage product that you can qualify for, so it is always a good idea to be as prepared financially as possible. Approaching a lender with a saved down payment (if it is 20% or more of the value of the home, then you may qualify for a conventional mortgage) and saved closing costs will bump you into a lesser risk category.