National Bank 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
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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
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
Fixed Rates
1 Year
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
Fixed Rates
1 Year
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
Fixed Rates
1 Year
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
Fixed Rates
1 Year
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
Fixed Rates
1 Year
6.19%
2 Year
6.19%
3 Year
6.14%
4 Year
6.09%
5 Year
6.49%
6 Year
6.90%
7 Year
7.00%
10 Year
7.49%
Variable Rates
5 Year
6.74%
Fixed Rates
1 Year
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
Fixed Rates
1 Year
3.39%
2 Year
3.49%
3 Year
3.94%
4 Year
3.14%
5 Year
3.19%
6 Year
5.44%
7 Year
5.70%
10 Year
6.50%
Variable Rates
5 Year
3.95%
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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 National Bank Mortgages
Whether you are researching lenders for the perfect mortgage product, rates, or services, National Bank (one of the largest commercial banks in Canada) can help you every step of the way within the mortgage market. The website is loaded to the brim with bits of mortgage-related information, the National Bank mortgage calculator and other helpful calculators and of course, a great team of mortgage experts at your disposal. There are many decisions to make before securing a mortgage, whether it is a mortgage renewal, home equity loans, mortgage refinancing, or a new mortgage for first time home buyers, National Bank crafts their mortgage loans to realistically fit peoples' lives and their individual financial standing. Taking on a mortgage loan is a long term obligation, so it is always a savvy strategy to make sure you are as prepared as possible before taking the leap into home ownership. All lenders have 'criteria' that home buyers must meet, and it varies between lenders. Private lenders have a bit less restrictive criteria but are known to impose higher interest rates on home buyers to offset this. Major banks like National Bank may have a stricter set of criteria, but this is largely due to the fact that all major banks are regulated by the government (this is how banks can offer lower interest rates).
By using the National Bank mortgage calculator, home buyers will see very quickly how a mortgage loan comes together to formulate the monthly payment amount that buyers must pay. There is no downside to calculating your mortgage, your payments or prepayments or even your level of affordability and the calculators are easy & free to use as much as you wish. Comparing mortgages is another good idea because mortgage types differ from each other and carry different interest rates, terms, and conditions. This is where approaching a mortgage professional can be of assistance (to outline the good points and not so good points of each mortgage product). Do you qualify for every mortgage product available? The mortgage product(s) that will be offered to you will depend largely on your personal finances, your debt ratio, your total gross income, your credit rating, assets, and more. A lender looks at the risk factor and if your finances are not 'up to par', then the risk factor rises, and the home buyer will not be offered certain mortgage products. Yes, the home you have your eye on does count towards collateral against a mortgage loan, but the lender needs to know that you can make the monthly payment(s) with ease with money left over for incidentals.