Barrie 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
+
$1,520
$1,116
$952
$0
Lawyer Fee
+
$1,000
$1,000
$1,000
$1,000
Title Insurance
+
$500
$500
$500
$500
Land Transfer Tax
+
$6,475
$6,475
$6,475
$6,475
Total Cash Needed
=
$34,495
$59,091
$83,927
$107,975
First time home buyers in Barrie are eligible for a Land Transfer Tax rebate of up to $4,000

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

Barrie Mortgage Calculator Examples

Top 5 Reasons You Will Love This Duplex: 1) Legal Duplex Boasting An All-Brick Exterior And Solid Trim And Hardwood Flooring Throughout 2) Zoned C2-1 Allowing For Ample Opportunities 3) Updated Windows, A Reshingled Roof (2020), And New Eavestroughs (2020) 4) Triple Wide Driveway And A Backyard With A 2- Tiered Deck 5) Ideal Location Within Close Proximity To Amenities, The Downtown Core, And Lake Simcoe. 2,248 Finished.Square.Ft. Age 86. For Info, Photos & Video, Visit Our Website. (Id:23934)
CALL1.877.896.6727
Property Price
$849,999
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$60,000
Mortgage Insurance ($)
$31,600
Mortgage Required ($)
$821,599
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$13,475
Mortgage Insurance PST
$2,528
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$77,503
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$73,503
Monthly Payment
$3,246
A Rare Find In Sought-After North-East Barrie. Quiet, Tree-Lined, Family Friendly Established Crescent. Updated And Beautifully Maintained Open Concept, Side Split Living. Situated On Oversized Lot. Main Floor Boasts A Bright Open Kitchen, Living And Dining Room Combo With Large Windows And Walk Out To Sprawling Deck Overlooking Mature Gardens And An Inviting Inground Pool. Completely Private Backyard, Enclosed By Trees**** Extras **** Dishwasher, Dryer, Garage Door Opener, Pool Equipment, Refrigerator, Stove, Washer, Window Coverings (Id:23934)
CALL1.877.896.6727
Property Price
$724,900
Minimum Down Payment (%)
6.55%
Minimum Down Payment ($)
$47,490
Mortgage Insurance ($)
$27,096
Mortgage Required ($)
$704,506
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,973
Mortgage Insurance PST
$2,168
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$62,131
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$58,131
Monthly Payment
$2,783
Fantastic First Time Home Or Investor's Dream Property In A Quiet Neighborhood! Amazing Rental Income Opportunity With Split Private Upper And Basement Spaces. Two Private Fully Fenced Yards. Bright Home With Separate Entrance To The Basement Apartment. Huge Driveway With Updated Garage Workshop. Walk-Up, Private Entrance With Covered Patio, 1 Bed / 1 Bath With New Kitchen. Nothing To Add - Just Move In And Enjoy!**** Extras **** Stainless Steel Fridge, Stainless Steel Stove, Washer / Dryer, All Electrical Light Fixtures. Hot Water Tank Is Rental. Buyer / Buyer's Agent To Verify Taxes, Measurements, & Info. (Id:23934)
CALL1.877.896.6727
Property Price
$699,900
Minimum Down Payment (%)
6.43%
Minimum Down Payment ($)
$44,990
Mortgage Insurance ($)
$26,196
Mortgage Required ($)
$681,106
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,473
Mortgage Insurance PST
$2,096
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$59,059
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$55,059
Monthly Payment
$2,691
Beautifully Done 2 Stry Hm In Barrie's East End. Hm Boasts New Air Conditioner, Htd Ingrnd Pool, Legal 2-Bedroom Bsmnt Apart With Separate Entry Completed In 2020 ($1,800 / Mnth Included). Well Cared For Freshly Painted Main Areas With Hrdwd Flrs. 4 Bds On 2Nd Floor, Mstr With Ensuite. Main Flr Lndry With Inside Entry To 2 Car Garage, Fmly Room With Gas F / P, Eat-In Kitchen. Dnng Room Currently Used As Bedroom Can Be Easily Converted Back. Walkout From Kitchen To Deck And Pool. Bsmnt Has Eat-In Kitchen, Lvng Room, 2 Bds**** Extras **** And Own Lndry. Close To College, Hospital, Shop And 400. Come See Everything This Staycation Home Has To Offer. Follow Covid Protocols Wear Mask, Agent+2 Principals At A Time, No Children, Do Not Use Facilities. (Id:23934)
CALL1.877.896.6727
Property Price
$899,900
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,990
Mortgage Insurance ($)
$33,396
Mortgage Required ($)
$868,306
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$14,473
Mortgage Insurance PST
$2,672
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$83,635
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$79,635
Monthly Payment
$3,430
Charming Fieldstone Bungalow In Barrie's Sought After East End On An Amazing 75X204 Mature Treed Lot Directly Across From Kempenfelt Bay! This Unique & Captivating Home Offers Approx. 1829 Square Ft Of Light Filled Living Space-All On One Level. Newer Appliances, Original Wide Plank Hardwood Floors And 7.5 In. Baseboards Throughout! This Lovely Layout Has An Abundance Of Large Well Proportioned Rooms! Steps To The Beach, Barrie Yacht Club, Shopping And Downtown.**** Extras **** Inclusions, Fridge, Stove, Dishwasher, Washer, Dryer, Garden Shed (Id:23934)
CALL1.877.896.6727
Property Price
$699,900
Minimum Down Payment (%)
6.43%
Minimum Down Payment ($)
$44,990
Mortgage Insurance ($)
$26,196
Mortgage Required ($)
$681,106
Best Mortgage Rate (%)
1.40%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,473
Mortgage Insurance PST
$2,096
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$59,059
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$55,059
Monthly Payment
$2,691

Mortgages In Barrie

Hugging Lake Simcoe like an old friend, Barrie is the kind of city that does not feel like a city at all! This community-oriented locale offers all the comforts that a cozy home does, with great opportunities for families with or without children, outdoor enthusiasts, busy business executives and singles/young couples. On this side of the lake, home buyers will be delighted with the real estate market and the great selection of homes that range from older & mature to newer developments. To launch your realty journey, you can try out the Barrie mortgage calculator to see what budget amount can be a 'cozy fit' for you financially. Reuse the mortgage calculator as much as you want to 'play' with the numbers (this type of mortgage calculator can be basic and only requires the interest rate, amortization period & purchase price entered to provide a basic monthly payment amount). There are other basic calculators that can also help you on your way to understanding how all the financials of a home & property purchase works with your income and financial standing on a monthly and annual basis. Once you have a good idea of where your 'affordability comfort zone' is, then you can move forward to focus on some other important details before finalizing your dream home in Barrie.
Lenders and mortgage loan products... do you know what ones to watch out for and the ones that you can trust to work in your favor financially? Everyone's financial situation is different, so what may work for one person could be totally wrong for someone else, and therefore each lender and each mortgage loan product is designed differently and offers varied services. Some lenders are willing to take higher risks with borrowers, but at a cost to the borrower (higher interest rates). The higher the interest rate, the longer the loan plays out and costlier the home in Barrie is, so for people that have low credit ratings, have a pile of debts, and have little-to-no down payment saved are considered a higher risk. For people that have saved a sizeable down payment, have worked hard to maintain a good credit rating, and have less debts are less of a risk and more favorable to lenders like banks and mortgage brokerages. After using a mortgage calculator and investigating the different kinds of lenders, it will be time to bring yourself up to speed on the various mortgage loan products and which one would benefit you financially over a long period of time.
What is the difference between a fixed rate mortgage and a variable rate mortgage? Do you know the difference between a closed mortgage and an open mortgage? Are you familiar with a low ratio & high ratio mortgage? If you are not sure about what each mortgage product offers you, then you can take a moment to learn about mortgage products. A fixed mortgage appeals to many people, as upon agreeing on an interest rate with your lender, it is locked or fixed in place for a term or the entire amortization period. A variable rate mortgage (or adjustable rate mortgage) fluctuates with the market, so in other words, if the interest rate drops in the market, your interest rate drops too. If it rises in the market, your interest rate will rise as well. Having your mortgage closed means you are unable to re-negotiate any terms of your loan agreement during the amortization period. If you opt to have an open mortgage, then you have (without penalty) the ability to pay off your mortgage loan at any time. A low ratio mortgage is applicable when the borrower has a sizeable down payment to place against the loan, while a high ratio mortgage is the opposite and applies when a small down payment or no down payment has been placed against the loan.