Cambridge 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 Cambridge 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

Cambridge Mortgage Calculator Examples

Just Move In!! Completely Renovated Home In A Mature Quiet Neighbourhood. Nestled In This Family Community You Are Within Walking Distance Of Schools, The Ymca, Parks, The Cambridge Mall And All Amenities. Public Transit Is At Your Doorstep And Access To The 401 Is Minutes Away. Excellent Opportunity To Have An Inlaw Set Up With A Separate Entrance. The Large Private Backyard Has Endless Possibilities (Id:23934)
CALL1.877.896.6727
Property Price
$849,900
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,990
Mortgage Insurance ($)
$31,596
Mortgage Required ($)
$821,506
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$13,473
Mortgage Insurance PST
$2,528
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$77,491
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$73,491
Monthly Payment
$3,762
Attention Investors, Downsizers Or First-Time Home Buyers This Home Offers Buyers A Great Opportunity To Enter The Real Estate Market. This Super Cute Two Bedroom One Bathroom Freehold One Level Home Has Loads Of Potential. Offers No Stars To Climb, Great Flow With A Spacious Private Backyard In A Very Mature Quiet Neighborhood. Close To All Amenities, Easy Hwy Access And Centrally Located. This Home Is Extremely Affordable With Low Taxes And Utilities Cost. This Is A Must See. Don't Miss This Opportunity, This Home Won't Last!! (Id:23934)
CALL1.877.896.6727
Property Price
$499,999
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$25,000
Mortgage Insurance ($)
$19,000
Mortgage Required ($)
$493,999
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,475
Mortgage Insurance PST
$1,520
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,495
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$30,495
Monthly Payment
$2,262
This Elegant And Stately Home Is Located In The Prestigious Neighbourhood Of Old West Galt. Minutes Away From Downtown, Shopping Centers, Highway Access, Schools, Restaurants, Trails, And More. This Detached 2-Storey Home Has 3 Bedrooms, 2 Bathrooms, And A Private Fully Fenced Backyard. Recently Rebuilt In 2020, The Veranda Is Perfect For Enjoying Your Morning Coffee Or Evening Glass Of Wine. The Wiring Has Been Updated And Several Updates Have Been Made Throughout Including Bathrooms, Windows, Siding, And More, You'll Also Love The Look Beautiful Hardwood Floors Throughout. If You're Looking For A Move-In-Ready Home In A Great Neighborhood, Look No Further Than 90 Aberdeen Rd S! (Id:23934)
CALL1.877.896.6727
Property Price
$599,900
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,990
Mortgage Insurance ($)
$22,596
Mortgage Required ($)
$587,506
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$8,473
Mortgage Insurance PST
$1,808
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,771
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$42,771
Monthly Payment
$2,691
Old School Charm Meets Modern Updates In This Completely Transformed And Professionally Upgraded Bungalow With So Many Brand New Features, You Can Truly Move In And Not Worry About Anything Functional Or Mechanical For Many Years To Come. Brand New Roof, Windows, Central Air, Water Softener, Water Heater! Not Only That, This Home Is Tastefully Renovated Inside And Out In Neutral And Soothing Tones So You Just Have To Move In And Make It Your Own. Add In The Fact That All Of This Is Located On A Large Fully Fenced Lot That Is Nearly 200 Feet Deep, With Plenty Of Parking And A Garage, And You Have A Recipe For The Perfect Home, Whether You Are Starting Out Or Downsizing. Brand New Kitchen With Granite Countertops And Stainless Steel Appliances. Main Floor Laundry Room With Brand New Washer And Dryer. Currently Set Up As A Two Bedroom Home But The Dining Area Could Easily Be Transformed Back Into A Third Bedroom. Located In A Convenient West Galt Location Close To Downtown, Shopping, Schools And Parks. If You Like The Idea Of A Charming Century Home With Characteristics Like 9 Foot High Ceilings But Don't Want To Take On A Project, This Home Is Ideal. (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 (%)
2.70%
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
$3,119
Attention Investors, Downsizers Or First-Time Home Buyers This Home Offers Buyers A Great Opportunity To Enter The Real Estate Market. This Super Cute Two Bedroom One Bathroom Freehold One Level Home Has Loads Of Potential. Offers No Stars To Climb, Great Flow With A Spacious Private Backyard In A Very Mature Quiet Neighborhood. Close To All Amenities, Easy Hwy Access And Centrally Located. This Home Is Extremely Affordable With Low Taxes And Utilities Cost. This Is A Must See. Don't Miss This Opportunity, This Home Won't Last!! (Id:23934)
CALL1.877.896.6727
Property Price
$499,999
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$25,000
Mortgage Insurance ($)
$19,000
Mortgage Required ($)
$493,999
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,475
Mortgage Insurance PST
$1,520
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,495
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$30,495
Monthly Payment
$2,262

Mortgages In Cambridge

Close enough to commute to Toronto (97 KMs), but embracing a small-town feel is just the beginning of the reasons why home buyers should investigate buying a home in Cambridge. It is the location of Cambridge (both sides of highway 401) that makes it also proximal to London, Kitchener, Waterloo & Guelph. The beauty of this smaller city is thanks to Speed River & Grand River, which provoked incorporation of numerous parks & trails for all to enjoy. Home buyers will be pleasantly surprised with the affordability of the homes here, which should be yet another reason to check out the MLS listings! When considering a new home (and if you are thinking about a mortgage), then it is smart to check out the Cambridge mortgage calculator to establish affordability. Wondering what type of mortgage product you would choose as the means of purchasing your new home? There are a lot of facts and information that you should be familiar with so that you can make sound financial decisions (this is a big leap financially, and it can be difficult to alter a mortgage once it is in writing and signed off by you). The mortgage calculator is only one of many helpful tools at your disposal that can bring you up to speed on how the numbers work to arrive at that monthly payment amount.
When looking into mortgage types for your new home in Cambridge, you will discover there are many different kinds that all perform a certain way individually. If you did investigate a mortgage calculator to use, then you would also see a mortgage comparison calculator. Comparing different mortgages is a great strategy, as there are some mortgage products that you may not be aware of. You are probably already familiar with mortgages like fixed rate mortgages, adjustable rate mortgages, variable mortgages, but do you know that a hybrid mortgage can start out as a variable rate mortgage then switch over to a fixed rate mortgage? Did you know that you can have either an open mortgage that gives you the option to pay off your mortgage loan early or shorten/lengthen your loan schedule without any penalty? Are you aware of what a closed mortgage is? A closed mortgage sets the terms and interest rate then locks it up so there is no room for renegotiation through a set term. Did you know that your down payment amount can dictate whether you could get approved for a conventional mortgage? If you already have a mortgage loan and another home or property, you will then learn about other types of mortgages.