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

Welcome To 162 Dawn Crescent, A Beautiful, 2-Storey Home Located Just Mins Away From The 401 In Hespeler. This 4 Bed, 2.5 Bath Home Has Been Lovingly Updated And Is Perfect For Any Growing Family. As You Enter Into The Carpet Free Main Floor, You'll Find A Stunning Kitchen With Corian Countertop, Stainless Steel Appliances, A Separate Eat-In Area As Well As A Walkout To The Upper-Level Deck, Which Allows The Perfect View Of The Backyard. The Living Room Is Filled With An Abundance Of Natural Helping To Highlight A Fabulous Accent Wall Your Guests Are Sure To Compliment! Upstairs, You'll Find A 4 Piece Bath (Updated 2016) And Four Bedrooms, Including The Spacious Master. Heading Downstairs, You'll Discover The Professionally Finished Basement Recently Renovated In 2017 Complete With A Wet Bar And Stone Accent Wall Featuring An Electric Fireplace, And Top It Off With A Built In 5.1 Surround Sound System. Either Way, We're Sure You'll Relish In The Comfort Of This Gorgeous Space. The Basement Also Offers A Walkout To The Lower Level Of The Fully Fenced Backyard, Which Includes A New Interlock Patio You Can Watch Your Kids Enjoying The Playset. The Walk Up To The Front Of The Home Makes This Home Easily Accessible On All Levels. Attic Insulation Updated In 2016, Roof 2015, Main Floor Premium Vinyl Flooring 2018, Interlock Driveway 2018, Interlock Patio 2019, Deck 2015, Fence 2016, 7 Stage Reverse Osmosis System 2019, Book Your Viewing For This One Today! (Id:23934)
CALL1.877.896.6727
Property Price
$600,000
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$35,000
Mortgage Insurance ($)
$22,600
Mortgage Required ($)
$587,600
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$8,475
Mortgage Insurance PST
$1,808
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,783
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$42,783
Monthly Payment
$2,401
Character Filled Residence In The Heart Of **Cambridge**, End Unit Town Home, Side Ravine View With Premium Lot Size Looks Like Semi Detached. Spacious 3 Bedroom + 3 Wr, Open Concept 2Nd Floor With Living Room & Spacious Kitchen With Breakfast Area Walk Out To Balcony. Master Bedroom Ensuite Washroom With His & Her Closet. Laundry On Main Floor & Closet. Minutes Away From Hwy 401, School, Malls, Conestoga College & Much More.**** Extras **** All Appliances Included Stainless Steel Fridge, Stove, Built-In Dishwasher, Washer & Dryer, Central Air Conditioning, All Elf's, Great Opportunity For 1St Time Home Buyer Or Investor. (Id:23934)
CALL1.877.896.6727
Property Price
$489,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,495
Mortgage Insurance ($)
$18,616
Mortgage Required ($)
$484,021
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,273
Mortgage Insurance PST
$1,489
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,757
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$29,757
Monthly Payment
$1,978
Great Opportunity For First Time Home Buyers & Investors.Bright And Spacious End Unit Townhouse. Ground Level Bedroom! Breakfast Area With Walkout To Balcony. Open Concept Layout. Minutes Away From Hwy 401, School, Malls, Conestoga College & Much More. Seeing Is Believing. Potl Fees $134.67 Including Hst.**** Extras **** Stainless Steel Stove, Stainless Steel Stove, Stacked Front Load Washer And Dryer,Ac, All Electrical Light Fixtures. Water Softener And Hot Water Tank Is Rental. (Id:23934)
CALL1.877.896.6727
Property Price
$575,000
Minimum Down Payment (%)
5.65%
Minimum Down Payment ($)
$32,500
Mortgage Insurance ($)
$21,700
Mortgage Required ($)
$564,200
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$7,975
Mortgage Insurance PST
$1,736
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$43,711
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$39,711
Monthly Payment
$2,306
This Property Sits On A Nice Size Lot In An Excellent Hespeler Location That Backs Onto Forbes Park. Features 3 Bedrooms, 2 Bathrooms, And A Finished Walk-Out Basement. Updated Kitchen With White Cabinetry, New Laminate Flooring Throughout Main Floor And 2Nd Level. Upgraded Steel Roof, Updated Electrical (2019), New Furnace (2019), New Water Heater (2019) And Air Conditioner (2019). This Home Conveniently Backs Onto Forbes Park, Which Features Tennis Courts, Playground Etc... Close To Schools, Transit, Shopping And Walking Distance To Hespeler Village. (Id:23934)
CALL1.877.896.6727
Property Price
$449,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$22,495
Mortgage Insurance ($)
$17,096
Mortgage Required ($)
$444,501
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$5,473
Mortgage Insurance PST
$1,368
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$30,836
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$26,836
Monthly Payment
$1,816
No Showings Or Any Person Signing At This Time Due To Covid-19. Seller Doesn't Have Covid-19. Very Well Maintained Large 1900 Square.Ft. Condo With Livingroom, Dining Room, 3 Season 20 Ft By 8 Ft Sunroom With Floor To Ceiling Windows And Master Bedroom All Overlooking Park Like Setting With Creek. Sliders From Master Bedroom And Living Room To Sunroom. Large Principal Rooms Great For Entertaining. Master Bedroom Has Large Walkin And Ensuite. Extra Feature Is A Row Of Storage Closets In Hall Plus The Exclusive Storage Unit In Front Of Vehicle In Underground Parking. Kitchen Cabinets Have Many Extras And Pantry. The Condo Fee Includes The Soft Water, Water, Hot Water, Heat, Party Room, Storage, Common Elements, Maintenance Of Grounds And In-Suite Laundry. Owner Pays Own Hydro But Heat And Water Included. Only Minutes To South Cambridge Plaza And Bus Stop Right In Front Of Building. This Large Condo Is A Pleasure To Show. Only Minutes To South Cambridge Plaza And Bus Stop In Front Of Building. (Id:23934)
CALL1.877.896.6727
Property Price
$439,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,995
Mortgage Insurance ($)
$16,716
Mortgage Required ($)
$434,621
Best Mortgage Rate (%)
1.69%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$5,273
Mortgage Insurance PST
$1,337
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$30,105
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$26,105
Monthly Payment
$1,776

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.