Clarington Mortgage Calculator
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Enter the amount that you are planning on paying for the property
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Option #1
Option #2
Option #3
Option #4
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Enter the amount that you will pay upfront
toward the property to obtain a mortgage
–
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CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
+
$19,000
$13,950
$11,900
$0.00
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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
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Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
STEP 2
Select province to get current
mortgage rates
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Mortgage type specifies whether the interest
rate is variable or fixed
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Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Select
Select
Select
Select
4.69 %
4.79 %
4.84 %
4.89 %
4.99 %
4.99 %
5.04 %
5.04 %
5.04 %
5.14 %
5.29 %
5.74 %
5.74 %
6.49 %
STEP 3
Select one of the mortgage
rates currently available
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Please select how often you would like
to make your mortgage payments.
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Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
–
–
–
–
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This is an estimate of how much you should expect
to spend upfront in order to make this purchase
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 Clarington are eligible for a Land Transfer Tax rebate of up to $4,000
Clarington Mortgage Calculator Examples
Beautiful 3 Bedroom Freehold Townhome In The Thriving Family Neighbourhood Of Bowmanville! Ground Floor Includes A Bedroom, Laundry, & Access To The Garage. Head Up To The Fantastic Main Floor With Modern Eat In Kitchen That Includes Stainless Steel Appliances & A Walk-Out To The Private Fenced In Backyard. Large Living Room With Bright Windows Bringing In Tons Of Natural Light. 3Rd Floor Boasts 3 Spacious Bedrooms Including A Primary With 3 Piece Ensuite & Walk In Closet.**** Extras **** Right By The Bowmanville Conservation Area, Minutes Away From Parks & Playgrounds, Walking Distance To Schools, Close Easy Access To The 401, Growing Community With Lots Of Shopping, Dining, & Other Amenities! (Id:23934)
CALL1.877.896.6727
Property Price
$679,900
Minimum Down Payment (%)
6.32%
Minimum Down Payment ($)
$42,990
Mortgage Insurance ($)
$25,476
Mortgage Required ($)
$662,386
Best Mortgage Rate (%)
4.69%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$10,073
Mortgage Insurance PST
$2,038
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$56,601
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$52,601
Monthly Payment
$3,736
Welcome To Bradley Estate, A Top-To-Bottom Custom Home On A 70'X 215' Private Lot. A Rare Gem Nestled On A Dead-End Street In Quiet Mitchell's Corners, A Country Setting Minutes To Town. Your Dream Chef's Kitchen With Large Island & Built-In Cooktop Is Complete With Granite Countertops, Built-In Oven And Plenty Of Storage. The Kitchen Connects To A Luxurious Great Room With Vaulted Ceilings, Floor To Ceiling Windows & An Incredible View Of The Private Backyard Where You Can Walk Out To Your 24'X33'oversized, Partially Covered Deck With Built-In Cedar Hot Tub. This Home Offers 2 Fireplaces, 1 Woodburning And 1 Gas, As Well As Built-In Speaker System In All Of The Spacious Entertaining Areas. Your Primary Suite Features Vaulted Ceilings And A Dreamy 9'X14' Walk-In Closet. Retreat To Your Heated Flr Master Bath And Unwind In Your Deep Soaker Tub Or Separate Glass Shower. The Attached Garage And Large Driveway Provides Ample Parking. A Move-In Ready, One-Of-A-Kind, Must-See Home!**** Extras **** New Windows (20), Roof (20), Siding (20), Furnace (20), Septic System (20, Air Conditioner (18) Railings For Front Entry And Back Deck Will Be Installed Before Closing (Id:23934)
CALL1.877.896.6727
Property Price
$1,499,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$299,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,199,920
Best Mortgage Rate (%)
4.69%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$26,473
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$327,953
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$323,953
Monthly Payment
$6,769
Attractive Home In A Family Friendly Neighbourhood! Featuring A Bright Open Concept Main Floor Living / Dining Area Including Walk-Out To Your Spacious Deck And Fenced Private Backyard. Natural Gas Hookup For Barbeque, Perfect For Entertaining! Main Floor Has Convenient Interior Garage Access. Kitchen Upgrades Include New Stainless Steel Sink, Modern Faucet (2023) And Stainless Steel Dishwasher (2020). Upstairs You'll Find A Spacious Master Bedroom Included Walk-In Closet & Large Updated Semi-Ensuite Boasting A Freestanding Tub & Glass Shower! New Energy Star Windows Throughout (2022). A Cozy Finished Basement Invites You To Relax And Unwind, Providing The Ideal Setting For Movie Nights Or Casual Gatherings With Friends & Family. Sought After Courtice Neighbourhood Is Walking Distance To Both Public & Catholic Schools, & Nearby Park With Splash Pad & Tennis Courts. Easy Access To Highways 401, 418, And 407, Mins To Future Go Station. (Id:23934)
CALL1.877.896.6727
Property Price
$649,900
Minimum Down Payment (%)
6.15%
Minimum Down Payment ($)
$39,990
Mortgage Insurance ($)
$24,396
Mortgage Required ($)
$634,306
Best Mortgage Rate (%)
4.69%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,473
Mortgage Insurance PST
$1,952
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$52,915
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$48,915
Monthly Payment
$3,578
Solid Brick Bungalow On A Beautiful Treed Lot, On The Outskirts Of Courtice! Close To All Amenities But Also Can Enjoy The Feel Of Country Living. Easy Access To Hwy 418, 407 And 401! Eat In Kitchen, Open To Dining And Living Area. Spacious Family Room Offers Separate Side Entrance, Garage Entry And Sliding Door Walkout To Large Deck Overlooking The Backyard. Three Bedrooms On The Main Floor Plus A Forth Bedroom, Laundry And Large Workshop In The Basement. So Much Opportunity To Make This Home Your Own, Including Building A Separate Secondary Dwelling!**** Extras **** Double Garage. Gas Furnace Approx. 2017. Air Conditioner 2021. 2 Sump Pumps. 200 Amp Breakers (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 (%)
4.69%
Mortgage Type
5 Years Fixed
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
$3,842
Are You Ready For Sophisticated Suburban Living? This Amazing Family Home Is Understated And Located In A Quiet, Friendly Setting. Much Bigger Than It Looks From Outside, The Classic Layout Boasts Clean Lines & Bright, Airy Living Spaces. Spacious Principal Rooms. Tastefully Updated And Freshly Painted Throughout. Main Floor Features A Laundry Room, Garage Entry, Two Piece Powder Room And And A Handy Pantry. Light Filled Kitchen Overlooking Back Yard. Master Bedroom Features A Private Three Piece Ensuite & A Walk In Closet. Huge Finished Basement Perfect For Growing Families. Recreation/ Gym Area Open Concept - Ready For You To Customize. Private Fenced Back Yard Retreat With Deck & Hot Tub. Just Unpack & Unwind Or Call Your Friends & Family For A Summer Housewarming Barbeque! Lots Of Parking On The Spacious Driveway And A Park A Stone's Throw Away For Little Ones & Sports Enthusiasts. Finish Off With A Fireside Drink In The Family Room. A Must See! (Id:23934)
CALL1.877.896.6727
Property Price
$799,900
Minimum Down Payment (%)
6.87%
Minimum Down Payment ($)
$54,990
Mortgage Insurance ($)
$29,796
Mortgage Required ($)
$774,706
Best Mortgage Rate (%)
4.69%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$12,473
Mortgage Insurance PST
$2,384
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$71,347
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$67,347
Monthly Payment
$4,370
Mortgages In Clarington
Country charm, cozy family-oriented & friendly neighbour communities, and city life all rolled up into Clarington! It is all right here; desirable urban conveniences, country peacefulness, and suburban neighbourhoods all come together to make a home buyer's dream! Nestled within these fantastic neighbourhoods that makes up this city are a variety of real estate options that can tap any budget. Cute smaller homes, larger townhomes, new builds & established homes, lofts & condos... you name it, it exists here (even vacant lots with loads of new home potential!). For buyers that will finance via a mortgage, they should scout out the perfect home and use the Clarington mortgage calculator. You may be familiar with a mortgage calculator, but if you are not, it can be found on your bank website or a mortgage broker website, and you simply enter the cost of the home, choose an interest rate, pick the duration of the loan, and you will have a base monthly payment amount. Your goal here is to see exactly where your affordability is, and by working out important pieces of information regarding the home, you will see that the monthly payment amount plus interest may be in your budget and it may not be in your budget.
The kind of mortgage loan that you have in mind will determine a lot about your mortgage because not only is the interest rate a huge factor, but so is the length of time that you will want to carry the mortgage loan (amount of years). The longer the mortgage loan goes and the amount you pay monthly & the frequency, the more interest you will pay, pure and simple. By using a mortgage calculator, you would have seen right away that the length of time for the loan and the frequency of the monthly payments both have a big impact on the bottom line. Your finances will dictate which kind of mortgage loan that you will qualify for, so doing a bit of research on the various mortgage loan types is important. Clarington is more then affordable for most people and a great financial investment (the location & province of the home is important to lenders, as they need to know they can sell your home fast if you default on the mortgage loan somehow). Lenders also want the reassurance that you will live in the home as opposed to renting it out, as they do not feel comfortable with that risk, just like insurance companies frown on renters as opposed to owner-occupied.