Hamilton 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 Hamilton 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

Hamilton Mortgage Calculator Examples

Award Winning Home. Features Include: Heated Slate Floors In Kitchen And Bathroom, Carrera Marble In Kitchen And Bathroom, 2 Fireplaces, 9Ft Cielings On Main Floor, 3 Bedrooms On Main Floor, Basement Inlaw Suite With Full Kitchen, Bathroom And Separate Entrance. Custom Composite Slate Roof (50 Year Warranty). Inground Pool And Hot Tub. Visit Website For More Info.**** Extras **** Stainless Steel Fridge, Stove, Gas Range Stove. Basement: Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel. Dishwasher, Washer And Dryer. (Id:23934)
CALL1.877.896.6727
Property Price
$698,900
Minimum Down Payment (%)
6.42%
Minimum Down Payment ($)
$44,890
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$10,453
Mortgage Insurance PST
$2,093
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$58,936
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$54,936
Monthly Payment
$3,044
Enjoy Many Peaceful Scenic Moments With The Privacy Of This Large 14-Acre Property (7 Acres Cleared) And A 40X80ft Barn On A Quiet Dead-End Road. Nicely Renovated Included Kitchens, Baths, Windows2017, Furnace 2015, Air Conditioner 2019 And Features Many Modern Rustic Elements With Plenty Of Storage. Finished Man Cave And Servery With A Walkout From A Heated Workshop.Private One Bedroom Living Area, Separate Entrance, Kitchen, Bath Ideal For Extended Family (Id:23934)
CALL1.877.896.6727
Property Price
$1,999,500
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$399,900
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$36,465
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$437,865
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$433,865
Monthly Payment
$7,158
Beautiful 2 Storey Freehold Town. Nice Open Concept Main Floor With Upgraded Cabinets In Kitchen With Granite Countertops. Upgraded Tile In The Front Entrance. Upgraded Vanities In Both Upstairs Bathrooms. Oak Staircase And California Shutters Throughout. Fully Fenced Backyard With Covered Porch And Access From Street. Rough In For Bath In Basement. Close To All Major Amenities, Bus Route, Schools And Sports Complex. (Id:23934)
CALL1.877.896.6727
Property Price
$548,990
Minimum Down Payment (%)
5.45%
Minimum Down Payment ($)
$29,899
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$7,455
Mortgage Insurance PST
$1,661
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$40,515
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$36,515
Monthly Payment
$2,416
Spacious 4Bdrm All Brick Home In A Desired Winona. Across From Neighbourhood Park & Walking Distance To Shopping Centre. Access To Qew @ Fifty Rd. 2 Great Elementary School Options. Centre Hall Plan Has Formal Liv & Dinrms, Lrg Eat-In Kitchen With Pantry Closet, Main Flr Famrm With Gas Frpl & Convenient Main Flr Laundry Off Garage. 2Nd Flr Has 4 Bdrms, 2 Full Bths & Master Bedrm Walk-In Closet.**** Extras **** Inclusions: Fridge, Stove, Washer, Dryer (Id:23934)
CALL1.877.896.6727
Property Price
$699,900
Minimum Down Payment (%)
6.43%
Minimum Down Payment ($)
$44,990
Best Mortgage Rate (%)
2.49%
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
$3,048
Amazing Home In Superb Location Close To Elementary Schools. Updated Kitchen With Granite Counters, Double Undermount Sink & Walk Out To Deck & Back Yard. Main Floor Family Room With Vaulted Ceiling, Skylights & Fireplace. Updated Flooring. Master Bedroom Features A Walk-In Closet & Peaceful Ensuite. Basement Features Recroom, Powder Room & Plenty Of Storage Space Including A Cedar Lined Closet**** Extras **** Rental: Hwh Inclusions: 2 Fridges, Gas Stove, Freezer, Washer, Dryer (Id:23934)
CALL1.877.896.6727
Property Price
$629,900
Minimum Down Payment (%)
6.03%
Minimum Down Payment ($)
$37,990
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,073
Mortgage Insurance PST
$1,894
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$50,457
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$46,457
Monthly Payment
$2,755

Mortgages In Hamilton

Highly attractive to anyone who enjoys the great outdoors and exploring nature, Hamilton is a large city that is nestled by Lake Ontario and many parklands, which makes for a fantastically-balanced lifestyle! This city is close to Burlington, Oakville & Toronto and quite literally possesses a smorgasbord of neighbourhoods that reflect the arts, education, in-depth culture & heritage. Ergo, the residential real estate follows suit with diverse properties. Known for its affordability, Hamilton is an ideal place for first time home buyers! Apartment/condominium conversions, hard & soft lofts, newer & older townhomes, mid-rise condominiums, single family homes, and larger houses are just the beginning with the realty that this great city offers. Finding the right home in the right neighbourhood and within a set budget can be a reality, and to get you started, why not crunch some numbers using a Hamilton mortgage calculator? One of the biggest questions home buyers have is 'how much mortgage can I afford'? This is where a mortgage calculator can help. By directly and privately entering pertinent information into the fields of this calculator, it can offer you insight as to how a monthly interest rate & principal loan amount (over a period of years) unfolds for you financially.
Part of planning your finances to be geared towards a big commitment like purchasing a home through a mortgage loan is to take into consideration just how much money you have 'tucked away' as the down payment and if there is enough there to cover closing costs. Many first time home buyers should be aware of the criteria that most lenders look for when processing an application for a mortgage loan. Lenders in Hamilton like major banks have strict criteria and typically like to see great credit rating, a large down payment (that has been saved and not borrowed), a stable & verifiable income that will support a mortgage & home upkeep and some security other then the collateral that the purchased home will provide. Lenders will work hard to try to make a mortgage loan possible, but the better prepared you are financially, the better your chances are of getting a wider berth of mortgage loan products offered to you. The less risk you pose to the lender, the more the lender can be flexible with the loan parameters and even offer you pre-approval, which can go a long way with sellers. A mortgage calculator is a huge plus to get you started, so you have a good idea of where your comfort zone is financially.
The journey to home ownership is not as far out of reach as you may think, for many lenders take a hard look at the real estate/property that you are interested in (which can either result as a benefit or hamper the mortgage application). The location of the property is just as important to the lender as the property itself, so together, if the home and the Hamilton neighbourhood it is in are ideal for resale or a rise in value over time, then the lender will be more confident about loaning the monies to secure this home. Besides a mortgage calculator, home buyers have access to a multitude of other calculators & tools and can work out various strategies. Home ownership is a long-term investment that will grow equity over time, and ideally, the opportunity to save some money is to pay off the mortgage loan as soon as possible to avoid additional interest payments. Choosing the right mortgage loan product that allows for early payoff (like an open mortgage) is a popular choice with many first time home buyers. Fixed rate mortgages locks in a fixed interest rate and a variable rate mortgage lets the interest rate change in frequency with the market.