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

Immerse Yourself In Natural Tranquility Just Minutes From The City. Surround Yourself In Nature At This Home, Perched On Top Of A Hill Overlooking 7+ Acres Of Treed Privacy. This Home Offers A Offers Approx. 3000Sq Ft With Open Layout With Windows On All Sides Capturing Views Of The Forested Setting. Main Floor Offers Vaulted Ceilings. The 4 Beds In The Lower Level Ft. Floor To Ceiling Windows. All Baths Have Been Recently Renovated. A Wrap Around Balcony With Glass Panels Allows One To Feel Immersed In Nature. There Is Additional Living Space With Screened In Muskoka Room (24X14) Offering 3 Seasons Enjoyment. The Home Boasts 3 Wood Burning Fireplaces. A Custom 20X40 Inground Saltwater Pool With Stone Decking & Pool Shed Are Awaiting Warm Weather Enjoyment. Current Owners Have Enjoyed Beekeeping, Raising Chickens & A Vegetable Garden. Home Can Be Heated With Heat Pump Or Wood Burning Furnace. Owned Solar Panels General Annual Income Of $2000. This Is A Unique Package In A Fabulous Location. Room Size Approximate. (Id:23934)
CALL1.877.896.6727
Property Price
$2,199,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$439,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,759,920
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$41,473
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$482,953
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$478,953
Monthly Payment
$10,076
This Beautifully Updated, Move-In Ready Raised Ranch Bungalow With Over 2000Sqft Of Finished Living Space Is The Home You Have Been Waiting For! Situated On A Desirable Street Featuring A Beautiful In-Law Suite With Separatebasement Entrance. This Home Features Engineered Hardwood Floors Throughout The Main Level, Fully Remodeled Upstairs Bathroom, A Refinished Kitchen And Has Been Professionally Painted. Furnace, Ac & Roof Updated 2020. This Home Is Conveniently Located With Easy Access To The Red Hill Pkwy, Qew, Transit, Shopping, Restaurants & More! (Id:23934)
CALL1.877.896.6727
Property Price
$799,999
Minimum Down Payment (%)
6.87%
Minimum Down Payment ($)
$55,000
Mortgage Insurance ($)
$29,800
Mortgage Required ($)
$774,799
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$12,475
Mortgage Insurance PST
$2,384
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$71,359
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$67,359
Monthly Payment
$4,436
This Is The Property You Have Been Waiting For! Over 22 Acres With A 4,500 Square Foot Shop, A 2,600 Square Foot Home, And A Heated Pool. The Shop Is Currently Outfitted As A Retail Fixture Making Business And Features In-Floor Heating, Forced Air Heating, Office Area, Bathroom, Separate Well And Septic, And Large Overhead Doors With Direct Access To The Road. The Workshop Area Is Zoned Commercial (As Per Seller, Buyer To Verify). This Custom-Built Home Features A Large Main Floor Plan With Sun-Kissed Kitchen, Dining Room, Family Room With Wood Burning Fireplace, Office, Powder Room And Mud Room. Upstairs You'll Find 4 Generous Bedrooms. The Primary Suite Has A Separate Sitting Are (Or Use Was An Office), Walk-In Closet, And A 5-Piece Ensuite With Soaring Ceilings. The 3-Piece Guest Bath Completes The 2Nd Level. The Partially Finished Basement Features A Walk-Up To The Backyard -Perfect For Future In-Law Setup. Room Size Approximate. (Id:23934)
CALL1.877.896.6727
Property Price
$3,199,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$639,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$2,559,200
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$66,450
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$707,750
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$703,750
Monthly Payment
$14,652
Escape The Hustle And Bustle Of The City Without Sacrificing Convenience! This Charming Straightbungalow Sits On A Sprawling 10-Acre Lot, Offering The Privacy And Space Youve Been Dreaming Of.Located Just Minutes From Hamilton, This Property Provides Easy Access To All The Amenities Andemployment Opportunities The Thriving City Has To Offer. Featuring 4 Bedrooms And 3 Bathrooms, Thishome Is Perfect For A Growing Family. The Expansive Layout Ensures Everyone Has Room To Relax Andunwind. With Your Personal Touches, This House Can Truly Become Your Dream Home. Key Features:10 Acres Of Land: Plenty Of Space For Outdoor Activities, Gardening, And More4 Spacious Bedrooms: Ideal For Families Of All Sizes3 Bathrooms: Convenience And Comfort For Everyone20 X 30 Workshop: Perfect For Hobbies, Projects, Or Extra Storageclose To Hamilton: Quick Access To Employment, Shopping, Dining, And Entertainment. **** Extras **** Make The Move Today And Start Creating Lasting Memories In This Fantastic Home! (Id:23934)
CALL1.877.896.6727
Property Price
$1,549,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$309,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,239,920
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$27,473
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$338,953
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$334,953
Monthly Payment
$7,099
Welcome To This Boutique-Style, Meticulously Maintained Complex Nestled In A Serene Location. Adjacent To The Dundas Conservation Area, The Community Offers Easy Access To Numerous Biking And Hiking Trails, Making It An Ideal Haven For Outdoor Enthusiasts. Situated Within Walking Distance Of Dundas Centre, Residents Enjoy Convenient Access To An Array Of Exceptional Restaurants, Art Galleries, Shopping Destinations, And Recreational Facilities. Families Will Appreciate The Proximity To Two Elementary Schools And A High School, Making It An Ideal Choice For Those With Children. The Unit Boasts A Thoughtfully Designed Layout, Featuring A Spacious Living Room Adorned With A Cozy Fireplace And A Generously Sized Dining Area Overlooking The Lush Garden. The Kitchen Offers Ample Space For A Breakfast Nook And Is Equipped With Modern Amenities. With Three Bedrooms, Including A Master Suite Complete With A Fully Renovated En-Suite Bath And His & Her Closets, Comfort And Convenience Are Paramount. Hardwood Flooring Graces The Primary And Second Floors, Adding Warmth And Elegance To The Living Spaces. The Finished Basement, With Its Three-Piece Bath, Presents Versatile Opportunities. Meticulously Maintained And Move-In Ready, The Unit Features Newer Windows And A Roof, Ensuring Peace Of Mind For Homeowners. Maintenance Includes Water, Grass Cutting, And Snow Removal, Further Enhancing The Ease Of Living In Our Community. Public Transportation Only 200 Metres Away! (Id:23934)
CALL1.877.896.6727
Property Price
$699,800
Minimum Down Payment (%)
6.43%
Minimum Down Payment ($)
$44,980
Mortgage Insurance ($)
$26,193
Mortgage Required ($)
$681,013
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$10,471
Mortgage Insurance PST
$2,095
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$59,046
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$55,046
Monthly Payment
$3,899

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.