London 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 London 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

London Mortgage Examples

One Of A Kind, Former Dream Home. Custom & Exclusively Built By Wasko. Stunning Approx.2868 Square Feet 2+2 Bedroom Bungaloft,Double Car Garage On The Corner Lot, Rare To Find. Welcoming Entry To The Open Concept Main Level With High Ceilings, Hardwood Flrs And Crown Moldings Throughout. Spacious Great Room With Huge Windows, Custom Drapes, Valances & Shade Rollers. Double Sided Fireplace. Formal Dining Room With Tray Ceiling. Gourmet Kitchen With A Walk-In Pantry, Granite Countertops, Built In Miele Coffee System & Walk-In Cedar Wine Cellar. Bright Eating Area With A Terrace Door To Sundeck With Pergola Style Roof. Huge Master Bedroom Has A Massive Ensuite, Custom Glass Shower, Jetted Tub, Bidet,Double Vanity & A Door To The Outside Hot Tub.Walk-In Closet With Built-Ins. Second Floor Loft Has 2 Bedrooms, Seating Area & Full Bathroom. Unspoiled Basement With A Rough-In Bath & Cold Room. Extensive Landscaping, Custom Decks, Concrete Patio, Sprinkler System, Hot Tub, Audio / Video Hookups & Storage Shed With Electricity. (Id:23934)
CALL1.877.896.6727
Property Price
$849,900
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,990
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
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
$3,676
What A Find! Come View This Charming 3 Bedroom, 2 Storey In South London Boasting Many Updates. Master Bedroom Offers Ensuite And Walk-In Closets, Double Car Garage With Newer Insulated Door And With Opener And Inside Entry, Cement Driveway. Main Floor Has Never Low-E Triple Pane Windows, Updated Oak Kitchen With Newer Countertop And Under Cabinet Lighting. Double Pane Windows In Upper, Lower Level Is Professionally Fully Finished. Furnace Is 92+ Variable Speed / Variable Burner With Central Air And Electronic Air Cleaner. Newer Exterior Doors And Patio Door, Interior Doors, Large Fully Fenced Yard With Sundeck And Storage Shed. All Newer Appliances Stay. Central Vac With Attachments. Excellent Value! (Id:23934)
CALL1.877.896.6727
Property Price
$419,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,995
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$4,873
Mortgage Insurance PST
$1,276
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$28,644
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$24,644
Monthly Payment
$1,856
Fantastic 2 Story Family Home Situated At The End Of A Quiet Cul-De-Sac. Home Features Open Concept Main Level With 9' Ceilings, Hardwood / Ceramics, Liv Room With Gas Fireplace, Eat-In Kitchen With Island, Office That Could Double As A Formal Dining Room, Half Bath & Convenient Main Floor Laundry Room. Sliding Doors Off The Eat-In Kitchen, Lead To A Fully Fenced Yard. The Upper Level Features A Large Master Bedroom With Walk In Closet, Ensuite With A Glass Tiled Shower, 2 Additional Bedrooms And Large 4 Piece Bath. Double Car Garage And Long Driveway With Parking For 4 Cars. This Home Is Conveniently Located Close To All Amenities Schools, Shopping, Restaurants, White Oaks Mall And Highway 401. Call Today To Book Your Private Viewing !! (Id:23934)
CALL1.877.896.6727
Property Price
$469,888
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,494
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,873
Mortgage Insurance PST
$1,428
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$32,296
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$28,296
Monthly Payment
$2,077
Great Opportunity To Reside In "Sought After" Orchard Park. Shingles, Furnace, Central Air Approx. 10 Yrs. Windows Approx 10 Yrs. Beautiful Treed 65' X 110' Lot. Steps To Uwo, University Hospital And Amenities. Don't Miss This One! (Id:23934)
CALL1.877.896.6727
Property Price
$379,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$18,995
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$4,174
Mortgage Insurance PST
$1,155
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$25,823
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$21,823
Monthly Payment
$1,680
**Investor Alert** Valid Licence With The City Of London, Fully Rented For $2475 / Month Inclusive Until Aug 2020, Classic Low Maintenance Bungalow Consists Of 5 Legal Bedrooms And 2 Full Bathrooms! Close Proximity To Fanshawe College, Bus Stops, Grocery Stores, Recreation Centers, Arenas And Parks, This One Will Always Rent Out! Clean Finishes, With Updated Flooring Throughout This One Is Sure To Impress! Don't Wait, Call Or Text Today (Id:23934)
CALL1.877.896.6727
Property Price
$389,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,495
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$4,324
Mortgage Insurance PST
$1,185
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$26,504
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$22,504
Monthly Payment
$1,724

Mortgages In London

Quite literally surrounded by golf courses, parklands and the Thames River, London is an all-inclusive city that thrives on culture & the arts, opportunities in business, sports, and academics. The real estate market in this city is just as creatively smart, with large executive homes, single family houses, new development condominiums, and everything in-between. Home buyers will love the wealth of options with this city and its realty! With the idea of a new home usually comes the thoughts of a mortgage, but where do you start? While looking at the MLS listings for this city, why not pick a few that catches your eye, then try out the London mortgage calculator? A mortgage calculator is a fun and fast way to see what your monthly payments would be like versus the purchase price of the homes. Not everyone is a pro when it comes to purchasing a home, so for those first-time home buyers, there is some upfront information you should have in your back pocket before seeing about a lender and a mortgage loan. To simplify what a mortgage loan is, the various kinds of mortgages and the entities that offer to loan the money to borrowers for a mortgage loan; think of a mortgage loan as a series of steps.
A mortgage loan basically puts a borrower up against the costs associated with a specific home to see if they are 'compatible' financially. A lender wants to shoulder as little risk as possible and looks for a borrower that is stable financially (good credit rating, solid income, little-to-zero debt, owns assets, has saved a substantial down payment, and can cover all costs involved in a property purchase transaction). London real estate reflects affordability with all kinds of budgets, and like the mortgage calculator that is at your disposal, lenders also use software to find out where you stand financially (pre-qualifying or pre-approval). Besides regular banks & credit unions, borrowers can also look to insurance companies, loan companies, mortgage companies, and trust companies for a mortgage loan (each entity has their own qualifying criteria and mortgage products can vary). The trick to securing a great mortgage loan is to shop around and negotiate with more then one lender to see which one is going to work in your best interest. It is beneficial to you if you go through the pre-approval process to know exactly how much a lender is willing to loan you (now you have a workable bottom line of your true budget).
When buying a new-to-you home in London, there will be a lot of little extra costs that may not be on the forefront of your mind outside of the costs of purchasing the property. It is a smart idea to make a list of expenses that you will incur upon closing the deal on your home such as moving expenses, new utility hook-ups, any upfront maintenance or renovations, property taxes, appraisal, and additional inspection. What kind of mortgage loan product did you decide on? Did you go for a fixed rate mortgage? Was a variable rate mortgage more appealing? Is your mortgage open or closed? Is your mortgage a low ratio or high ratio? Did you opt for a split between both fixed rate & variable rate mortgage? Did you manage to secure the best interest rate possible? How are your monthly payments made; is it bi/weekly, semi-monthly or monthly? As you can see, there is a substantial amount of information that you will need to process in order to get the most beneficial mortgage loan product from the right lender. There is a mortgage calculator that can additionally figure out other information, such as incorporating not only the purchase price, interest rate & amortization period, but you can also enter the property taxes, how you want to make your monthly payments, the type of mortgage, and more.