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 Calculator Examples

Welcome To 757 Wharncliffe Unit 10! This Spacious Townhouse Features 3 Bedrooms, 3 Bathrooms, Large Windows And Laminate Flooring Throughout! On Entering The Home You Are Greeted Into A Stylish, Bright, Updated Kitchen With Stainless Steel Appliances With Contrasting Black Hardware. The Glass Tile Backsplash Adds A Sense Of Sophistication And Luxury To The Space That Pulls Everything Together. As You Make Your Way Past The Kitchen You Are Greeted With A Large Living / Dining Area With A Built In Electric Fireplace That Adds Warmth To The Area. Perfect For Entertaining, The Natural Flow Of The Main Floor Provides An Ideal Space For Family And Friends To Gather Together. On The Upper Level You Will Find The Primary Bedroom, As Well As 2 Nice Sized Bedrooms And A Full Bathroom. As You Make Your Way To The Fully Finished Basement, You Will Be Surprised At The Amount Of Space That You Will Have. There Is A Large Recreational Room Awaiting Your Own Personal Touches, Whether It Is A Hobby Area, Personal Gym, Tv Room, The Possibilities Are Endless. You Will Also Find A Beautiful Bathroom, With A Modern Stand Up Shower As Well As A Bright Laundry Area. Outdoors You Have Your Own Dedicated Space, For Outdoor Activities. This Home Is Located Close To Shopping, Transit, Schools And So Much More! Pics Are From Prior To Current Tenants Residency (2021 To Current). Tenant Has Given Notice That They Will Be Vacating By June 1St, 2024 For Vacant Possession. (Id:23934)
CALL1.877.896.6727
Property Price
$429,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,495
Mortgage Insurance ($)
$16,336
Mortgage Required ($)
$424,741
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,073
Mortgage Insurance PST
$1,307
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$29,375
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$25,375
Monthly Payment
$2,432
Wow!!! A Detached For The Price Of A Townhouse!!!!Welcome To 502 Norfolk Place! This Move-In-Ready Two-Story Home, Nestled In A Peaceful Cul-De-Sac In Northeast London, Boasts 3 Bedrooms, 2 Bathrooms, And Beautiful Finishes Throughout. The Main Floor Offers Inviting Living And Dining Rooms With Hardwood Flooring And A Bright Bay Window. The Kitchen Features A Gas Stove, Stainless Steel Fridge / Freezer, Recently Updated Countertops (2017), And Modern Tile Floors (2018). Upstairs, You'll Find Three Generously Sized Bedrooms With Hardwood Flooring And A Well-Appointed 4-Piece Bathroom. The Lower Level Offers A Spacious Family Room, A Second Bathroom, A Laundry Room, And Ample Storage. Step Into The Pie Shaped Backyard To Discover A Charming Stone Patio Overlooking The Oversized, Fully Fenced Yard—Perfect For Entertaining Friends Or Enjoying A Peaceful Coffee While Watching The Kids Play. Don't Miss Out On This Opportunity—Make 502 Norfolk Place Your New Home Today! (Id:23934)
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Property Price
$599,999
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$35,000
Mortgage Insurance ($)
$22,600
Mortgage Required ($)
$587,599
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
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
$3,364
Welcome To 494 Commissioners Rd E, A Remarkable Bungalow In South London. Step Through The Spacious Front Foyer Into The Bright And Airy Living Room, Complete With An Inviting Electric Fireplace And A Convenient Door Leading To The Backyard Patioan Ideal Spot For Entertaining Or Enjoying Serene Evenings Beneath The Stars. The Heart Of The Home Lies In The Well-Appointed Kitchen, Boasting An Island, Stainless Steel Appliances (Including A Gas Stove), A Breakfast Area, And Ample Counter And Cupboard Spaceperfect For The Culinary Enthusiast Or Busy Family. Adjacent Is A Separate Dining Room, Offering An Ideal Setting For Hosting Dinner Parties Or Intimate Family Meals. Find Peace And Tranquility In The Cozy Den, Adaptable For Use As A Home Office, Library, Or Relaxation Area. Retreat To One Of The Three Generously Sized Bedrooms For Rest And Rejuvenation, Complemented By Two Full Bathrooms On The Main Level. Descend Downstairs To Discover The Ultimate In-Law Suite, Featuring A Spacious Family Room, A Combined Kitchen And Recreation Room, Two Additional Bedrooms, A Bonus Room, And A Convenient Laundry Room With A Sink. Completing The Lower Level Isa Three-Piece Bathroom, Ensuring Comfort And Privacy For Guests Or Extended Family Members. Step Outside To Your Own Backyard Oasis, Where Outdoor Living Reaches Its Pinnacle. Lounge By The Sparkling In-Ground, Salt Water Pool, Installed In 2018, Or Unwind On The Expansive Stamped Concrete Patio Spaces. Gather Around The Fire Pit Area For Cozy Evenings With Loved Ones, While The Two Sheds Provide Ample Storage For Outdoor Essentials. Beautiful Gardens And Sprawling Grass Space Offer Endless Opportunities For Outdoor Activities, Making This Backyard The Perfect Retreat For Both Pets And Kids. With Driveway Parking For 7 Vehicles And A Single-Car Attached Garage, Convenience Seamlessly Blends With Functionality In This Exceptional Property Which Is Conveniently Located Near Victoria Hospital, Schools, And Shopping Amenities. (Id:23934)
CALL1.877.896.6727
Property Price
$899,900
Minimum Down Payment (%)
7.22%
Minimum Down Payment ($)
$64,990
Mortgage Insurance ($)
$33,396
Mortgage Required ($)
$868,306
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$14,473
Mortgage Insurance PST
$2,672
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$83,635
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$79,635
Monthly Payment
$4,971
Experience The Epitome Of Comfort And Elegance In This Meticulously Crafted Home In London's Oakridge Neighborhood. Boasting Over 2000 Square Ft, It's Ideal For Family Living And Entertaining. With Two Kitchens, Office, And Extra Bedroom On The Main Floor, Plus Three Spacious Bedrooms Upstairs, It Caters To Every Need. The Basement's Full Washroom And Large Recreation Room Offer Additional Space. Natural Light Floods In Through Large Windows, Creating A Warm Atmosphere. Outside, Enjoy The Private Backyard Oasis. Don't Miss The Opportunity To Make This Exceptional House Your Home, With Potential For A Legal Duplex Generating $4700 / Month In Rental Income. Schedule A Viewing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$890,000
Minimum Down Payment (%)
7.19%
Minimum Down Payment ($)
$64,000
Mortgage Insurance ($)
$33,040
Mortgage Required ($)
$859,040
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$14,275
Mortgage Insurance PST
$2,643
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$82,418
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$78,418
Monthly Payment
$4,918
Welcome To 12 Silverdale Crescent! The Property Is Located In A Beautiful Neighborhood On A Quiet Crescent With Direct Forest Access And Is Adjacent To Glen Cairn Public School. It Is Walking Distance From Victoria Hospital, Close To All Amenities, And Near The Major 401-Highway. The Home Features A Large Fenced-In Backyard With A Spacious Patio And Shed, A Large Double-Wide Driveway, And An Attached Garage. The Main Floor Highlights A Renovated Kitchen With A Stainless Steel Refrigerator, Gas Stove And Built-In Microwave And Dishwasher. Hardwood Floors Cover The Living Room And Dining Room. Upstairs You Will Find Three Comfortable Bedrooms And A Full Bathroom With Tiled Tub Surround. The Home Has A Separate Entrance At The Rear Of The House That Leads Directly To A Renovated Family Room In The Lower Level. You Will Also Find In The Lower Level Another Bathroom, A Laundry Room, And A 400Sqft Crawl Space - Great For Ample Storage. All Windows In The Home Are Vinyl, Blown Insulation Has Been Added To The Attic And Walls, And The Basement Walls Have Spray Foamed For Energy Efficiency. Other Notable Updates Include Air Conditioner (2021), Soffit Fascia And Siding (2021), 220 Amp Garage Outlet. Reach Out Directly Or Contact Your Realtor For A Private Showing! (Id:23934)
CALL1.877.896.6727
Property Price
$649,999
Minimum Down Payment (%)
6.15%
Minimum Down Payment ($)
$40,000
Mortgage Insurance ($)
$24,400
Mortgage Required ($)
$634,399
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,475
Mortgage Insurance PST
$1,952
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$52,927
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$48,927
Monthly Payment
$3,632

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.