Markham 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 Markham 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

Markham Mortgage Calculator Examples

Amazing Double Garage With Long Driveway Detached Home Rests On A Gorgeous 50.5' X 135' Premium Lot Boasting Lush Gardens, In-Ground Pool, Lots Of Mature Trees For More Privacy. Modern Kitchen With Updated Kitchen Cabinets & Customized Backsplash, Huge Family Room Walk-Out To Backyard, Separate Laundry With More Storage Space & Side Door. Ex-Spacious Master Brm With 4Pc Ensuite. Finished Basement With Wet Bar & 3Pc Bathroom. Top Ranked Schools (Unionville Hs, William Berczy Ps).**** Extras **** All Elf, Stainless Steel Stove, Fridge, Hood Exhaust, Washer, Dryer, Furnace, Central Air Conditioning, Garage Door Opener. Short Walk To Historic Main St Unionville, Toogood Pond, Art Galleries, Shops. (Id:23934)
CALL1.877.896.6727
Property Price
$1,538,800
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$307,760
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,231,040
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$27,251
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$336,511
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$332,511
Monthly Payment
$4,944
Luxury Condo Riverwalk, In The Prime Of Downtown Markham, Beautiful 1 Bedroom Unit , Excellent Layout , 9Ft Ceiling Throughout, Granite Counter, Stainless Steel Appliances, 1 Parking, 1 Locker, 24 Hours Concierge, Indoor Pool, Gym, Theater Party Room, Stops To Public Transit, Mins To 404 / 407. Note: These Pictures Were Taken When Vacant. Large Balcony 90 Square Ft**** Extras **** Staineless Steel Fridge, Stove, Dishwasher, Washer, Dryer, All Window Coverings, Elf's. Measurements And Taxes To Be Verified By Buyer / Buyer Agent. Status Certificate Available . (Id:23934)
CALL1.877.896.6727
Property Price
$499,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,950
Mortgage Insurance ($)
$18,962
Mortgage Required ($)
$493,012
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,455
Mortgage Insurance PST
$1,517
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,422
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$30,422
Monthly Payment
$1,980
Renovated, Detached 4 Bedroom Home In Beautiful Wismer Community. 2225 Square Feet + Approximately 1100 Square Feet Finished Basement. Upgraded Kitchen. Upgraded Modern Washrooms. Hardwood Floors And Oak Staircase. 9 Foot Ceilings On The Main Level. Top Ranked Schools. Walking Distance To Go Train. Kenmore Dishwasher, Range With Rangehood By Crown. Frigidaire Fridge, Maytag Washer & Dryer.**** Extras **** For More Information About This Listing, More Photos & Appointments, Please Click ""View Listing On Realtor Website"" Button In The Realtor.Ca Browser Version Or 'Multimedia' Button Or Brochure On Mobile Device App. (Id:23934)
CALL1.877.896.6727
Property Price
$1,188,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$237,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$950,400
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,235
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$259,335
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$255,335
Monthly Payment
$3,817
Welcome To The Jewel Of Downtown Markham. An Award Winning Design By The Remington Group. $$$ Upgrades. Includes Lighting Fixtures, Stainless Steel Appliances, Composite Floor In The Balcony. Wood Floors T / O, Quuartz Countertops. Large Den Can Be Used As 2Md Bedroom / Office / Nursery For A Growing Family. Conveniently Located Close To All Amenities: Vip Cineplex, Viva & Do Transit, Shopping Centres, Whole Foods, Lcbo, Restaurants, Hwy 407 & 404, Ymca, Great Schools And So Much M**** Extras **** All Stainless Steel Appliances: Fridge, Stove, Built-In Dishwasher, Washer & Dryer. All Upgraded Elf's And All Existing Window Coverings. (Id:23934)
CALL1.877.896.6727
Property Price
$575,000
Minimum Down Payment (%)
5.65%
Minimum Down Payment ($)
$32,500
Mortgage Insurance ($)
$21,700
Mortgage Required ($)
$564,200
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$7,975
Mortgage Insurance PST
$1,736
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$43,711
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$39,711
Monthly Payment
$2,266
""The Mark"" Condominium, This Model Has The Largest Master Bedroom In The Building Per Builder's Floorplan! Lots Of Room To Access The Large Closet Which Runs The Full Width Of The Bedroom! Also Has Large Living / Dining / Kitchen Area! Unobstructed East View! Balcony Access From Living And Bedroom! Upgrades: Frameless Glass Shower, Laminate Flooring, Extended Upper Cabinets, Tiles, Kitchen Backsplash. Amenities Include Fabulous Outdoor Lounge, Party Room, Gym.**** Extras **** Stainless Steel: Fridge,Stove,Dishwasher,Microwave. Stack Washer / Dryer. 1 Underground Parking And 1 Locker.Steps To Mount Joy Station. Close To Parks, Schools, Restaurants, Shopping, Transit. (Id:23934)
CALL1.877.896.6727
Property Price
$478,888
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,944
Mortgage Insurance ($)
$18,198
Mortgage Required ($)
$473,141
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,053
Mortgage Insurance PST
$1,456
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$32,953
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$28,953
Monthly Payment
$1,900

Mortgages In Markham

When searching for a new home outside the city limits of Toronto (but wanting to still have an easy commute to get to it) home buyers should target Markham! This city is adorned with fantastic neighbourhoods that are made up of intricate threads of community-oriented residents and businesses. With a truly incredible collection of real estate that meets all budgets and personal tastes, this city can fulfill any home buyer's needs! Each neighbourhood offers urbanicity (walkability, entertainment, shopping & dining out), cycling trails, golf clubs & courses, plenty of parks, schools, commercial & retail opportunities, and excellent transportation methods... welcome home. The Markham mortgage calculator is fun and easy to use should you want to see where your affordability comfort zone is against a special piece of real estate. Are you thinking about a mortgage loan as a means of purchasing your new home? If that is the case, then you will want to become knowledgeable about the different kinds of loan products that surround mortgages and the various kinds of mortgage loan lenders that you may wish to deal with (and which ones you should be wary of). Making the choice to buy a home and moving forward financially to that in-depth monetary commitment can all start with using a mortgage calculator.
Markham real estate presents an opportunity for a great investment to home buyers of all levels, so after 'crunching' the numbers using a mortgage calculator, it will be time to check out some of the mortgage loan products that may be available to you, depending on where you stand financially. Mortgages can be derived from a mixing & matching of 'add-ons', but basic mortgage types are all based around the interest rate, the purchase price of the home, the insurance on the home & borrower, property taxes, down payment amount if applicable, closing costs, and any other additional fees. All that property information is now matched against the borrower (you). The lender will scrutinize over your income, credit rating, current debts, monthly overhead & financial commitments, and whether or not you are armed with any down payment (was the down payment saved, borrowed or have no down payment at all?). You must qualify for a mortgage loan in the same manner you would for any other type of loan; you need to verifiably reassure the lender that you are more then comfortable enough to financially assume a mortgage loan, be able to maintain the property, pay more monthly if the interest rate rises, and so on.
Some Markham home buyers prefer to secure a fixed rate mortgage mostly because the interest rate is 'fixed' or locked in and they know each month precisely what their monthly payment will be without changes. A variable (or adjustable) rate mortgage leans on the market to dictate the interest rate that will be imposed on your mortgage loan, so it will change by either rising or dropping (which in turn will change the monthly payment amount and cause uncertainty). Then there is a convertible rate mortgage, which places the mortgage at a fixed rate for a certain period and then changes it over to a variable rate mortgage for a certain length of time. A mortgage can be an open mortgage that allows for early payoff without any penalty, or a closed mortgage that can not be revamped or negotiated at any time through the life of the loan. A hybrid rate mortgage allows the borrower to lock in part of their mortgage at a higher interest rate, then lock in another part of the mortgage at a lower interest rate, basically making a fixed rate mortgage with a high (fixed rate) and a low (variable rate) split. There is a mortgage calculator that can assume the variances on mortgage products, which is a big bonus!