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

Fabulous Executive 4+1 Bedroom Home With In-Law Suite In High Demand Thornhill Neighbourhood! Enjoy Wide-Open Views & Incredible Privacy On Rare Premium Lot Surrounded By Picturesque Greenspace, Park & Trails. Ideal 3,241 Square Ft Open Concept Floor Plan Features Reno'd Gourmet Kitchen With Quartz Counters & Centre Island; Updated Bathrms, M / F Ofc & Laundry; Refin Hrdwd Flrs M / F, Open Riser Staircase With Skylight & 2 Fireplaces. Prof Finished Bsmnt With Kitchenette, Wet Bar, 5Th Bedroom & 3 Piece Bath. Meticulously Maintained By Orig Owners! Neighbours On 1 Side Only! $$Spent: Fresh Paint & Flooring 2022, Gas Furnace & Ac '19, Roof '16, Windows 09. Enclosed Glass Porch Entry! Beside Valleyview Park In Sought-After Bayview Glen Ps School District. Quick Access To 407 & 404, Shops, Hospital & Recreation!**** Extras **** Fridge, Stove, Built-In Dishwasher, Washer, Dryer, All Window Cvrs / Electrical Lighting Fixtures, Gas Burner & Equip '19, Cen Ac '19, Central Vacuum / Attach, Humid, 2Gdos / 2Rmt. Alarm System (Unmonitored). Exclude: Hot Water Tank (Rental) Bsmnt Freezer (Id:23934)
CALL1.877.896.6727
Property Price
$1,588,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$317,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,270,400
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$28,235
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$347,335
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$343,335
Monthly Payment
$5,818
Outstanding 4 Bedroom 2-Storey, Double Garage In Prime Thornhill - Willowbrook Neighbourhood. Dining Room Has Pantry & Dish Storage. Walk-Out To Large Wood Deck With Awning. Renovated Kitchen With 2 Windows, Island, Quartz Counters & Overlooks Family Room. Primary Bedroom Has Walk Through To Main Bathroom. Newer Windows Throughout. Wood Staircase, Above Ground Walk-Out Basement With 1 Bedroom Apartment. Huge Backyard. Renovated Bathroom. Large Laundry With Storage. Steps To All Services, Schools, Transit.**** Extras **** Electrical Lighting Fixtures, Window Coverings, Furnace, Washer, Dryer, Storage&Pantry Unit In Dining Room, Hot Water Tank (Rental), Humid, Central Air, El. Garage. Dining Room Opener, 2 Fridges, 2 Stoves, Range Hood, Dishwasher, Backyard Storage Shed, Mudrm Enclosure At Front Of House (Id:23934)
CALL1.877.896.6727
Property Price
$1,199,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$239,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$959,200
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,455
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$261,755
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$257,755
Monthly Payment
$4,393
Beautiful Side- Split House, Inside Fully Renovated (2014), Roof, Windows, And Exterior(2021). In A Unique Lot With A Fabulous View Of The Park. Gorgeous High Vaulted Ceiling Living Room With Open Concept Gourmet Kitchen, Stainless Steel Built-In Appliances. The Dining Room And Family Room Are Open To The Backyard.**** Extras **** Tesla Charger, Living And Dining Room Chandeliers, Gazebo, Fridge, Stove, Built-In Dishwasher, Microwave, Washer, Dryer, Elf's, Wdw Covgs, Central Air Conditioning (Id:23934)
CALL1.877.896.6727
Property Price
$3,398,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$679,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$2,718,400
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$71,425
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$752,525
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$748,525
Monthly Payment
$12,450
Live In The Luxury Mon Sheong Life Lease Private Residence For Independent Living! One Of The Occupants Must Be 55+ In Age. Stunning And Large Over 1000Sf 1+1 Unit With 2 Full Washrooms And Very Spacious Main Area. Includes A Parking And Locker. Extensive Amenities In The Building! Master Bedroom Ensuite With Walk-In With Extra Grab Bars. Maintenance Fees Includes: Hydro, Water, Cable Tv, Internet, Common Elements.**** Extras **** Includes: All Existing Light Fixtures And Chandelier, All Existing Window Coverings, Built-In Cooktop, Front Loading Washer / Dryer, Stainless Steel: Fridge, Built-In Dishwasher, Hood Range. (Id:23934)
CALL1.877.896.6727
Property Price
$939,000
Minimum Down Payment (%)
7.34%
Minimum Down Payment ($)
$68,900
Mortgage Insurance ($)
$34,804
Mortgage Required ($)
$904,904
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$15,255
Mortgage Insurance PST
$2,784
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$88,439
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$84,439
Monthly Payment
$4,144
Rarely Offered End-Unit Freehold Town Home With 4 Oversized Sun-Filled Bedrooms & 37Ft Frontage In High Demand Cornell Community! Bright & Spacious * Lots Of Big Windows * Solid Hardwood Flr Throughout * Potlights Throughout Main Flr * Open Concept Kitchen With Big Island * 2Nd Level Laundry * Large Single Garage With Storage * Driveway+Garage Can Park Total 2 Cars * Spacious Private Yard. Close To Schools / Transit / Community Centre / Hospital / Future Sports Park & Bus Terminal.**** Extras **** All Existing: Electrical Lighting Fixtures, Window Coverings, Stainless Steel Stove / Stainless Steel Fridge / Range Hood / Washer, Garage Door Opener With Remote, Hot Water Tank (Rental) (Id:23934)
CALL1.877.896.6727
Property Price
$998,000
Minimum Down Payment (%)
7.49%
Minimum Down Payment ($)
$74,800
Mortgage Insurance ($)
$36,928
Mortgage Required ($)
$960,128
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$16,435
Mortgage Insurance PST
$2,954
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$95,689
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$91,689
Monthly Payment
$4,397

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!