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

You Must See This Beautiful 6 Years Old, 2 Story Freehold Townhome On Quiet Cul De Sac In Wismer Community! No Maintenance Fees. Hardwood Floor, Pot Lights & 9' Smooth Ceiling Thru-Out Main Floor. Modern Open Concept Kitchen With Stainless Steel Appliances. Quartz Kitchen Countertop & Central Island. Steps To Park, Top Ranking Wismer Public School & Bur Oak Secondary School. Walking Distance To Mount Joy Go Station, Supermarkets, Home Depot, Lcbo, Banks Etc..**** Extras **** Stainless Steel: Fridge, Stove, Range Hood. Built-In Dishwasher. Front Load Stainless Steel: Washer & Dryer. Water Softener, Under Sink Water Filtration System. All Window Coverings, Furnace, Central Air Conditioning. Garage Door Remote. Hot Water Tank (Rental). (Id:23934)
CALL1.877.896.6727
Property Price
$999,000
Minimum Down Payment (%)
7.50%
Minimum Down Payment ($)
$74,900
Mortgage Insurance ($)
$36,964
Mortgage Required ($)
$961,064
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$16,455
Mortgage Insurance PST
$2,957
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$95,812
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$91,812
Monthly Payment
$3,775
Bright And Spacious Unit. 2 Bedrooms + Den. Laminate Floors Throughout. Lots Of Closets. Membership To Orchard Club, Access To Swimming Pool, Gym, Party Room And Tennis Court. Short Walk To Schools, Shops, Parks, Gold Course, Ski Hill, Easy Access To 407& 404.**** Extras **** Stove, Built-In Dishwasher, Washer, Dryer, All Existing Light Fixtures & Window Coverings.. 1 Underground Parking. Maintenance Fee Includes High Speed Internet. (Id:23934)
CALL1.877.896.6727
Property Price
$499,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,995
Mortgage Insurance ($)
$18,996
Mortgage Required ($)
$493,901
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,473
Mortgage Insurance PST
$1,520
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,488
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$30,488
Monthly Payment
$1,940
Situated In The Much Sought-After Community Of Cornell Village! Great Rental Income Opportunity Featuring A Detached Coach House Or Keep For Personal Use! This Bright Sunny Home Showcases An Open Concept Design With Total Living Space 2727 Square Ft. Granite Counters, New High Quality Laminate On Second Flr & Freshly Painted T'out. Close To All Amenities, Recreation Cntr, Hospital, Parks,407 / Hwy 7!& Short Drive To Go Stn..Detached Double Garage + Parking Pad.**** Extras **** Main House: Stainless Steel Fridge, Stove, Dishwasher & Microwave, Washer & Dryer, Window Coverings With Installed, Light Fixtures, Garage Door Opener + Remote, Alarm System. Coach House: Stainless Steel Fridge, Stove, Dishwasher, Microwave,Stackable Clothes Washer & Dryer, Cair,X2, 2 Hot Water Tank (Rental) Id:23934)
CALL1.877.896.6727
Property Price
$1,150,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$230,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$920,000
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$19,475
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$250,975
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$246,975
Monthly Payment
$3,613
Rare Beautiful 3Br Detached Double Front Door In Highly Desired Community Of Cornell. This 1820Sqft Per Buiilder's Floorplan, 3 Bedroom + Den / Office On 2Nd Floor. Master Bedroom With 5Pcs Ensuite And Hers / His Closet. Well Maintained! Very Good Elementary & Secondary School Zone. Open Concept, Great Layout!**** Extras **** Fridge, Stove, Dishwasher, Washer, Dryer, All Light Fixtures, Fireplace, Gas Connection In Family Room. **Tenant In Basement, Pls Knock Door If Visiting In Basement** (Id:23934)
CALL1.877.896.6727
Property Price
$999,000
Minimum Down Payment (%)
7.50%
Minimum Down Payment ($)
$74,900
Mortgage Insurance ($)
$36,964
Mortgage Required ($)
$961,064
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$16,455
Mortgage Insurance PST
$2,957
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$95,812
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$91,812
Monthly Payment
$3,775
Rarely Offered Detached Home With Extra Large Yard In The Heart Of The Cornell Neighbourhood. 2500Sf With 4 Bedrooms, 3.5 Baths And Double Car Garage On Premium Lot. Open Concept Living Space With Modern Kitchen, 2 Sided Gas Fireplace, And Second Floor Office Space. Conveniently Located Near Schools, Parks, Community Centers, Go Station And Shopping.**** Extras **** Stainless Steel Fridge, Stove, Built-In Dishwasher, Range Hood, Washer & Dryer, Garage Door Opener & Remote Control, Furnace & Central Air Conditioning, Hot Water Tank (Rental) (Id:23934)
CALL1.877.896.6727
Property Price
$1,398,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$279,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,118,400
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$24,435
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$305,535
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$301,535
Monthly Payment
$4,393

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!