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

Location, Well Maintained Spacious 3 + 1 Bedrooms And Bright Family Home In Middlefield Community Enclosed Front Porch. No Sidewalk, Hardwood Flr & Ceramic In Main Flr. Large Master Bedroom Direct Access To Garage. 4 Car Parking On The Drive Way Spacious Finished Basement With Separate Entrance With 1 Bedroom + 1 Kitchen + 3Pc Bath**** Extras **** Stainless Steel Fridge, Stainless Steel Stove, Basement Fridge & Stove, Washer, Dryer, All Window Covering Short Walk To School, Church, Mosque, Canadian Tire, Costco, Other Major Shopping Centres,Community Centre. Tenant Living In The Property,Lease Ends June 2020. (Id:23934)
CALL1.877.896.6727
Property Price
$849,000
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,900
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,455
Mortgage Insurance PST
$2,525
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$77,380
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$73,380
Monthly Payment
$3,672
Luxury Tridel Condo Circa 2. Rare Find Large 2 Bedroom + Den With 1448 Square Ft, Very Spacious With Much Natural Lights, Huge Terrace With East View, Parking & Locker Included. Den Can Be Used As 3Rd Bedroom, 9 Ft Ceiling With Modern Open Concept Kitchen. Top School Zone: Unionville Stainless Steel & Conveniently Steps To Viva, Hwy 7 & 407, Restaurants, Cineplex & Much More.**** Extras **** All Electrical Lighting Fixtures, All Window Coverings, All Existing Appliances: Fridge, Stove, Rangehood, Built-In Dishwasher, Washer & Dryer. (Id:23934)
CALL1.877.896.6727
Property Price
$820,000
Minimum Down Payment (%)
6.95%
Minimum Down Payment ($)
$57,000
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$12,875
Mortgage Insurance PST
$2,442
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$73,817
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$69,817
Monthly Payment
$3,551
World On Yonge -Luxurious Building On Yonge And Steeles Large Open Balcony: One+Den(Den Converted To The 2Nd Bedrm.) . 9 Ft Ceiling, Spacious Flr Plan, Big Size Room And Den, Backsplash With Plenty Of Cabinet-Walk-In Closet In Master Bedrm, Laminate Floor Thru-Out, Direct Access To Shops On Yonge, 7 Days Open Grocery Shop, Great Amenities: Fitness Centre / Swimming Pool / Party Room, Guest Rooms, Scre**** Extras **** All Appliances, Fridge, Stove, Dishwasher, Built-In Microwave, Washer & Dryer (Id:23934)
CALL1.877.896.6727
Property Price
$574,500
Minimum Down Payment (%)
5.65%
Minimum Down Payment ($)
$32,450
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$7,965
Mortgage Insurance PST
$1,735
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$43,650
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$39,650
Monthly Payment
$2,523
2 Bedroom + Den With ***2 Parkings*** And Locker Included. Brand New Mattamy Built Condo. One Of Its Kind In The Neighbourhood. Modern Kitchen With Quartz Centre Island Counter Top Throughout With Plenty Of Cabinets, And Laminate Flooring. Come Check Out This Vibrant Neighbourhood With New Community Centre. Mins To Community Centre, Library, Hwy 407 And Markville Mall. An Up And Coming Bus Terminal.**** Extras **** Washer, Dryer, Stainless Steel Fridge, Range, Dishwasher, And Electrical Lighting Fixtures Are Included (Id:23934)
CALL1.877.896.6727
Property Price
$660,000
Minimum Down Payment (%)
6.21%
Minimum Down Payment ($)
$41,000
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$9,675
Mortgage Insurance PST
$1,981
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$54,156
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$50,156
Monthly Payment
$2,881
Location!!!Location!!!Location!!!Beautiful South View Unit 661 Square Ft As 1+1 . 1 Underground Parking And 2 Large Lockers, Sauna, Party Room, Security System. 5 Minutes Drive To 404 / 407, Quiet Walk To Hwy 7 And Transportation. Park, Tim Hortons, Restaurants,Shoppers, Walmart, Canadian Tire, Supermarket Nearby.**** Extras **** Fridge, Stove, Built-In Dishwasher, New Washer, Dryer, New Bathtub. All Electric Light Fixtures, Window Blinds, 2 Lockers. (Id:23934)
CALL1.877.896.6727
Property Price
$489,999
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,500
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$6,275
Mortgage Insurance PST
$1,490
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,765
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$29,765
Monthly Payment
$2,166

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!