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

Luxury Condo In Uptown Markham, 870 Sf, **Corner Unit** North East Exposure, Wrapped Around With Natural Lights, Spacious And Functional Layout, Wood Flooring Thru'out, L-Shaped Counter Top In Kitchen, Master With Ensuite & Walk-In Closet, Good Size Bedrooms, Close To Hwy 407, 404, Go Train Station, Steps To Viva Bus Station, Walk To Supermarket, Banks, Restaurants,**** Extras **** Existing Stainless Steel Fridge, Stove, Hood Fan, Dishwasher, Front Load Washer & Dryer, All Electric Light Fixtures, All Window Coverings, Rogers Internet Included, One Parking, One Locker, 24 / 7 Concierge, (Id:23934)
CALL1.877.896.6727
Property Price
$699,000
Minimum Down Payment (%)
6.42%
Minimum Down Payment ($)
$44,900
Mortgage Insurance ($)
$26,164
Mortgage Required ($)
$680,264
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,455
Mortgage Insurance PST
$2,093
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$58,948
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$54,948
Monthly Payment
$2,672
Luxury At Her Finest! Over$200K Updates, This Executive Home Nested On Premium Lot, Double Dining Room Entry, 9' Ceiling, Open Concept Layout, Grand Family Room With Cathedral Ceiling, Gourmet Kitchen With Granite C-Top. Functional Living & Dining Filled With Sunshine. Spacious Bdrms Walk-Out Sunroom. Home Theatre, Gym, Library, Office. Swimming Pool, Pro-Ldscping, Stone Interlocking All Around. Top Rank P.E.T High Schl & Stonebridge P.S. Close To Parks, Markville Mall, T&T, Go, 407**** Extras **** $200K Upgrades Included. Pro-Ldscping, Intlocking, Patio. Swimming Pool, Hd Security Cam System, Home Theatre, Baths, Fridge, Stove, Washer / Dryer, All Light Fixtures, All Window Coverings. Exclude: 2 Chandeliers In Great Room And Dining Room. (Id:23934)
CALL1.877.896.6727
Property Price
$1,688,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$337,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,350,400
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$30,235
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$369,335
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$365,335
Monthly Payment
$5,304
Ravine Lot! Only 1 Of 6 On The Street That Faces The Ravine. End Unit (Only 1 Neighbour). 48Ft Frontage! 3100 Square Feet! Double Door Entry With 18Ft Ceiling In Foyer! 9Ft Ceiling On Main Flr. Large Family Room With Fireplace & Walk-Out To Deck With Large Backyard Lined With Trees! Separate Enclosed Den / Office On Main Floor. Laundry On Main Floor. Walk-In From Garage. Large Eat-In Kitchen! Oak Staircase! Massive Master Has Walk-In Closet, His / Her Separate Closet, 5Pc Bath!**** Extras **** High Ceiling In Basement (Unfinished). 2Nd Bedroom Has Walk-In Closet & Ensuite Bath! Jack N' Jill Bath For Other Two Bdrms. Lots Of Natural Light From Large Windows! Close To 407, Schools, Markville Mall & All Amenities! Prime Location! (Id:23934)
CALL1.877.896.6727
Property Price
$1,488,888
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$297,778
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,191,110
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$26,253
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$325,530
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$321,530
Monthly Payment
$4,678
Stunning 4 Bedrooms Detached Home In High Demand Berczy Community.**Well Maintained** 9' Ceiling,Pot Lights,Upgrade Light Fixtures, Crown Moulding.Hardwood Floor On Main Floor.Upgrade Kitchen With Centre Island & Ceramic Backsplash.Family Room Walk-Out To Balcony.3 Washrooms On 2Nd Floor.Upgrade Interlocking Front & Backyard.New Large Deck(2017) In Back Yard.Direct Access To Garage.Close To Top Ranking Pierre Elliott Trudeau H.S. & Beckett Farm P.S. Mins To Stores & Parks.**** Extras **** Stainless Steel Appliances:Fridge,Gas Stove,Built-In Dishwasher.Washer & Dryer.All Window Coverings.Garage Door Opener Remote,Elves.Hot Water Tank(Rent) (Id:23934)
CALL1.877.896.6727
Property Price
$1,430,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$286,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,144,000
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$25,075
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$312,575
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$308,575
Monthly Payment
$4,493
Att. Investors!! ""Power Of Sale Property Being Sold As Is"". **Extremely Rare Lot** Front Overlooks Beautiful Ravine With No Road! Very Spacious & Open Concept Home. Granite Counter Tops, Iron Railings / Balusters. Separate Side Entrance. Parks, Schools, And Community Centre Minutes Away! South Facing With No Obstructions. 407 Access.**** Extras **** Property Is Listed Under ""Power Of Sale And Will Be Sold As Is"". Seller And Listing Agent Is Not Responsible For Property Tax, Alternation Or Any Damage To The Property. (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 (%)
1.35%
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
$3,767

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!