Milton 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 Milton 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

Milton Mortgage Calculator Examples

This Lovely 2 Bed / 2 Bath Home Is Spacious And Bright. The Master Bedroom Has A Large Walk-In Closet & A Huge Ensuite 3Pc Washroom. No Carpet In This Home. The Kitchen With A Handy Breakfast Bar Overlooks The Combined Dining And Living Room. Good Size Balcony. Underground Parking And The Separate Storage Unit Is On The Same Floor As Your Home. This Home Is Located In A Prime Area, Close To Schools, Shops, Restaurants, 401 / 407, Go Stn, Parks, And Ravine Areas.**** Extras **** Stainless Steel Stove, Stainless Steel Fridge, Stainless Steel Built-In Dishwasher, & Stackable Washer And Dryer. Rental Tankless Hot Water Heater. Low Maint Fee. (Id:23934)
CALL1.877.896.6727
Property Price
$515,000
Minimum Down Payment (%)
5.15%
Minimum Down Payment ($)
$26,500
Mortgage Insurance ($)
$19,540
Mortgage Required ($)
$508,040
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,775
Mortgage Insurance PST
$1,563
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$36,338
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$32,338
Monthly Payment
$2,040
End Unit Urban Town That Feels Like A Semi, With Extra Windows & New Interlocking At Sides Of Driveway. This Modern Open Concept Floor Plan. Kitchen / Dining Room And & Family With New Laminate. Kitchen & Bathrooms With New Quartz Counters, Stainless Steel Appl & New Backsplash, Master With Walk-In, New Custom Closet Organizer, New Built-In Wardrobe & Fully Renovated Master Ensuite. 3 Large Bedrooms, Large Balcony, Finished Ground Entrance & So Much More..**** Extras **** Stainless Steel Fridge, Stove, Rangehood, Reverse Osmosis System, New Quartz Counters Throughout, Stacked Washer / Dryer, New Nest Thermostat, New G / D Opener, New Digital Front Door Lock, Excludes Fireplace & Bench At Front. (Id:23934)
CALL1.877.896.6727
Property Price
$679,000
Minimum Down Payment (%)
6.32%
Minimum Down Payment ($)
$42,900
Mortgage Insurance ($)
$25,444
Mortgage Required ($)
$661,544
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,055
Mortgage Insurance PST
$2,036
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$56,491
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$52,491
Monthly Payment
$2,657
This House Is So Cute & Has Such Fantastic Curb Appeal That You're Going To Want To Raise Your Family. Located In The Hotspot For Young Families Known As The Harrison Neighbourhood, You're Close To Everything Which Is One Of The Attractions To This Area For Many Buyers. This Detached Home Is Situated On A 34' Wide Lot, Not 30' Like Most, Which Provides Extra Driveway Parking & A Large Backyard, It Also Has A Long List Of Features Inside That You'll Love.**** Extras **** Includes Existing; Fridge, Stove, Microwave, Dishwasher, Washer / Dryer, All Electrical Light Fixtures, All Window Coverings, Central Vacuum, Garage Door Opener With Remote. Excludes; Arlo Camera (Id:23934)
CALL1.877.896.6727
Property Price
$839,900
Minimum Down Payment (%)
7.02%
Minimum Down Payment ($)
$58,990
Mortgage Insurance ($)
$31,236
Mortgage Required ($)
$812,146
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$13,273
Mortgage Insurance PST
$2,499
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$76,262
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$72,262
Monthly Payment
$3,261
One Year Old 2955 Square Feet Greenpark Spectacular Bright & Spacious Home With Large Corner Lot. 10' On Main, 9' On 2Nd Floor With Lots Of Big Windows. Feels Like Soaking In The Sunlight. Upgraded Kitchen With Granite Countertop & Gas Stove. Master Bedroom With Beautiful 5 Piece Ensuite And Double Big Walk-In Closets. All Other Bedrooms With Direct Access To Washroom And Walk-In Closet. Quartz Countertop In All Washrooms. Walk-Up Basement With Big Windows & Extra Large Cold Room. Must See!**** Extras **** Fridge, Gas Stove, Range Hood, Built-In Dishwasher, Washer And Dryer. All Electrical Light Fixtures, All Window Coverings (Id:23934)
CALL1.877.896.6727
Property Price
$1,299,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$259,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,039,200
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$22,455
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$283,755
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$279,755
Monthly Payment
$4,173
Just 2 Year New Fully Upgraded, 2033 Square Ft 4 Bed, 3 Full Bath Room & A Powder Room. Ground Flr Bedrm With Full Wshrm Can Be Home-Office Or Nanny Suite. Lots Of Windows Bring Sunlight. Seprt Living & Fmly Rms. Granite Counters, Stainless Steel Appl, Elegant Back Splash & Upgraded Kitchen Cabinets! Led Pot Lights, Hrdwd Flring & Oak Staircase . Walk-Out To Huge Balcony To Njoy Barbeque & Coffee Time, Mster Bedrm With Ensuite. Walk To Bus Stop, Schls, Sobey's Plaza, Proper Double Car Garage,**** Extras **** First Time Buyers Delight. Perfect Home 4 Growing Fmly. Included:Stainless Steel Fridge, Stainless Steel Dshwshr, Stainless Steel Stove, Wshr & Dryer. Window Coverings , Garage Door Opener. Cls To Boyne Public School & Jean Vanier Catholic Secondary Schl. Mins To Milton Hospital & Shopping Area. (Id:23934)
CALL1.877.896.6727
Property Price
$739,900
Minimum Down Payment (%)
6.62%
Minimum Down Payment ($)
$48,990
Mortgage Insurance ($)
$27,636
Mortgage Required ($)
$718,546
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$11,273
Mortgage Insurance PST
$2,211
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$63,974
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$59,974
Monthly Payment
$2,886

Mortgages In Milton

Just a hop, skip and jump away from Hamilton and Toronto, the ideal location for home buyers to search the MLS listings is the charming city of Milton! All of the desirable 'ingredients' are present in this small-town feeling city, like a great independent economy, plenty of amenities & activities, safer for families, affordable, loads of parks to explore, great schools, and excellent transportation routes. The varied collection of real estate found in this city is a lovely fusion of estate homes, executive townhomes, older 19th century homes, farm properties, vacant lots just waiting for development, and so much more... welcome home! To figure out where you stand with affordability, just simply use the Milton mortgage calculator! A mortgage calculator will come in very handy, especially for first time home buyers who are not sure how mortgage loans work. Mortgage loans are based on the principal amount to purchase the home, the interest rate (which can vary between lenders and the prime rate), the amount of years it will be before the loan is paid back in full and the monthly payment frequency (bi-weekly or monthly). What mortgage product you are offered by a lender depends on your financial standing, the location & province the home is in, the level of risk you pose to the lender and other factors.
There are several mortgage product types, but not all of them may apply to you and your finances to purchase your home in Milton. For borrowers that have at least a 20% down payment and have an excellent financial standing may have a conventional mortgage/low ratio mortgage offered to them. A higher risk borrower may be offered a high ratio mortgage. A mortgage product (fixed rate, variable rate, hybrid or adjustable rate) may be a closed mortgage which is non-negotiable after the terms & interest rate is set, or an open mortgage where the conditions are more flexible without a penalty should changes be made like an early pay off or alteration to the amortization. A mortgage calculator that you used is just the starting point, a lender must go more in-depth with your background financially and the background of the home & its appraised value ratio. Before, during and after the mortgage process and closing of the home purchase transaction, you should keep in mind that there will be other costs like moving, utility hook-up, property taxes, insurances, and any immediate 'd�cor tweaking'. Buying a home is a big step, but it is a big investment too that will, over each year, grow valuable equity.