Milton Mortgage Calculator

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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 Examples

Beautifully Upgraded 3 Bedroom Brick Bungalow On The Outskirts Of Town With A Fantastic View Of The Escarpment Close To Hiking And Skiing. This Home Is Located On A Road That Will Eventually Be Turned In To A Dead End Making It A Prime Location To Live On. It Features An Open Concept Kitchen With Heated Tile Floors, Upgraded Oak Cabinets And Quartz Counters. Numerous Upgrades Include Updated Electrical Panel, Windows, Baseboards, Exterior & Interior Doors, Renovated Main Bathroom With Granite Counter, Natural Gas Furnace (Approx 4 Yrs) And Central Air Conditioning. This Home Also Features Hardwood Floors On Main Level, Tasteful Decor Plus A Finished Basement With Large Windows And A 3 Pce Bathroom With Walk In Shower. Outside Is A Double Garage With A Carport In Front, Well Landscaped Over 1 / 2 Acre Lot, 10' X 14' Shed And A Metal 15' X 24' Shop With A Separate Driveway And All This Backing Onto A Creek. Make Sure To Take A Look At This Rare Property With It's Convenient Location Minutes To Town And Hwy 400. (Id:23934)
CALL1.877.896.6727
Property Price
$889,500
Minimum Down Payment (%)
7.19%
Minimum Down Payment ($)
$63,950
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$14,265
Mortgage Insurance PST
$2,642
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$82,357
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$78,357
Monthly Payment
$3,715
This Century Home Is Located Steps From Restaurants, Coffee Shops, Shopping And The Farmers Market! Rarely Available Home With Recent Updates, And Old World Charm! This 3 Bedroom Semi Is Warm And Welcoming From The Cute Front Porch Through To The Great Yard With Deck And Gazebo. Main Floor Is Spacious And Inviting With Hardwood, Wood Accent Wall, Barn Board Doors And Tall Ceilings. Main Floor Laundry, Office And New 2Pc Bathroom. Second Floor Has 3 Bedrooms And Brand New 4 Piece Bathroom. New Windows, New Gas Furnace And Central Air Conditioning. Larger Than It Looks! Must Be Seen To Truly Be Appreciated. (Id:23934)
CALL1.877.896.6727
Property Price
$685,000
Minimum Down Payment (%)
6.35%
Minimum Down Payment ($)
$43,500
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$10,175
Mortgage Insurance PST
$2,053
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$57,228
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$53,228
Monthly Payment
$2,887
Welcome To Green Parks High Demand Saddle Ridge Community! Gorgeous Detached Home On Quiet Street. Approximately 3,107 Square Feet. Engineered Hardwood Floors Through Out. Spacious Eat In Kitchen With Breakfast Bar & Walk Out To Backyard. Cozy Family Room With Fireplace & Main Floor Office. Second Floor Overlooking Front Foyer. Master Bedroom With Walk In Closet And 5Pc Ensuite. Walk In Closet In 2Nd, 3Rd & 4Th Bedroom & 3 Piece Ensuites. Main Floor Laundry & Separate Walk Out From Basement. Great Location Close To Schools, Parks, Shops,Golf, Hospital & Much More! (Id:23934)
CALL1.877.896.6727
Property Price
$1,199,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$239,800
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
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
$4,150
Super Bright 4 Bedroom 4 Washroom Detached All Brick And Stone Mattamy Windmere Model. 2564 Square Feet Of Living Space With 9 Ft Ceilings, Open Concept Layout, And Spacious Chefs Kitchen With High End Appliances. Master Bedroom With 4Pc Ensuite. 3 Washrooms Located On Upper Level. Large Laundry Room On Upper Level. Hardwood Floors On Main Level, With Extra Sitting Room. Close To All Amenities Including 401 And Go Station. Great Neighbourhood With Excellent Schools All Within Walking Distance. (Id:23934)
CALL1.877.896.6727
Property Price
$925,000
Minimum Down Payment (%)
7.30%
Minimum Down Payment ($)
$67,500
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$14,975
Mortgage Insurance PST
$2,744
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$86,719
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$82,719
Monthly Payment
$3,859
Stunning Mattamy Homes Built Model Suite Is Located In The Popular Hawthorne Village On The Park Condos Located In Desirable South Milton! Bright & Sunny Modern Open-Concept Floor Plan Features New Wide Plank Laminate Floors,Freshly Painted,With All Sliding Mirrored Closets. Kitchen With Upgraded Granite Counter Tops,Maple Cabinets,Stone Backsplash,Breakfast Bar, With Brandnew Stainless Steel Fridge. Beautiful 4Pc Bathroom With Soaker Tub. Insuite Laundry Room With Lots Of Storage Space.**** Extras **** Fridge, Rangehood, Stove, Built-In Dishwasher, Washer,Dryer, All Elf's, 2 Owned Parking Spaces - 1Underground And 1Outside,Storage Locker Situated Conveniently Beside Parking. Balcony With South Exposure.Furn Is Negotiable.Plenty Of Visitor Parking (Id:23934)
CALL1.877.896.6727
Property Price
$479,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,995
Best Mortgage Rate (%)
2.19%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$6,073
Mortgage Insurance PST
$1,459
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,027
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$29,027
Monthly Payment
$2,051

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.