Mississauga 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 Mississauga 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

Mississauga Mortgage Calculator Examples

Wonderful Curb Appeal In This 3 Bedroom Detached Home On A Quiet Court In Meadowvale, Featuring Private Backyard With No Homes In Front Or Rear. Includes Hardwood In Living / Dining Rooms, Granite Counters And Stainless Steel Appliances In Kitchen, And A Finished Basement. Major Updates Include Roof, Windows, Furnace / Central Air Conditioning And Eavestroughs / Downspouts. Steps To Shopping, Schools And The Meadowvale Go. Street Boasts Rare 15 Hour Street Parking. (Id:23934)
CALL1.877.896.6727
Property Price
$730,000
Minimum Down Payment (%)
6.58%
Minimum Down Payment ($)
$48,000
Best Mortgage Rate (%)
1.94%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$11,075
Mortgage Insurance PST
$2,182
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$62,757
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$58,757
Monthly Payment
$2,983
Great Location, Close To Schools And Parks, Shopping, Square One, Many Services And Restaurants, And Quick Access To Highways. Many New Updates In 2020 Including Hardwoods Throughout, New Kitchen With Stainless Appliances, Quartz Countertop In Kitchen And Bathrooms, Hardwood Stairs, Modern Light Fixtures, And Freshly Painted, This Home Is Move-In Ready! You Will Love The Large Master Bedroom Featuring His And Hers Closets And Full Ensuite. (Id:23934)
CALL1.877.896.6727
Property Price
$910,000
Minimum Down Payment (%)
7.25%
Minimum Down Payment ($)
$66,000
Best Mortgage Rate (%)
1.94%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$14,675
Mortgage Insurance PST
$2,701
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$84,876
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$80,876
Monthly Payment
$3,692
Impressive Custom Home Approx. 7000 Square Feet Of Living Space Including Grand Basement. All Bedrooms, The Size Of A Master. Open Concept Gourmet Kitchen Overlooking Family Room And A Butler Serving Bar. Great Neighbourhood Close To Everything. Major Highway, Hospital And Lots Of Stores. Shame To Miss This One.**** Extras **** All Appliances Including Machines For 1 Of 2 Laundry Rooms. 14 X 28 Square Feet Wood Deck And Still Lots Of Room For A Pool. New Asphalt Driveway, Ac, Gas Hookup For Barbeque. Garage Door Openers, Custom Front Doors, Custom Windows Throughout. (Id:23934)
CALL1.877.896.6727
Property Price
$2,299,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$459,800
Best Mortgage Rate (%)
1.94%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$43,950
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$505,250
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$501,250
Monthly Payment
$7,735
Must See Bright Corner Unit At Parkway Place! 1 Bed, 1 Bath With Ensuite Laundry, Hardwood Floors And Balcony With Gas Hookup For Barbeque. Gated Grounds With 24 Hour Security, Indoor Pool, Sauna, Gym, Tennis Courts & Much More. Excellent Location, Steps From Erin Mills Town Centre. Parking And Locker Are Owned.**** Extras **** Barbeque Excluded - Stove And Fridge To Be Replaced - Photos Attached. (Id:23934)
CALL1.877.896.6727
Property Price
$425,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,250
Best Mortgage Rate (%)
1.94%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$4,975
Mortgage Insurance PST
$1,292
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$29,017
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$25,017
Monthly Payment
$1,766
Iconic Building. Award Winning Builder. Very Spacious Crystal Model. Approx 2142 Square Ft Of Total Space Included. Outdoor Area. Open Concept Layout. 3 Bedroom, 2 Wr. Breath-Taking Panoramic Ne + Nw Views. State Of The Art Amenities (Fitness / Basketball Court / Games Room / Terrace / Lounge / Library / Party Room / Barbeque Area). Sought-After Location. Top Ranking School District. Near Erin Mills Town Center, Credit Valley Hospital, Restaurants, Nature Trails, New Go Stop, And Highways**** Extras **** All Electric Light Fixtures, Stainless Steel Appliances (Stove, Built-In Dishwasher, Fridge, Microwave), White Washer And Dryer, Upgraded Roll-Down Blinds Throughout, 2 Parking Spots, 1 Locker. $$$ Spent On Upgrades. (Id:23934)
CALL1.877.896.6727
Property Price
$874,888
Minimum Down Payment (%)
7.14%
Minimum Down Payment ($)
$62,489
Best Mortgage Rate (%)
1.94%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,973
Mortgage Insurance PST
$2,600
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$80,561
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$76,561
Monthly Payment
$3,553

Mortgages In Mississauga

Whether swinging a club at The Mississauga Golf and Country Club, launching a boat from the Port Credit Harbour Marina, or bouncing the day away at the super-fun Sky Zone Trampoline Park, home buyers will love Mississauga! This city provides home buyers with a unique position that can fulfill the many needs of busy singles, families with children, and retirees that are looking to downsize. Parks, schools, entertainment venues, cycling trails, the lakeshore, and the business industrial park are all covered beautifully within this city... not to mention it being close enough to Toronto for working professionals that do not mind a short commute. The real estate in this city entices with a wide swath of condominiums, single family homes, larger homes, and townhomes/townhouses. With affordable price points, buyers can use a Mississauga mortgage calculator to work out just how much home they can afford before sitting down with their bank or alternative lender. Using a mortgage calculator is a fast and easy way to figure out the affordable price point of a home based on income. The purchase price of the home, the interest rate, and the duration of the loan are the basic pieces of information needed to work with a mortgage calculator.
Mississauga is one of the more affordable choices when it comes to real estate, which is perfect for growing families, young couples, and business executives who may not want to retire in the home that they wish to purchase now. There is a lender and a budget that is just right for you and your personal financial goals, so it is just a matter of executing a bit of proactive legwork on your own before talking with a lender to become knowledgeable about the varying mortgage products. A mortgage loan is just like any other loan (but typically more money); lenders like to see good credit ratings, a steady income that is verifiable, some security or collateral, and a down payment that has not been borrowed. The property (in most cases) is considered by a lender as collateral against the loan. So, now that you have an idea about how much home you can comfortably afford (through using the mortgage calculator), you are ready to get a handle on the different mortgage loan types and the pros and cons of each of them. Mortgage loans are designed to meet certain financial goals of the borrower and to be 'tweaked' per the individual and their personal financial situation.
With the mortgage calculator put aside, home buyers that are interested in a specific neighbourhood within the city of Mississauga can now focus on the varying mortgage loans. Most people have heard about fixed rate mortgages (a mortgage product that sets the interest rate for the life of the loan) and a variable or adjustable rate mortgage (the interest rate fluctuates with the Bank of Canada prime rate for the life of the loan). These two mortgage products are the most popular, but there are even more alternatives in the world of mortgage loans. A low ratio mortgage (a higher then 20% down payment equals a lower monthly payment) and a high ratio mortgage (a lower down payment but requires mortgage default insurance) are other kinds of mortgage loans products. An open mortgage allows you to pay off the mortgage loan in full at any time without any penalty, whereas a closed mortgage loan cannot be altered once the loan agreement has been established. This is non-negotiable throughout the life of the mortgage loan, so no wiggle room for negotiating a lower interest rate or payment amount. These are just a few of the options for a mortgage loan product available; some private lenders may offer alternative mortgage loan products.