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

Desirable Much Sought After 1,230 Square Foot Corner Suite In East Mississauga, Close To Etobicoke Border. Split Bedroom. Solarium + Balcony. Spacious, Bright, Sunfilled. Completely Renovated Recently.Newer Appliances, 2 Full Bathrooms,2 Underground Parking. West View. Steps To Shopping,Transportation, Library, Recreation Centre, Medical Centre. One Bus To Subway / Square One.**** Extras **** Fridge,Stove,Dishwasher,Washer / Dryer(1 Year New),All Window Coverings,All Electrical Lighting Fixtures,Cable Included.Parking Spots / Locker Close To Elevator. (Id:23934)
CALL1.877.896.6727
Property Price
$565,000
Minimum Down Payment (%)
5.58%
Minimum Down Payment ($)
$31,500
Mortgage Insurance ($)
$21,340
Mortgage Required ($)
$554,840
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$7,775
Mortgage Insurance PST
$1,707
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$42,482
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$38,482
Monthly Payment
$2,179
Opportunity Knocks! This Solid Semi-Detached On A Wide (30 Ft) Deep (120 Ft) Lot, Quiet Street, Minutes From Qew. Over 1,200 Sf On The Upper Level, Original Hardwood Floors In The 3 Bedrooms, Living Room And Dining Room. Walk-Outs To A Porch At Front And To Backyard Deck In Rear. Functional Layout, Ready For Your Updates And Personal Touches. Lower Level Has Another 944 Sf With A Huge Recreation Room, Laundry, A 2Nd Full Washroom And Separate Entrance At Front.**** Extras **** Freshly Painted And Cleaned, This Home Is Ready For Your Cosmetic Upgrades. Included: Fridge, Washer, Dryer, All Electric Light Fixtures. (Id:23934)
CALL1.877.896.6727
Property Price
$799,000
Minimum Down Payment (%)
6.87%
Minimum Down Payment ($)
$54,900
Mortgage Insurance ($)
$29,764
Mortgage Required ($)
$773,864
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$12,455
Mortgage Insurance PST
$2,381
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$71,236
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$67,236
Monthly Payment
$3,039
One The Best Deals In The City Centre District: 2 Bedrooms (Den Is Currently Used As A Bedroom) 2 Washrooms And A Great Layout Featuring A Spacious Foyer / Hallway Where Your Guests Don't Have To Step On Each Other Coming In Or Leaving. Also Enjoy More Privacy & Quiet As The Entrance Door Is Not Right At The Kitchen. A Great Building Located Right In The Hub Of Square One Area, Walking Distance To Shopping, Restaurants, Library, Transit... 5 Min Drive To Hiway**** Extras **** Some Of The Features Include: Hardwood Floors, Stainless Steel Kitchen Appliances, Upgraded Lighting, Granite Countertops, Upgraded Faucet, Backsplash, Fridge Enclosure, Breakfast Bar... (Id:23934)
CALL1.877.896.6727
Property Price
$489,800
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,490
Mortgage Insurance ($)
$18,612
Mortgage Required ($)
$483,922
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$6,271
Mortgage Insurance PST
$1,489
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,750
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$29,750
Monthly Payment
$1,901
Welcome To This Beautiful Gem Located In The Desirable Community Of East Credit. The Beautiful 5 Bedroom House Is Spacious Enough For A Big Family. Fully Upgraded. Hardwood Throughout The House. Gas Fireplace In Family Room. Access To Garage From Inside The House. Main Floor Laundry. An Amazing Backyard Like A Dream Comes True With Interlock Stone And Firepit Along With Hot Tub. Close To All Major Highways, Park, Mall And Schools. A True Pride Of Ownership.**** Extras **** Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel Dishwasher, Washer, Dryer, Exterior Gas Line For Barbeque, Electric And Gas Rough-In For Stove. Tankless Hot Water Unit Is Rental. Pot Lights On Main Floor. All Electrical Lighting Fixtures Included. Nest Thermostat. New Furnace, Air Conditioner & Roof. (Id:23934)
CALL1.877.896.6727
Property Price
$1,269,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$253,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,015,920
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$21,873
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$277,353
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$273,353
Monthly Payment
$3,990
Popular ""Deer Run"" Area! Unique And Renovated Home, 3 Bedrooms And 4 Washrooms Home Located In Desirable Lastrada Hts!! With 2 Wooden Brick Fireplaces, Two Kitchens. Walking Distance To ""Go"", Parks, Shops And School!* Rare Opportunity In This Location. This Property Is A Great Source Of Income With Two Units Along With Two Separate Laundry Rooms.**** Extras **** Included All Electrical Lighting Fixtures, Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel Dishwasher 2 Washers, 2 Dryers, Ac, Furnace, Water Heater Garage Dining Room Opener, Window Coverings, White Fridge And Stove In The Basement. Buyer / Buyer's Agent To Verify & Be Responsible For All Data On Mls (Id:23934)
CALL1.877.896.6727
Property Price
$959,900
Minimum Down Payment (%)
7.40%
Minimum Down Payment ($)
$70,990
Mortgage Insurance ($)
$35,556
Mortgage Required ($)
$924,466
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$15,673
Mortgage Insurance PST
$2,845
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$91,008
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$87,008
Monthly Payment
$3,631

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.