Newmarket 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 Newmarket 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

Newmarket Mortgage Calculator Examples

Unique Investment Opportunity. Original Owners Seeking A Long Term Lease Back. Stunning Brick 3 Bedroom Home With Fully Finished Walk Out Basement, Custom Cabinetry, Hardwood Flooring, Professionally Designed Kitchen, List Of Custom Features And Upgrades Are Attached To The Listing As They Are Numerous. Composite Deck, Irrigation System, Natural Gas Powered Generator, Roof Shingles 2009 With 30 Year Rating, Hi Eff Furnace, Newer Vinyl Windows, New Front Door 2020, High End Stainless Steel Appliances. Backs To Conservation With A South Eastern Exposure, Walking Trails, Close To All Amenities.**** Extras **** This Home Shows Quality Of Custom Craftmanship In Every Room And Is Pristine. Upgraded Consistently Throughout The Years And Has A Timeless Quality. High End Appliances, Plentiful Storage Throughout. (Id:23934)
CALL1.877.896.6727
Property Price
$1,699,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$339,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,359,200
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$30,455
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$371,755
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$367,755
Monthly Payment
$6,225
Prestigeous ""Stonehaven"" Aprox 4300 Square Ft, Plus Finished Basement. * Quiet Court Location, Premium Lot, Just Under 1 / 3 Of An Acre. Private Backyard With Inground Pool, 5 Bedrooms In Total, Finished Basement, Includes Recreation Room With Wet Bar, Stone Fireplace And Billiard Room. Recent Improvements, New Interlock Driveway (3 Years Ago). New Pool Liner And Cover (2017). New Central Air Conditioning (2021).**** Extras **** Elf's, All Window Coverings,Bwl, Central Air Conditioning, Humidifier. Central Vacuum And Attachments And Accessories (As Is). Water Softener, Alarm System (Monitoring Is Separate). Auto Garage Door Opener And Remotes. Inground Pool And Related Equipment, Fridge, Stove, Built-In Microwave. (Id:23934)
CALL1.877.896.6727
Property Price
$2,168,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$433,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,734,400
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$40,675
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$475,775
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$471,775
Monthly Payment
$7,943
A Beautifully Maintained And Updated Four Bedroom Tudor Style Home In The Heart Of Newmarket. This Home Features An Updated Kitchen With Quartz Counters, A Farmers Kitchen Sing, Hardwood Floors, Stainless Steel Appliances And More. Relax In The Sunken Family Room. Updated Second Floor Bathrooms And Bedrooms With Hardwood Floors. Enjoy Your Private Backyard Deck Or Interlocked Side Patio Complete With Electric Retractable Awning. Cedar Hedges Ensure Privacy.**** Extras **** Stainless Steel Fridge, Gas Range, Range Hood, Built-In Dishwasher, Washer / Dryer, All Window Coverings, Elf's And Ceiling Fans, Water Heater (Owned), Water Softener, Electric Garage Door Opener And Remote, Retractable Electric Awning. Basement Hot Tub (Sold As Is). (Id:23934)
CALL1.877.896.6727
Property Price
$1,150,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$230,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$920,000
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$19,475
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$250,975
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$246,975
Monthly Payment
$4,213
This Fabulous Newly Renovated 4 Bedroom 3 Bath House On A 80 X 100 Ft Lot With Beautiful Landscaping. Is Located On A Quiet Street In A Very Sought After Neighborhood. Modern Kitchen And Large Central Island With Quartz Countertops. Brand New Appliances, Steps To Southlake Hospital, Transit And Various Schools. Solid Walnut Kitchen Cabinets In Basement Apartments**** Extras **** Includes: 2 Fridge, 2 Stove, 2 Dishwasher, And Washer ,Dryer, Shed In Back, Hot Water Heater (Rental 2022), Security System (3Yr Contract With Adt) All Elf's (Id:23934)
CALL1.877.896.6727
Property Price
$1,188,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$237,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$950,400
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$20,235
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$259,335
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$255,335
Monthly Payment
$4,353
Prime Location In Prestigious Glenway Estates, Beautiful & Spacious 3 Bedroom Home, Open Concept Dining, Kitchen, Breakfast Area & Family Room. Maximized Living Space With Finished Basement Including Bathroom. Upgrades Galore, Modern Decor, Hardwood Floors At Main Floor, Classic Kitchen With Granite Counter And Center Island / Breakfast Bar, Stainless Steel Appliances. All Within Walking Distance To Parks, Schools, Community Centers And Shopping.**** Extras **** All Window Coverings, Refrigerator, Stove, Dishwasher, Range Hood Van, Washer And Dryer, Ceiling Electrical Lighting Fixtures. Hot Water Tank Is Rental. (Id:23934)
CALL1.877.896.6727
Property Price
$938,800
Minimum Down Payment (%)
7.34%
Minimum Down Payment ($)
$68,880
Mortgage Insurance ($)
$34,797
Mortgage Required ($)
$904,717
Best Mortgage Rate (%)
2.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$15,251
Mortgage Insurance PST
$2,784
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$88,415
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$84,415
Monthly Payment
$4,143

Mortgages In Newmarket

Newmarket is a unique place to live for a variety of reasons yet entices home buyers from all over Canada and beyond! Newmarket is approximately a 45-minute public transit commute to Toronto (a huge perk!), there is just about any type of housing stock here including vacant land to build on, homes are affordable, and neighbourhoods are 'family-oriented'. There are countless parks, city-like amenities, great schools, excellent trails for cycling & walking, and top-notch golfing venues. If you have spotted a home that would be perfect for you, then why not use a Newmarket mortgage calculator to see just how much that home would cost you each month via a mortgage loan? There are choices when it comes to mortgage types, like an adjustable rate mortgage (reviewed regularly and your interest rate adjusts to the prime rate), a variable rate mortgage (your interest rate keeps pace with the prime rate) and a fixed rate mortgage (your interest rate is locked in for a certain term). There are other mortgage products like a hybrid mortgage (utilizes the benefits of both a fixed rate mortgage & a variable rate mortgage), and a conventional mortgage (substantial down payment of 20% or more). Therefore, this explains why a mortgage calculator is such a great tool!
Newmarket offers home buyers a well-balanced lifestyle and thus makes it a fantastic place to start or raise a family. After repeatedly using a mortgage calculator, you can sit down with a mortgage broker, your mortgage specialist at your bank or any other lender to ascertain your affordability for a new home. Keep in mind that the more risk you pose to the lender financially, the higher the interest rate will be imposed on you. Lenders want to see great credit, little debt, solid income, and a fat down payment with lots of money saved to spare for closing costs. You will have moving expenses too, new utilities hookup, land/property taxes to pay, and maybe be asked to insure the mortgage loan itself, besides obtaining insurance for your home & property if applicable. Do you get the mortgage loan put into your hands and then you make an offer on a home? No. You will have to have a lawyer who (if you are approved for a loan) will hold the loan funds in trust. Do you need a real estate agent? Having a professional realtor work on your behalf is a personal choice, but advisable as realtors know every detail involved in purchasing a home.