Newmarket Mortgage Calculator
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Enter the amount that you are planning on paying for the property
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Option #1
Option #2
Option #3
Option #4
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Enter the amount that you will pay upfront
toward the property to obtain a mortgage
–
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CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
+
$19,000
$13,950
$11,900
$0.00
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Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
=
$494,000
$463,950
$436,900
$400,000
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Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
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Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
STEP 2
Select province to get current
mortgage rates
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Mortgage type specifies whether the interest
rate is variable or fixed
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Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Select
Select
Select
Select
4.49 %
4.84 %
4.89 %
4.94 %
4.94 %
4.99 %
4.99 %
4.99 %
5.04 %
5.04 %
5.09 %
5.14 %
5.74 %
5.74 %
6.49 %
STEP 3
Select one of the mortgage
rates currently available
?
Please select how often you would like
to make your mortgage payments.
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
–
–
–
–
?
This is an estimate of how much you should expect
to spend upfront in order to make this purchase
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
Newmarket Mortgage Calculator Examples
Welcome Home To An Executive Luxury Home On A Premium-Sized And Landscaped 54 Ft X 141 Ft Lot In Prestigious Glenway Estates In The Heart Of Newmarket With A 3 Car Garage, A Bright Walk-Out Basement And A Resort-Like Entertainer's Delight Backyard Including A Fuss-Free Oversized Balcony With Glass Railing, Scenic Salt-Water Pool With Waterfalls And A Sprawling Two Level Interlock Patio. Step Inside This Bright And Spacious 4170 Square Ft Home (Per Mpac) Featuring 10 Ft Ceilings On The Main Level And 9 Ft Upstairs. Grand Features Include Soaring Cathedral Ceilings, Detailed Wall & Ceiling Mouldings, A Modern Gourmet Oversized Open Concept Eat-In Kitchen With Top-Of The Line Built In Appliances & Walk-In Pantry; Mud Room With Built-In Storage, Bench & Walk-In Closet; Upper Level Full-Sized Laundry Room With Ample Storage; Large Sized Bedrooms With Huge Closets Including A Primary Suite With Two Walk-In Closets; Spa-Like Baths; Walk-Out Lower Level With Full Sized Windows And Framed For Completion+**** Extras **** See Full Media Attached To Listing! All Existing Appliances, Electrical Lighting Fixtures & Window Coverings (Full Feature Sheet At Property) Entertainer's Delight Maintenance Free Composite Deck With Glass Railing; Newer Saltwater Pool & Equipment++ (Id:23934)
CALL1.877.896.6727
Property Price
$2,499,988
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$499,998
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,999,990
Best Mortgage Rate (%)
4.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$48,975
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$550,472
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$546,472
Monthly Payment
$11,058
Well Kept Detach Home In Summerhill / Newmarket, Premium Deep Lot, Eat-In Kitchen With With Walk-Out To An Entertainment Sized Patio, Insulated Double Garage, Finished Basement With Extra Sound Proofing And Laminate Floors, Close To All Amenities And Public Transit, Tenant Will Move Out By The Closing. Rough-In For Central Vac.**** Extras **** Fridge, Stove, Built-In Dishwasher, Central Vac Rough-In, Washer, Dryer, Garden Shed, All Electrical Light Fixtures, Central Air Conditioning. (Id:23934)
CALL1.877.896.6727
Property Price
$1,289,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$257,800
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,031,200
Best Mortgage Rate (%)
4.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$22,255
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$281,555
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$277,555
Monthly Payment
$5,702
Beautifully Maintained And Renovated Raised Bungalow In The Heart Of Newmarket. Nestled At The End Of A Quiet Cul De Sac, But Still Steps To All The Amenities Of The Village Atmosphere Of The Downtown Core. A Quick Drive To Upper Canada Mall, Gourmet Restaurants, And Easy Access To The Go Train And 404 Should You Need To Commute Quickly To Downtown Toronto. This Home Features Hardwood Throughout, Three Large Bedrooms, & Three Luxurious Bathrooms. Perfect For A Growing Family With Lots Of Young Families Nearby. Move-In, And Start Enjoying The Home Right Away. Main Bath (2017), 41 New Pot Lights (2016)! New Roof (2012), New Master Bath (2016), Newly Finished. Basement (2017), New Hardwood (2015), Kitchen Reno (2016), Furnace & Air Conditioner (2012), Vinyl Siding (2016), Breaker Panel (2014), Most Windows / Front Door Patio Door, Front Living Room Window & Basement Window (2016) Etc.**** Extras **** Gas Furnace & Equip, Central Air Conditioning, Elf's, Window Coverings, Garage Door Opener & Remote, Bathroom Mirrors, Stainless Steel Built-In Dishwasher, Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel Range Hood, Water Softener (Owned), Washer & Dryer. Extended Porch, Dbl Car Garage, Garage Access From Basement. (Id:23934)
CALL1.877.896.6727
Property Price
$989,900
Minimum Down Payment (%)
7.47%
Minimum Down Payment ($)
$73,990
Mortgage Insurance ($)
$36,636
Mortgage Required ($)
$952,546
Best Mortgage Rate (%)
4.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$16,273
Mortgage Insurance PST
$2,931
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$94,694
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$90,694
Monthly Payment
$5,267
Experience Comfort And Elegance In This Stunning Semi-Detached Home Located In The Highly Desirable Central Bayview & Mulock Area Of Newmarket. This 3+1 Bedroom And 2.5 Bath (Including One 3 Pieces Bath In Bsmnt) Property Exudes Warmth And Coziness, Thanks To Its Open Concept Floor Plan On The Main Level, Stainless Steel Appliances With Quartz Countertops, Beautifully Finished Bsmnt With A Recreation Room, & Bedroom / Office, & Ensuite Bath. This Incredible Gem Comes With A Bonus Feature Of No Sidewalk! Backyard Has Recently Undergone A Transformation With Freshly Laid, Lush Green Sod. Enjoy The Convenience Of Being Just A Few Steps Away From The Future Site For The Go Train. Situated In A Coveted South-Facing Lot, The Fully-Fenced Yard Boasts Spacious Decking Area That's Perfect For Entertaining Guests And Enjoying Some Outdoor Relaxation. Schedule A Viewing Today!**** Extras **** Stainless Steel. Fridge, Stove, Microwave (2022), Carpet & Paint (2021), Garage Door (2009), Driveway (2018), Windows (2017). Please Check The Property Website: Http://Www.490Heddle.Ca / Mls (Id:23934)
CALL1.877.896.6727
Property Price
$988,000
Minimum Down Payment (%)
7.47%
Minimum Down Payment ($)
$73,800
Mortgage Insurance ($)
$36,568
Mortgage Required ($)
$950,768
Best Mortgage Rate (%)
4.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$16,235
Mortgage Insurance PST
$2,925
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$94,460
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$90,460
Monthly Payment
$5,257
Beautifully Finished Four (4) Bdrms Home In One Of The Premiere Areas Of Newmarket. Brand New Kitchen With Quartz Counters And Top Of The Line Lg Appliances, Featuring New Bathrooms And Refinished Hardwood Floors Throughout. High Efficiency Windows Replaced In All Rooms With A Huge (30 * 20) Brand New Deck Surrounded With Trees. One Of The Biggest Lots Featuring A Sprinkler System In This Great Location Demands To Be Seen. Heated Garage With Oversized Driveway To Park Up To 6 Cars.**** Extras **** Large Garden Shed, New Light Fixtures, Grand Mantel With Napolean Gas Fireplace, Central Air Conditioner And Central Vacuum; Hardwired Security System Sensors; With Custom Shelving Downstairs For Extra Storage And Entire House Freshly Painted. (Id:23934)
CALL1.877.896.6727
Property Price
$1,298,800
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$259,760
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,039,040
Best Mortgage Rate (%)
4.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$22,451
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$283,711
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$279,711
Monthly Payment
$5,745
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.