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 Examples

Presenting An Incredible Opportunity To Own A 3 Bedroom Home Steps To Main Street! Ideal For First Time Home Buyers & Investors, This Home Features A Great Flr Plan Filled With Natural Light, Spacious Kitchen With Walk-Out To Private Backyard With Newer Fence. Updates Included Fresh Paint, Furnace, Newer Flring & Updated Electrical & Plumbing. Stroll To Main St., Fairy Lake & Riverwalk Commons To Enjoy Various Events & Restaurants! This Is The One - Don't Miss Out!**** Extras **** Fridge(As-Is), Stove(As-Is), Washer(As-Is), Dryer(As-Is), Bidw(2019), Freezer In Kitchen(As-Is), Electrical Lighting Fixtures, Wdw Covgs, Broadloom With Id, Range Hood / Vent(As-Is), Air Conditioner Unit X2, Hot Water Tank (Rental) Id:23934)
CALL1.877.896.6727
Property Price
$489,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,450
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$6,255
Mortgage Insurance PST
$1,487
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,692
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$29,692
Monthly Payment
$2,162
Immaculate 860 Square Ft Lakeforest Model With South Facing Balcony Overlooking Bogart Pond. This 2 Bedroom, Split Layout, Condo Offers Neutral Decor & An Open Concept Kitchen / Dining Room / Living Room With 2 Walkouts To A Private Balcony. Many Building Amenities Included Guest Suites, Party & Billiard Rooms, & Outdoor Barbeque Area. Park Like Setting With Walking Trails, Mature Trees & Lush Green Space. Demand Location Close To Transit, Shopping, Magna Centre & Hwy.404.**** Extras **** All Elf's, All Window Coverings, 2 Ceiling Fans, Fridge, Stove, Built-In Dishwasher, Built-In Microwave / Range, Stackable Washer And Dryer, Shelving, Closet Organizer, Phantom Blind, Medicine Cabinet, And Grab Bars. (Id:23934)
CALL1.877.896.6727
Property Price
$519,000
Minimum Down Payment (%)
5.18%
Minimum Down Payment ($)
$26,900
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$6,855
Mortgage Insurance PST
$1,575
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$36,830
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$32,830
Monthly Payment
$2,290
Fabulous 3 Bedroom Bungalow The High Demand Area Of Armitage Village. Close To All Amenities, Schools, Shopping, Kitchen Walkout To Large Deck, Private Hedged Backyard, Finished Basement, Freshly Painted, Main Floor Laundry, Entrance To Double Car Garage C / With Newer Garage Doors & Remotes. Excludes Living Room Curtains.**** Extras **** Fridge, Stove, Washer/ Dryer, Dishwasher All Appliances As Is, Electrical Light Fixtures. Exclude: Wheel Chair Lift In Garage. Hot Water Tank Rented. (Id:23934)
CALL1.877.896.6727
Property Price
$848,800
Minimum Down Payment (%)
7.05%
Minimum Down Payment ($)
$59,880
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,451
Mortgage Insurance PST
$2,525
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$77,356
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$73,356
Monthly Payment
$3,671
Two Storey Century Home Has 3 Bedrooms, 1 & 1 / 2 Baths, 2Nd Floor Sunroom With A Detached Large 2 Car Garage.Large ""L"" Shaped Lot Located In Heart Of Downtown Newmarket. Close To Go Train, Hospital, Restaurants And Walking Paths. (Id:23934)
CALL1.877.896.6727
Property Price
$625,900
Minimum Down Payment (%)
6.01%
Minimum Down Payment ($)
$37,590
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$8,993
Mortgage Insurance PST
$1,883
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$49,966
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$45,966
Monthly Payment
$2,738
Spectacular 75 X 100' Property Situated On A Private Fenced Lot In Central Newmarket. Huge Private Backyard To Large Deck From Kitchen And Family Room. This Bright, Clean Home Is Move In Ready. Walking Distance To Historic Main Street, Fairy Lake And Tom Taylor Trails. Close To Southlake Hospital, With To Schools, Shopping, Major Hwys, And Easy Access To Yrt And Go Train.**** Extras **** C / Air, All Window Coverings / Blinds, Fridge, Stove, Built In Oven, Cooktop With Grill, Dishwasher, Elf's, Washer / Dryer. Exclude: Hot Tub And Cube Freezer. (Id:23934)
CALL1.877.896.6727
Property Price
$828,000
Minimum Down Payment (%)
6.98%
Minimum Down Payment ($)
$57,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,035
Mortgage Insurance PST
$2,465
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$74,800
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$70,800
Monthly Payment
$3,584

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.