Oakville 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 Oakville 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

Oakville Mortgage Calculator Examples

Welcome To This 3+1 Bedroom & 3 Full Bath Bungalow Nestled On A Large Mature Lot On Quiet Desired Street In West Oakville! Enjoy Entertaining In This Bright & Airy Open Concept Design. Living Room Features Cozy Gas Fireplace With Media Niche, Open To Dining Room Area, Large Enough For Those Big Family Get Togethers! Spacious Kitchen With Island, Breakfast Bar, Backsplash, Stainless Steel Appliances, Sliding Door Walk-Out To Private, Fully Fenced Backyard! Easily Work From Home In Convenient Den With French Door & View Of Rear Yard! Private Master Suite Is Bursting With Natural Light, Recently Updated Ensuite, Sliding Door Walk-Out To Backyard, Perfect Spot For A Hot Tub! 2 More Great Sized Bedrooms & 4Pc Bathroom. Pot Light & Hardwood. Main Floor Laundry With Storage Complete This Level. The Lower Level Features A Large 4Th Bedroom With Pot Lights And Above Grade Windows, Wet Bar / Kitchenette & 3Pc Bath. Huge Unfinished Open Space To Create An Exercise Room / Gym, Kitchen, In-Law Suite Potential. Tons Of Storage. Double Car Garage & Driveway Can Easily Accommodate 6 Vehicles. Make This Rear Yard Your Personal Oasis. Easily Entertain, Host Summer Bbqs Or Just Relax With Total Privacy, Mature Trees And Shed For Storage! Roof Replaced Approx. 2016 (40Yr Shingles). Surrounded By Multi Million Dollar Custom Homes! Great Layout To Make This Home Your Own Or Build Up! Close To Great Schools (French Immersion, Appleby College), Lake, Parks, Transit, Shopping, Highways, Recreation Centre, Library & So Much More! (Id:23934)
CALL1.877.896.6727
Property Price
$1,298,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$259,780
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$22,453
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$283,733
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$279,733
Monthly Payment
$4,650
Executive Freehold Modern 3-Storey Town With Contemporary Finishes,Built By Great Gulf. Less Than 2Yrs New, $$$ Spent On Upgrades, Carpet Free, Upgraded Wooden Floors, 9' Ceiling On All Floors, Open Concept Second Floor Includes Upgraded Kitchen With Quartz Counters, Stainless Steel Apps,Huge Living Room And Dining Room With Walk-Out To The Spacious Patio.Third Floor Features 3 Bedrooms And Two Full Baths And Upgraded Master Ensuite. Spacious Den & Full Bath On Ground Floor.**** Extras **** Fridge,Stove,Washer,Dryer,Dishwasher, Air Conditioner, Garage Door Opener With Remote, All Window Coverings, All Electrical Lighting Fixtures. Fantastic Location Walk To Walmart And Superstore, Parks, Transit. Close To High Rated Oakville Schools, Hospital, Major Highways And Go Train. (Id:23934)
CALL1.877.896.6727
Property Price
$879,900
Minimum Down Payment (%)
7.16%
Minimum Down Payment ($)
$62,990
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$14,073
Mortgage Insurance PST
$2,614
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$81,177
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$77,177
Monthly Payment
$3,802
Renovated 4 Bedrm, 3 Bathrm Home In Old Oakville On Ravine Lot. Walking Distance To Downtown. Open Concept Main Living. Kitchen With Island, Granite Countertops And Stainless Steel Appliances. Mudroom With Garage Access. Hardwood Flooring. Master Bedrm With 3Pc Ensuite. Lower Level Family Room With Fireplace And Walkout. Fourth Bedrm With 3 Piece Ensuite Can Be Used For In Law Or Nanny Suite. Basement Level Features A Recreation Room And Bedroom.Ot Highschool Catchment**** Extras **** Stainless Fridge, Gas Stove, Dishwasher, Microwave. Washer And Dryer. Garage Door Opener And Remote. Excluded: Small Maple Tree In Backyard (Id:23934)
CALL1.877.896.6727
Property Price
$1,399,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$279,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$24,455
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$305,755
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$301,755
Monthly Payment
$5,008
Bungalow Nestled On Large Mature Lot On Desired Street In West Oakville Surrounded By Multi Million Dollar Custom Homes! Open Concept Design! Living Room, With Cozy Gas Fp & Media Niche, Dining Room. Spacious Kitchen With Island, Breakfast Bar, Sliding Dining Room Walk-Out To Private, Fully Fenced Yard! Work From Home In The Den With View Of Yard! Master With Private Ensuite, Sliding Door Walk-Out, Perfect Spot For A Hot Tub! Recreation Room, 4Th Bedroom & 3Pc Bath In Basement! Make It Your Own Or Build Up!**** Extras **** Close To Lake, Recreation Centre, Libraries, Great Schools, Parks, Transit, Hwys & More! Includes: All Appliances, All Electric Light Fixtures, All Window Coverings, C / Vac (As Is), Shed. Hot Water Tank Rental (Id:23934)
CALL1.877.896.6727
Property Price
$1,298,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$259,780
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$22,453
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$283,733
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$279,733
Monthly Payment
$4,650
Spectacular ""River Oaks Home"" Situated On A Quiet Cres, Family Safe Street. Backing Onto Green Pathway Trail With A Finished Basement. Beautifully Finished Large 4 Bedroom Solid Brick Home Features Extensive Upgrades: Hardwood Floor, Pot Lights, Granite Counters, Stainless Steel Appliances, New Entry And Glass Doors In Kitchen, New Garage Doors, Large Family Size Kitchen With Walk-Out To Huge Party Deck, Professionally Landscaped With Tumbled Stone Driveway And Walkway**** Extras **** Stainless Steel Fridge & Stove, Microwave, Built-In Dishwasher, Pot Lights, New Entry Door, New Rear Door Off Kitchen, Granite Counter Tops, Rear Deck, Fencing, New Driveway And Walkway, Hardwood Floors, 2 Fireplaces. (Id:23934)
CALL1.877.896.6727
Property Price
$1,396,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$279,200
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$24,395
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$305,095
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$301,095
Monthly Payment
$4,997

Mortgages In Oakville

An active lifestyle is easily achieved when home buyers set their sights on Oakville! Countless parks, golf clubs & courses, recreational outlets & trails makes living in this city exciting and explorable! The real estate in this city is just as exciting, from executive townhomes, to chic condominiums, to loft-like conversions, to family-sized 2 & 3 level homes and luxurious stately houses, home buyers can hit two birds with one stone... quality and budget-friendly! Oakville is like permanently living in a getaway vacation spot for its affluent amenities, boating opportunities, beach downtime, and large parks. In order to check where your affordability point is, just simply use an Oakville mortgage calculator. A mortgage calculator can quickly let you know if a certain home is within your price range by simply entering the price of the home, the expected interest rate, and the length of time you wish to extend the loan (amortization period). If the bottom line is 'doable', then it's time to continue forward to familiarize yourself with the varying kinds of mortgage products and types of lenders. Having this in-depth information from the mortgage calculator has value to the outcome of your commitment with a mortgage loan, so sit back and take in the information of what may be in your best interest.
There is a mortgage loan product out there for Oakville reality that may suit you and your finances perfectly, but which one would work the best (from your answers with a mortgage calculator)? Some home buyers prefer a fixed rate mortgage that is an open mortgage, which means the interest rate is fixed or locked in for a term/amortization period with the option to pay the loan off early without a penalty. If the fixed rate mortgage is a closed mortgage, then the set terms of agreement cannot be changed for the life of the mortgage loan. Then, there are home buyers who prefer a variable rate mortgage, where the interest rate is dictated by the market and is not locked in (it will go up or down during the amortization period). A variable or adjustable mortgage can also be an open mortgage or a closed mortgage. As far as the down payment is concerned, lenders like to see up to 20% or more of the property value be put down (a sizeable down payment is a low ratio mortgage). If there is only a small down payment or no down payment, this is a high ratio mortgage. There are other mortgage product types like an interest-only mortgage and mortgage loans that deal with equity.
The lenders that you may encounter if you are looking at all options will vary just like the real estate in Oakville. Banks are a bit tough when it comes to qualifying for a mortgage loan; yes, they offer the lowest interest rate, but they can afford to do that because they source their money directly from the government. Mortgage brokers can source their money for lending from private, accredited sources and have less restrictions on their qualifying parameters, but they do charge higher interest rates. Third party lenders that claim to work on behalf of any level of borrower (especially borrowers that have a lower credit rating, no down payment etc.) charge an even higher interest rate, which can put borrowers at risk of constantly battling interest rate payments each month and not the principle of the mortgage loan. The better your financial standing and the larger the down payment is, the more options will open up when it comes to the kind of lenders you can work with. Pre-qualifying for a mortgage loan is a big plus to home buyers because it gives them peace of mind as to your affordability zone, and it stands out to sellers that have multiple offers in front of them.