Richmond Hill 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 Richmond Hill 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

Richmond Hill Mortgage Calculator Examples

***Must See***, Absolutely Stunning Sun Filled Family Home, 2 Years New (3,700Sqft) Located On High Demand Mill Pond Area, 10' Ceiling On Main, 9' Ceiling On 2Nd Floor, Gorgeous 4 Bedrooms With 4 Ensuites And 6 Walk-In Closets, Many Upgrade (Kitchen Cabinetry, Skylight & Walk-Up Basement, Pot Light & Soffit Light), Huge Great Room (About 20'X15.5' Combined The Family & Living Room With Waffle Ceiling), 2-Sided Fireplace, Beautiful Hardwood Floor Throughout, Pot Lights Throughout, 2Nd Floor Laundry. Kitchen With Beautiful Center Island (Eat-In), Servery With Walk-In Pantry In Between Kitchen And Dining, Beautiful Quartz Countertop, Backsplash, Breakfast Area Walk-Out To Yard. Basement With High Ceiling. Don't Miss The Opportunity To Own This Roomie Comfortable Beautiful Family Home.**** Extras **** All Electrical Light Fixtures, Stainless Steel (Fridge, Gas Stove, Dishwasher & Rangehood), Washer & Dryer & All Window Covering. (Id:23934)
CALL1.877.896.6727
Property Price
$2,399,800
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$479,960
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,919,840
Best Mortgage Rate (%)
4.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$46,470
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$527,930
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$523,930
Monthly Payment
$11,155
Discover The Personifcation Of Luxurious Living In This Stunning 4-Bedroom, 3-Ensuite Home, Spanning An Impressive Over 3000 Square Feet (Includingsunroom). As You Enter, The 18 Grand Hall Welcomes You With A Dazzling Sparkle Crystal Chandelier, Setting The Tone For Elegance Andsophistication.The Living Room Boasts A Cathedral Ceiling Adorned With Crystal Lights And Pot Lights Throughout, Creating A Warm And Inviting Atmosphere. Thegranite Kitchen, Equipped With Stainless Steel Appliances, Is A Culinary Enthusiast's Dream, While The Bright Sunroom Provides The Perfect Space For Cherishedfamily Gatherings.The Fnished Open Concept Basement Offers A Large Recreation Room, Second Kitchen, A Comfortable Bedroom, And A 5Pc Whirlpool Bath, Making It Idealfor Entertaining Or Hosting Guests. Conveniently Located Near Plaza, Parks, Best Ranking Schools: Richmond Rose Ps, Bayview Secondary High,Community Ctr & Bus.**** Extras **** All Electrical Lighting Fixtures, Crystal Light Fixtures, Stainless Steel Appliances:(Fridge, Stove, Dishwasher, Basement Stove), Basement Fridge & Dishwasher, Washer, Dryer, Central Air Conditioning, Central Vacuum, Hef, Gods (Id:23934)
CALL1.877.896.6727
Property Price
$2,298,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$459,600
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,838,400
Best Mortgage Rate (%)
4.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$43,925
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$505,025
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$501,025
Monthly Payment
$10,682
Great Starter Spacious Family Home Featuring 4 Bedrooms, Laminate Floors Thru Out, Oak Stairs & Pickets, 9Ft Ceilings On Mail Floor. Open Concept Kitchen, Upgraded Kitchen Cabinets & Ceramic Backspash, Fireplace In Family Room, Over 1800 Square Feet. 4Pc Washroom In Prime Room, Linen Closet. Direct Access To House From Garage, Air Cleaner, Central Air Conditioning, No Walkway, Close To Public Transit, Yonge St & Plaza (Id:23934)
CALL1.877.896.6727
Property Price
$1,249,900
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$249,980
Mortgage Insurance ($)
$0
Mortgage Required ($)
$999,920
Best Mortgage Rate (%)
4.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$21,473
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$272,953
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$268,953
Monthly Payment
$5,810
Great Family Bungalow In Desirable Crosby Area. Walk To Top-Ranked Bayview High School, Shops, Transit! Upgrades Galore! Hardwood Flooring, Double Door Entry. Updated Windows, Doors And Baths. Spacious Basement With Large Recreation Room And 3 Bedrooms And 3 Pce Bath With Separate Entrance To Possible In-Law Suite. Fully Fenced Yard With Huge Play Area. Perfect For Family Home. Move Right In!!**** Extras **** Fridge, Stove, Washer, Dryer, Built-In Dishwasher. All Window Coverings, All Electrical Lighting Fixtures (Id:23934)
CALL1.877.896.6727
Property Price
$1,380,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$276,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,104,000
Best Mortgage Rate (%)
4.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$24,075
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$301,575
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$297,575
Monthly Payment
$6,415
Location! Location! Location! Very Bright, Freehold Townhome With Finished Basement Apartment With Separate Entrance, 3 Washrooms, Newly Renovated, Newer Roof, Newer Furnace Newer Air Conditioner. Large Kitchen & Dining Area. Walk-Out From Living Room To Deck & Large Storage Room In Backyard. In The Heart Of Richmond Hill, Close To School, Park, Shopping Mall, Transit, Large Backyard, Extra Storage Room In The Back Yard, 3 Space Parking In Driveway . Do Not Miss It , Must See..**** Extras **** Two Fridge, Two Stove, Dishwasher, Two Washer And Dryer. All Window Coverings & Elf's. (Id:23934)
CALL1.877.896.6727
Property Price
$999,000
Minimum Down Payment (%)
7.50%
Minimum Down Payment ($)
$74,900
Mortgage Insurance ($)
$36,964
Mortgage Required ($)
$961,064
Best Mortgage Rate (%)
4.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$16,455
Mortgage Insurance PST
$2,957
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$95,812
First Time Home Buyer
Land Transfer Tax Credit
-$4,000
Cash Needed
$91,812
Monthly Payment
$5,584

Mortgages In Richmond Hill

Richmond Hill is one of those great little cities (not far from Toronto) that has fantastic neighbourhoods and are sprinkled with incredible real estate! Encompassed by great schools, golf courses, parks galore, and abundant amenities, this city is perfectly suited for young couples, families with children, and business professionals. In the market for a new home? If the answer is yes, then check out the MLS listings to peruse some incredible homes that have potential to be YOUR next home! While looking at the market listings, why not use the Richmond Hill mortgage calculator to help match your affordability to homes that catch your attention? Free to use (a mortgage calculator can be found amongst other useful tools on your banking website), this kind of calculator can figure out the monthly payments on a home by entering the interest rate, the amortization period, and the purchase price. This is just the basic calculator, for there are calculators that additional financial information can be entered into to get a more in-depth and accurate monthly payment amount. When a mortgage loan is the direction you will go in to purchase and secure your new home, then you should familiarize yourself with what mortgage loan products are out there & the lenders that work with home buyers.
There are many ways to finance your new Richmond Hill home purchase, but choosing the right lender is just as important as the mortgage loan itself. There are major banks and credit unions that are traditionally the lenders that home buyers consider. Although their interest rates tend to be lower and more attractive, the criteria to be approved is quite extensive. Loan companies, mortgage broker companies, some insurance companies, and trust companies also deal in mortgage loan products... however, they source their funding from private entities and usually charge higher interest rates. Shopping around for the 'right' lender can also depend on your financial situation. Some home buyers are self-employed, which can 'turn off' some lenders from approving a mortgage loan application. For home buyers that have issues with past credit problems or self-employment, there are lenders that are willing to work with you. Lenders work with software programs just like the mortgage calculator to ascertain your financial information, especially when pre-qualifying for a mortgage. Critiquing what mortgage loan product would be right for you will depend on a few factors. Some mortgage products can lock in the agreed-upon interest rate for a specified term (fixed rate mortgage) or allow the interest rate to keep pace with the market (variable/adjustable interest rate mortgage).
Of course, there are different other mortgage products available to you, like low ratio/high ratio mortgages (this depends on how much of a down payment is available if any), conventional mortgages (loan is up to 80% of the appraised value of the home), open/closed mortgages (open allows for early payoff and closed cannot be renegotiated), and so on, so you will have choices and a decision to make once you are able to sit down with a trusted lender. Richmond Hill is worthy of a property investment, but it is just a matter of how. The website of your bank (a trusted site) has multiple tools for you to use on your own (besides a mortgage calculator) to help you understand how the interest rate, the cost of the home, the type of mortgage product, the payment frequency, and the length of time you will carry the loan is brought together to get you that bottom line. Compare mortgage tools to give you an even deeper perspective on how different mortgage products can affect you financially over a period of years. Splitting a mortgage is an option with some lenders, which can be a huge money-saver in the long run.