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•• mortgage rates• Fixed Mortgage Rates• 1-Year Fixed Mortgage Rates• 2-Year Fixed Mortgage Rates• 3-Year Fixed Mortgage Rates• 4-Year Fixed Mortgage Rates• 5-Year Fixed Mortgage Rates• 6-Year Fixed Mortgage Rates• 7-Year Fixed Mortgage Rates• 8-Year Fixed Mortgage Rates• 9-Year Fixed Mortgage Rates• 10-Year Fixed Mortgage Rates• Variable Mortgage Rates• HELOC Mortgage Rates• 3-Year Variable Mortgage Rates• 5-Year Variable Mortgage Rates• Bank Mortgage Rates• HSBC Mortgage Rates• Tangerine Mortgage Rates• Bank of Montreal Mortgage Rates• CIBC Mortgage Rates• Laurentian Mortgage Housinng TD Bank Mortgage Rates• RBC Royal Bank Mortgage Rates• Scotiabank Mortgage Rates• National Bank Mortgage Rates• PC Financial Mortgage Rates• Broker Mortgage Rates• Invis Mortgage Rates• Zilla Mortgage Mortgage Rates• CanWise Financial Mortgage Rates• Butler Mortgage Mortgage Rates• Mortgage Intelligence Dereck Landry Mortgage Rates• Top Producers Dominion Lending Centres Mortgage Rates• The Mortgage Emporium Mortgage Rates• Mortgage Rate History• Speak to a Mortgage Expert• mortgage brokers• Ontario Mortgage Brokers• BC Mortgage Brokers• Alberta Mortgage Brokers• Quebec Mortgage Brokers• Saskatchewan Mortgage calculator canada mortgage and housing Brokers• Manitoba Mortgage Brokers• New Brunswick Mortgage Brokers• Nova Scotia Mortgage Brokers• Newfoundland Mortgage Brokers• mortgage calculators• Payment Calculator• Affordability Calculator• Land Transfer Tax Calculator• Mortgage Insurance Calculator• Refinance Calculator• Penalty Calculator• Debt Consolidation Calculator• Maximum Equity Refinance Calculator• education centre• Buying a Home• Bank vs.

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amortization• Variable vs. fixed mortgage• Prepayment options• Mortgage down payment• Mortgage default insurance• RRSP for down payment• Closing costs• Land transfer tax• First-time home buyer tax credit• Mortgage broker vs.

bank• Mortgage approval process• Broker mortgage rates• Dominion mortgage rates• Invis mortgage rates• All broker mortgage rates Mortgage Payment CalculatorOur mortgage payment calculator calculates your monthly payment calculwtor shows you the corresponding amortization schedule. If you are purchasing a home, our payment calculator allows you to test down payment and amortization scenarios, and compare variable and fixed mortgage rates.

We also help you calculate CMHC insurance and land transfer tax. Down paymentDown payment The amount of money you pay up front to obtain a mortgage. The minimum down payment in Canada is 5%. For down payments of less than 20%, home buyers are required to purchase mortgage default insurance, commonly referred to as CMHC insurance.Down payment 1 (%)Down payment 2 (%)Down payment 3 (%)Down payment 4 (%)minusDown payment 1 ($)Down payment 2 ($)Down caluclator 3 ($)Down payment 4 ($)Mortgage insuranceMortgage insurance Mortgage default insurance, commonly referred to as Dalculator insurance, protects the lender in the case the borrower defaults on the mortgage.

Mortgage default insurance cwnada required on all mortgages with down payments of less than 20%, which are known as high ratio mortgages. Mortgage default insurance is calculated as a percentage applied to your mortgage amount.plusTotal Mortgage Mortfage periodAmortization period The length mortgage calculator canada mortgage and housing time it will take a homeowner to pay off his/her mortgage.

In Canada, the maximum amortization period is 25 years. Longer amortization periods allow homeowners to make smaller monthly payments, but equate to more interest paid over the life of the mortgage. Amortization period 1Amortization period 2Amortization period 3Amortization period 4Mortgage rateMortgage rate The rate of interest you will pay on the outstanding balance of your mortgage.

This is determined by the mortgage type and mortgage provider. To see how rates vary by type and provider, click on "Select Rate" link on the •• mortgage rates• Fixed Mortgage Rates• 1-Year Fixed Mortgage Rates• 2-Year Fixed Mortgage Rates• 3-Year Fixed Mortgage Rates• 4-Year Fixed Mortgage Rates• calcu,ator Fixed Mortgage Rates• 6-Year Fixed Mortgage Rates• 7-Year Fixed Mortgage Rates• 8-Year Fixed Mortgage Rates• 9-Year Fixed Mortgage Rates• 10-Year Fixed Mortgage Rates• Variable Mortgage Rates• HELOC Mortgage Rates• 3-Year Variable Mortgage Rates• 5-Year Variable Mortgage Rates• Bank Mortgage Rates• HSBC Mortgage Rates• Tangerine Mortgage Rates• Bank of Montreal Mortgage Rates• CIBC Mortgage Rates• Laurentian Mortgage Rates• TD Bank Mortgage Rates• RBC Royal Bank Mortgage Rates• Scotiabank Mortgage Rates• National Bank Mortgage Rates• PC Financial Mortgage Rates• Broker Mortgage Rates• Invis Mortgage Rates• Zilla Mortgage Mortgage Rates• CanWise Financial Mortgage Rates• Butler Mortgage Mortgage Rates• Mortgage Intelligence Dereck Landry Mortgage Rates• Top Producers Dominion Lending Centres Mortgage Cslculator The Mortgage Emporium Mortgage Rates• Mortgage Rate History• Speak mortgage calculator canada mortgage and housing a Mortgage Expert• mortgage calculator canada mortgage and housing brokers• Ontario Mortgage Brokers• BC Mortgage Brokers• Alberta Mortgage Brokers• Quebec Mortgage Brokers• Saskatchewan Mortgage Brokers• Manitoba Mortgage Brokers• New Brunswick Mortgage Brokers• Nova Scotia Mortgage Brokers• Newfoundland Mortgage Brokers• mortgage calculators• Payment Calculator• Affordability Calculator• Land Transfer Tax Calculator• Mortgage Insurance Calculator• Refinance Calculator• Penalty Calculator• Debt Consolidation Calculator• Maximum Equity Refinance Calculator• education centre• Buying a Home• Bank vs.

Mortgage Broker• Variable vs. Fixed Mortgage Rates• Down Payment Basics• Land Transfer Tax• Mortgage Default Insurance• Term vs. Amortization• Debt Service Ratios• Alternative Mortgages• Bad Credit• Second Mortgages• Private Mortgages• Self-Employed• New to Canada• Refinancing• Investment Property Mortgages• Buying a Condo• Pre-Construction• Condo Fees• Condo Insurance• Condo Mortgage Calculator• FAQ• Home Equity Line of Credit• Mortgages by Province• Ontario Mortgages• Quebec Mortgages• British Columbia Mortgages• Alberta Mortgages• Manitoba Mortgages• Saskatchewan Mortgages• Nova Scotia Mortgages• New Brunswick Mortgages• Newfoundland Mortgages• Prince Edward Island Mortgages• Mortgage Market and Statistics• Mortgage Statistics• Canadian Mortgage Reports• blog• company• About Us• RateHub Widgets• Press Centre• contact us • Compare Mortgage Rates• 5-year fixed mortgage calculator canada mortgage and housing rates• 5-year variable mortgage rates• Best mortgage rates• Bank mortgage rates• TD mortgage rates• RBC mortgage rates• All bank mortgage rates• Mortgage Calculators• Mortgage payment calculator• Mortgage affordability calculator• All calculators• Education Centre• Calculatlr vs.

amortization• Variable vs. fixed mortgage• Prepayment options• Mortgage down payment• Mortgage default insurance• RRSP for down payment• Closing costs• Land transfer tax• First-time home buyer tax credit• Mortgage broker vs. bank• Mortgage approval process• Broker mortgage rates• Dominion mortgage rates• Invis mortgage rates• All broker mortgage rates Mortgage Affordability CalculatorWhen shopping for a mortgabe home, the first step is to figure out how much you can afford.

Affordability is based on the household income of the applicants purchasing the house, the personal monthly expenses of those applicants (car payments, credit expenses, etc.), and the expenses associated with owning a home (property taxes, condo fees, mortage heating costs).

The calculator below will show you the maximum purchase price that you can afford.You also need to determine if you have enough cash resources to purchase a home. The cash required is derived from the moetgage payment put towards the purchase price, as well as the closing costs that must be incurred to complete the purchase.

Ratehub.ca can help you estimate these closing costs with first tab under our affordability calculator. Annual IncomeMonthly Living CostsEstimate for meAnnual Income: Before TaxApplicant Income Your gross income before-tax, including any bonuses and supplementary income.Property Tax:Property Tax An annual tax levied by the municipality in which your home is located.

We have used an estimate based on the average in your province.Co-Applicant Income: Before TaxCo-Applicant Income Your co-applicant's before-tax gross income. Your combined income will be used to calculate the mortgage you can afford.Condo Fees:Condo Fees Condo fees cover common building expenses and maintenance in multi-unit properties. We have used a default estimate of $300.Heating Costs:Heating Costs The total costs associated with heating your home and water.

We have used a default estimate based on provincial averages.Monthly debt paymentsCredit Card:Credit Card The average monthly interest owed on mortgags credit card balances. This does not mirtgage the balances themselves, only the interest portion.How much can I afford?Car Payment:Car Payment Your monthly leasingHousing Affordability CalculatorA fast and xalculator tool to find out how much home you can afford.

Change interest rates, fees, and income to test options.Required InformationEstimated Monthly ExpensesMortgage Rate :Property Tax :/monthDown Payment :Condominium Fees :/monthGross Monthly Income :Debt Payments :/month�� see chart below�� � � Based on your $4,000 Monthly Income and these Down Payment options :�USER Housinng Interest Rate - See Current Rates% Down Payment �25%20%15%10%5%Down Payment �$75,507$56,069$39,286$24,675$11,546Mortgage �$226,521$224,279$222,625$222,080$219,391��Max Home Price �$302,028$280,348$261,911$246,755$230,937��CMHC Insurance Fee �$0$2,242$3,895$4,441$7,130Total Caanada �$226,522$226,522$226,522$226,522$226,522��Monthly Mtg Pmts �$1,155$1,155$1,155$1,155$1,155TOTAL Monthly Pmts �$1,280$1,280$1,280$1,280$1,280��Amount of DOWN PAYMENT, INCOME make a difference��High Ratio - 5.00 % Down PaymentMax Home Price$200,000Your $10,000 Down Payment and yourGross Monthly Income of $4,000 results in a Maximum Home Priceof $200,000 using 95.00 % High Ratio Financing.Your first mortgage of $190,000 plus the 3.25 %mortgage insurance fee of $6,175 results in a total mortgageof $196,175.

Your monthly mortgage payments will be $1,000.���With Conventional ( 75.00 %) FinancingMax Home Price$40,000Under conventional financing criteria, based on a $10,000 (25%) Down Payment and Gross Monthly Income of $4,000,the Maximum Home Price is $40,000. Yourmortgage will be $30,000 with monthly payments of $153. The maximum is often limited by a small down payment. High Ratio financing may be required.�COMPARE RATESTERMOURSBANKS6.mo1yr.3yr.5yr.0000%0000%0000%0000%4.00%3.10%3.70%5.24%Quick CalculatorBack to Top��Figures are rounded to nearest dollar.The above information is for illustrative purposes only.

Wecannot guarantee its accuracy. Please contact yourfinancial advisor for more specific information.Calculator powered by CanadaMortgage.comLegal InformationPrivacy PolicyAbout Us How often you will make regularly scheduled mortgage payments.

Increasing the number of payments you make each year (e.g., choosing an accelerated payment frequency) can help you save money on interest and reduce your amortization period. Calculation NotesTo calculate an amount for houeing, we've assumed the interest rate is fixed over the entire amortization period.

In fact, interest is usually renegotiated at the end of each mortgage term, when rates may be higher or lower. Other options, such as a variable interest rate, can also result in a different payment amount. For more information, contact your mortgage professional. The Mortgage Payment Calculator is for general illustrative purposes only. CMHC does not guarantee the accuracy, reliability or completeness of any information, formulas or calculations provided through the use of this calculator and accepts no liability for loss or damage of any kind that may be attributed to the use of this tool. Discover the purchase price of a home you could afford and the mortgage amount you could qualify for by answering the questions below.* Required Fields.

Based on the information you have provided, we are unable to provide you with an estimate without further consultation. Please recheck your inputs or contact TD Canada Trust for further consultation. We will be pleased to assist you. An amortization period is the time over which equal payments and an unchanged interest rate would bring the balance of the mortgage or loan to zero.The maximum amortization for a mortgage with a down payment of less than% of the purchase price isyears.View Detailsamortization period is the most common)amortization period Looking to buy a Canadian property?

Find out what an affordable mortgage might look like for you.This mortgage calculator can show you:• The mortgage amount for which you may qualify• What mortgage payments to expect based on the resultsRevise your answers as often as you want to explore different options. Based on your income and debt payments you could be qualified to purchase a home at a price up to• Your down payment is % of the purchase price above.You need at least % of the initialand% for any amount above that.The maximum purchase price must be less than when your down payment is not greater than%.• The mortgage amount you qualify for is(with Insurance).• Don't forget to set aside funds for your Closing costs include things like legal fees/disbursements, land transfer taxes and moving expenses.

View Detailsclosing costs in addition to your down payment.• View your payments over the life of your mortgage here (assumes interest rate does not change over the amortization period). Based on your lifestyle expenses, you may want to consider a lower home purchase price to maintain your current lifestyle.

We have reduced your monthly mortgage payment toto fit within your lifestyle.This results in a purchase price of a home of• Your down payment is % of the home price• The mortgage amount is Expand Comparison Chart ( 0/5) This table will compare saved results.

/mth, where shown, is an abbreviation for Per Month. Home PriceDownPaymentMortgageAmountAmortizationMortgageTermRateLivingExpenses/mthBalance/mthRemove Total Credit Limit - Credit Cards Enter total credit limit amount for all credit cardsNote: We calculate your debt breakdown based on morygage available to you.

It is assumed that you pay 3% of the credit limit monthly. Total Credit Limit - Lines of Credit Enter total credit limit amount for all lines of creditNote: We calculate your debt breakdown based on credit available to you.

It is assumed that you pay 3% of the calchlator limit monthly. Monthly Lease payments Enter Monthly lease paymentsMonthly Loan payment amounts Enter monthly loan paymentsOther (Enter Other monthly debt) Enter other monthly debt if applicableOther (Enter Other monthly debt) Enter other monthly debt if applicableOther (Enter Other housinf debt) Enter other monthly debt if applicable Monthly Net Pay• Monthly Mortgage Payment• Estimated Monthly Homeownership Costs• Monthly Debt Payments• Monthly Living ExpensesFood Transportation/Gas Child Care Savings RRSP Mortgage calculator canada mortgage and housing Insurance (e.g.

Home, Car, etc.) Credit Protection Utilities (e.g. Water, Hydro, Internet, etc.) Shopping/Entertainment Enter type of additional debt #1 Enter amount of additional debt Enter type of additional debt #2 Enter amount of additional debt Enter type of additional debt #3 Enter amount of additional debtBalance Increase the frequency of your payments to pay your home off faster and save money in the long run.

Your TD Mortgage Specialist can show you more ways to save. Increase Payment Frequency to Pay Off Your Mortgage Faster. PaymentFrequencySemi-MonthlyMonthlyRapid Bi-WeeklyRapid WeeklyAmortization PeriodyearsyearsyearsyearsKeep payments lowGet mortgage free faster Homebuying Tools — CalculatorsEasy to use mortgage tools to help you establish your financial situation, determine how much house you can afford mrotgage the maximum price that you should be considering.Debt Service CalculatorA tool that allows homebuyers to evaluate their financial situation and understand how much they can comfortably afford to spend on a mortgage.Premium CalculatorA tool to help you estimate the premium payable when you are purchasing a home.

Simply enter the purchase price, down payment housin the amortization period.Household Budget CalculatorCompare your income with your current or planned expenses and debt payments and see what you can afford.Mortgage Payment CalculatorA tool to find how much and how often your payment will be.

Compare options and find one that's right for you.Mortgage Affordability CalculatorEasy to use mortgage morrtgage to help you estimate the maximum mortgage you can afford.Related CMHC Information