Use the mortgage payment calculator to see how much your payments would be based on your down payment and amortization.
When thinking about purchasing your first home or even renewing or refinancing an existiing mortgage it is not enought to just use a mortgage calculator to find our what your mortgage payment will be. We want to make sure that you understand the overal risks and numbers involved in owning real estate. Mortgage payments are part of it, so to is your other monthly debt obligations, the interest rate being paid on the debts and the monthly cost of maintaining a home or other type of real estate.
That is why we always recommend that the consumer Contact Us for a detailed and customized calculation to see practically how much they can be approved for based on real life numbers.
Remember, the purpose of the mortgage payment calculator is to give you a general idea, or ‘ball-park figure’. The next step would be for you to contact us so that we can consult with you and ask real life questions to see how much you can realistically be approved for. Ultimately our goal is to work with you from the start to the end, up to the point you purchase your real estate, and the keys are in your hand.
For a general and basic calculation try out the Canada Mortgage Housing Corporation’s mortgage payment calculator ‘HERE’.