To assist you in your basic calculations in determining how much
of a house you can
afford, please feel
free to use the calculator on the left.
The instructions are simple:.
1) Enter in the loan amount
2) Enter in the interest rate.
3) Enter in the amortization period.
(Note: in Canada, the maximum amortization period is
The mortgage calculator will determine what your monthly
payment will be, how much you will spend over the course of a
year, and finally, how much you will pay on your loan over the
entire amortization period.
Of course, this calculator just figures out the basics.
You should speak with your broker and lender to determine
which type of mortgage is right for you. We have
outlined 15 different mortgage types at
You will also wish to discuss the length of term. The
standard term is 6 months to 5 years, with different interest
rates applying to the term. Usually, the longer the
term, the higher the rate.
We can review with you the benefits of shorter amortization
periods, length of term, larger downpayments, monthly vs
bi-weekly payments and the benefits of paying your mortgage off
Please fill in our quick form below, and we'll get back to you